If you’re considering transferring to another drawdown plan, we’ll be happy to help. Please be sure you understand all your options, and the effect of any changes you make. There are a few things you should think about before you make any decisions.
You should consider speaking with your financial adviser first. If you don’t have one or have any questions once you’ve read this summary, or need any help understanding your options, just call us on 0808 234 2372, or +44 178 644 8844 if you’re calling from abroad. We might record your call for training and quality purposes. To find out more about how we use your personal data please visit pru.co.uk/mydata.
A drawdown plan is designed to give you flexible access to your pension pot and control over where your money is invested. You can choose when and how much money to take out, subject to any limit that might apply and therefore help to manage your income needs.
The value of your investment can go down as well as up so you might not get back the amount you put in.
If you decide to transfer to a different drawdown plan, you’ll have to transfer your whole fund. All future benefits will come from your new plan.
To help decide if a new plan is suitable for you there are a few things you should think about before transferring your plan.
Fraudsters are always out there and constantly changing their tactics. So if you’re thinking of reinvesting the money from your plan, take a minute to find out more, and stay ahead of the scammers. There is also some very useful information available from The Pensions Regulator.
Transferring your drawdown plan is a big decision. You should speak with a financial adviser first. If you don’t have one, you can get details of financial advisers at pru.co.uk. You may be charged for their services.
Give us a call on 0808 234 2372 or +44 178 644 8844 if you’re calling from abroad. We can’t give you advice or make your decision for you, but we’ll be happy to help you understand your plan and talk you through all your available options and their possible implications.
We’re here 8am - 6pm Monday to Friday (except bank holidays) and happy to help in any way we can. Please make sure you have your plan number to hand when you call.