Pension Choices Plan

Your Pension Choices Plan is designed to help you save towards your retirement. It offers a choice of investment options and flexibility to withdraw funds in retirement, as lump sums or as a regular income.

This plan is now closed to new customers.

We recommend you get financial advice to help you make decisions about your pension savings and your retirement options. The value of your investment can go down as well as up, and you may not get back what you put in.

What would you like to do?

You can get a copy of your annual statement and current pension value by contacting us.

You can update your bank or building society details by contacting us.

You can change your address details by contacting us.

To change your name, we’ll need a signed letter from you with details of your previous name and your new name. We’ll also need one of the following original documents: a Marriage Certificate, Civil Partnership Certificate, Decree Absolute, Final Order or a Deed Poll.

Please send the letter, including your policy number, to Prudential, Lancing, BN15 8GB.

We'll return your document to you straight away.

We recommend that you carefully consider your options, including your tax position, before accessing your pension savings.

Taking money out is a big decision and one that’s best made with an adviser. If you don't have a financial adviser you can find one at unbiased.co.uk.

We'll let you know your options six months before your retirement date.

Your financial adviser is best placed to help you understand what retirement options are right for you.

If you don't have a financial adviser you can find one at unbiased.co.uk.

You can pause, stop or change your payments into your pension. We recommend you get financial advice to help you make decisions about your pension savings and your retirement options.

To discuss your options, please contact us.

You'll be able to nominate a beneficiary by completing and sending us the beneficiary nomination form. To get a copy of the relevant form, please contact us.

You can invest your money in at least one of the nine investment funds available. When you are in Drawdown you also have the option to invest in one of four Investment Pathways. Find out more about Investment Pathways.

You're able to change your investment choices at any time. Please read Your With-Profits Plan - a guide to how we manage the plan, for an explanation of how the With-Profits plan works. For more information on the range of funds, please visit your Fund Guide.

The following funds are available:

The following Investment Pathways are available:

Pathway 1 - I have no plans to touch my money in the next 5 years

Pathway 2 - I plan to use my money to set up a guaranteed income (annuity) within the next 5 years

Pathway 3 - I plan to start taking my money as a long term income within the next 5 years

Pathway 4 - I plan to take out all my money within the next 5 years

We recommend you get financial advice to help you make decisions about your pension savings and your retirement options. The value of your investment can go down as well as up, and you may not get back what you put in.

If you don't have a financial adviser you can find one at unbiased.co.uk.

You'll be able to check the funds you're invested in on your annual statement.

You can also find out more about the funds in the Fund Guide.

No you won't be charged for changes to funds.

The charges that apply to your policy are detailed in your annual statement and the Fund Guide.

Yes, you can normally transfer your plan to another pension provider. Transferring your pension is a big decision. We recommend you get financial advice to help you make decisions about your pension savings and your retirement options.

Alternatively you can contact us about transferring your plan.

Need more help?

If you can’t find the answer you’re looking for, we’re here to help. Visit the contact us page to find the team that can help with your product query. We're available Monday to Friday, except public holidays.