You can invest between £5,000 and £500,000 and the IVPPP will provide you with a lifetime annuity, which you can adapt to suit your needs.
It's worth noting you can take up to 25% of your fund as a tax-free lump sum.
If you want to invest less than £5,000, you can pay £2,880 into our IVPPP Select. It's a no frills plan which gives you a tax-free lump sum of £900 and an annual payment for life.
You can combine more than one pension fund in our IVPPP to give you one source of income for the rest of your life.
If you need any help tracking down old pension plans that you have the Pension Service have a tracing service that may be able to help you.
This link is provided for general information purposes only. Standard Life accepts no responsibility for information contained in the site or for the site not being available at all times.
We'd always recommend getting advice before transferring pensions to make sure that you're not losing out on any benefits.
As long as you're in employment, Government legislation lets you invest up to 100% of your earnings in a pension plan in any one year and you'll get tax relief too. This means for every £80 you pay, £20 of tax relief will be added.
If you're a higher rate tax payer you may be able to claim additional tax relief through your tax return.
If you're eligible, you'll get tax relief on any cash lump sum you invest in an IVPPP. You won't get additional tax relief if you choose to transfer your pension funds held elsewhere. Remember, you would already have received tax relief when you first invested in these plans.
Tax relief may be altered and the value to you depends on your financial circumstances.
If you're over 50 and don't have any earnings, you can still benefit from tax relief. Our IVPPP Select costs £2,880 and tax relief is added to make this up to £3,600, which is the maximum you can pay into a pension if you don't have earnings.
We'll give you £900 back immediately as a tax-free lump sum and then make annual payments to you for the rest of your life.
Before buying an Immediate Vesting Personal Pension Plan Select you need to be fully aware of the risks and commitments. To find out more please select a page from the list below or download our Key Features Document which explains these in detail.If you want to invest at least £5,000 to provide an income but you don't have any earnings or are under age 50, have a look at our Purchased Life Annuity.
Any reference to legislation and taxation is based on Standard Life's understanding of law and HM Revenue & Customs practice at date of publication. Legislation and taxation are liable to change in the future.
