You can invest between £5,000 and £250,000 and the IVPPP will provide you with a lifetime annuity, which you can adapt to suit your needs.
It's worth noting you can normally 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. Please note annual payments may be subject to tax.
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.
Before you make any decisions regarding transferring your pension funds, it's a good idea to speak to a financial adviser as they'll be able to help advise you about what's best for you. Please note there may be a cost for this. If you no longer have a financial adviser then we have a team of experts who can help you. You can call us on 0845 272 8810. Call charges may vary.
Standard Life Direct is provided by Standard Life Client Management Limited which advises on, and sells products from, subsidiaries of Standard Life plc and some external providers.
As long as you're in employment, normally 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. For individuals who have an income of £130,000 or more, additional restrictions apply and you should seek financial advice.
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 55 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. Please note annual payments may be subject to tax.
Before buying an Immediate Vesting Personal Pension Plan Select you need to be fully aware of the risks and commitments. Please 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 55, have a look at our Purchased Life Annuity.
Any reference to legislation and taxation is based on Standard Life's current understanding of law and HM Revenue & Customs practice. Legislation and taxation are liable to change in the future.
