Overview

Things you should know about our PPFlex:

• you can pay in up to 100% of your earnings, up to £235,000 (tax year 2008/09) (or £3,600 if you aren't working) and receive tax relief on every penny. We won't accept any payments into your plan unless they are eligible for tax relief.
• generous tax relief.
• make regular payments on a weekly, monthly or yearly basis
• make one-off payments at any time
• change your payment amount at any time, subject to the minimum payment amount of £40 a month
• stop paying, take a break and restart at any time (although this will reduce your future pension)
• choose from a wide variety of funds, including external funds, at competitive prices
• the first 20 fund switches in any 12-month period are free. If more than 20 fund switches are made in any 12-month period we reserve the right to charge for these additional switches.
• remember that what you get at retirement age will depend on:
  • how much you save
  • the performance of your chosen funds
  • any payment breaks you take (stopping payments will reduce your final fund).
• You cannot cash in this plan at any time.

Tax and legislation are likely to change in the future. The information given here is based on our current understanding of law and HM Revenue & Customs practice at the date of publication. Tax relief may alter and its value depends on your financial circumstances.