id
Limitations, Assumptions and Confirmation
Taking responsibility
You confirm that this client has been provided with financial advice, including a personal recommendation for this transaction and investment choice. By completing the online request you are confirming that you are taking responsibility for submitting this piece of business for the client.
Bank details
By confirming the new bank details you have seen documentation at a one to one meeting with your client to verify this is an account in your clients name. We may ask for sight of this at any time in the future.
Disinvestment and investment
By selecting proportionately we will move a proportion of every investment from the ‘pre’ to the ‘post’ part of the plan and will cancel units proportionately from every SLIP fund that is moving for the tax free lump sum and/or income.
By selecting no to proportionately we will target the fund(s) listed in the pre-pot disinvestment to move out of pre pension, the fund(s) listed in the post-pot investment will be moved into post pension (*), the fund(s) listed in TFLS disinvestment will be targeted to disinvest to pay the TFLS (**).
SIPP bank account
You need to ensure your client keeps sufficient funds in the SIPP Bank Account to meet expected payments and to cover 12 months of income and charges, including any adviser charges. It is important that arrangements are made to top up the money in the SIPP Bank Account by selling investments if this is going to be necessary.
Recycling declaration
You are confirming that any past, or any future contributions, from any source, to any of your client's pension plans, will not be significantly greater due to your client receiving this tax free lump sum.
Lifetime allowance
You are confirming that if Full or Phased drawdown has been chosen, you are declaring that the answers to the lifetime allowance questions are correct.