If you're looking for a simple and tax-efficient way of saving for retirement, our easy option Personal Pension could be right for you.
- Pay in from £80 a month or an £800 lump sum
- Start, stop or change payments online
- Let experts manage your investments for you
What is our easy option online Personal Pension?
Our easy option online Personal Pension is also known as our Active Money Personal Pension (AMPP). It's a flexible pension where your money goes into one of our MyFolio Managed Strategic Lifestyle Profiles.
If you're looking for a pension, but want to save time choosing and managing your investments, our online Personal Pension could be a good choice for you.
- You control which MyFolio Managed Strategic Lifestyle Profile is right for you.
The experts will do the rest for you. They’ll:
- manage your money for you right up until you retire
- decide which investments you should be in and when
- make sure the funds you’re in don’t take any more or less risk than they should
As you get closer to retirement, your money will automatically be moved into funds designed to get your investments to where they need to be for taking your retirement benefits.
It’s easy to change your investments in the future. If you choose the easy option for your Personal Pension, you can still move to funds in the DIY range later on if you want to. If you choose to do this, you’ll need to move all your money out of your lifestyle profile as you can’t invest in a lifestyle profile and other funds at the same time through our Personal Pension.
As with any investment, the value of your fund can go down as well as up, and may be worth less than you paid in.
Why open our easy option online Personal Pension?
Easy - we'll claim government tax relief for youThe government gives you 20% tax relief on your pension payments, topping up payments to your pension. We'll automatically claim this from HM Revenue & Customs and add it to your plan.
How your payments are topped up by basic rate tax relief
|You pay in||Tax relief adds||Your pension gets|
If you're a higher or additional rate taxpayer, normally you’ll qualify for extra tax relief. You can claim any additional tax relief by contacting HM Revenue & Customs.
You can find out more about tax relief limits in your AMPP Key Features document.
Easy - start preparing by making one decisionSimply choose which MyFolio Managed Strategic Lifestyle Profile is right for you based on your chosen level of risk.
Easy - managed by experts for youOur experts will decide which investments you should be in and when. They'll also make sure the funds don't take any more or less risk than they should.
Easy - prepares your pension for retirementAs you get closer to retirement, your money will automatically be moved into funds designed to get your investments to where they need to be for taking your retirement benefits.
Easy - manage your pension anywhereReview your pension using your laptop, tablet or mobile. Check statements, manage your payments and more.
Easy - transfer other pension potsTransferring a pension to Standard Life is easy and you could be in control of your combined pension in just a few weeks.
Bringing your pensions together into one plan may not be right for you, for example you could give up important benefits. There’s also no guarantee of a better pension by transferring into one plan.
Once you’ve set up regular payments and as long as you meet minimum payments and HM Revenue & Customs limits, you can pay in when you like, and how much you like.
Laws and tax rules may change in the future. The information here is based on our understanding in April 2018. Your personal circumstances also have an impact on tax treatment.
When you open an easy option Personal Pension remember, as with any investment, the value of your funds can go down as well as up, and may be worth less than you paid in.
Apply for your easy option Personal Pension:
- Decide how much to pay in
- Choose how much or how little risk you want to take
If you want to change from the easy to the DIY option, you can. With our Personal Pension, all the investment options are available to you if you want them.
Compare the options – which pension option is right for you?
|The easy option Personal Pension||The DIY option Personal Pension|
|Choosing where to invest||It's easy - you just choose the MyFolio Managed Strategic Lifestyle Profile which is right for you based on your chosen risk level.||You can choose from hundreds of investment funds.|
|Risk||Our experts will make sure that the funds you're invested in don't take any more or any less risk than they should. You need to regularly review your risk level to make sure it continues to match the profile you're in.||You need to regularly review your investments to check they continue to match how much risk you're prepared and able to take.|
Things to be aware of
You should make sure any lifestyle profile you choose matches how you plan to take your retirement benefits. It's also important to consider when you'll take your money as lifestyle profiles make changes to your investments based on your selected retirement date.
If you aren't sure how and when you should take your retirement benefits, we recommend you get financial advice. Your adviser will probably charge for providing advice.