Welcome to Cavendish Online

There will also be an EFMC (External Fund Management Charge) applicable to certain external funds

* Not Tiered means the same Annual Management Charge will be applied to the whole fund once the threshold is reached.

Min / Max Contributions

• Minimum regular contribution is £20 net (£25 gross) per month by direct debit. Payments by direct debit can be altered once the plan begins by contacting the provider.
• Minimum single lump sum contribution is £16 net (£20 gross).
• Minimum transfer from another pension is £20.
• The maximum amount you can pay into your registered pension schemes in any tax year is 100% of your UK taxable earnings. (Maximum for a non- earner is £2880 net (£3600 gross)).

Age Limits / restrictions

• To apply for a Friends Provident Stakeholder Pension you must be between 0 – 74yrs and a UK resident, Crown servant or the spouse or registered civil partner of a Crown servant.
• The minimum term is one month. All payments into the plan must cease by age 75. Benefits must be taken by age 75.
• All payments into the plan must cease by age 75. Benefits must be taken by age 75.
• If you are under 16, the pension must be taken out by a legal guardian on your behalf. There is a seperate application form for minors (see below).

You'll need to choose a fund or funds that reflect your attitude to risk and return.

With a Friends Life Stakeholder Pension, you can either select the fund(s) that you want to invest in yourself and control your investments until retirement or you can choose to have the Lifestyle Investment Programme take over the investments in your pension as you approach retirement and move them to lower risk funds accordingly.

There are 20 funds available for the Individual Stakeholder Pension. The range includes ‘in-house’, funds of funds, ‘Multi Manager’, index funds and external funds. You may choose up to 10 funds to invest in or 8 if you choose a Lifestyle Investment Programme.

Documents

Fund Guide

To find out more about the Friends Life Stakeholder Pension please visit their website. You will need to return to Cavendish Online to apply and benefit from the discounts.

http://www.friendslife.co.uk/

Please also read the Friends Life Stakeholder Pension Key Features

Key Features

NEW PENSION
To apply please post all the following to 'FREEPOST Cavendish Online':

1. Application Form
2. Client Declaration
3. A cheque for your contribution and / or direct debit mandate form(s), made payable to the pension company.
4. Money Laundering Verification Documents*
5. Our £35 fee (cheque to Cavendish Online or pay online). £40 if you would like your ID documents returned via registered post.

 (for a minor please complete this Application Form)

NEW PENSION & TRANSFER

 If you are also transferring an existing pension please send the following in addition to the items above:

1. Transfer Form
2. A Transfer Valuation and / or Discharge Forms**
3. Our Transfer Fee***

* Money Laundering Identification (MLI)

You will need to submit Money Laundering Information in the form of certified copies# or originals of either your passport OR driving licence (if you have a photo licence we need to see both the card and paper parts) AND a recent utility bill or bank statement issued within the last 3 months (not mobile phone) showing your address.

Company MLI: If your employer is paying into your pension then we will also require a letter from the company on headed paper stating that they are paying into your plan and listing the main signatories/directors. We also require proof of the company address, i.e. a utility bill.

Pension for a minor: If you are setting up a pension for someone under 18 years old then please send money laundering information for them. We require the original or certified copy# of either their birth certificate OR passport. We will also require full MLI for the person paying the premiums.

#A certified copy is where a person of authority (solicitor, teacher, director, post office clerk etc) signs a copy of the original document stating that it is a true copy of the original document. They will need to sign and date the document and add their name and position.

**Discharge Forms

Speak to your existing pension provider and let them know you are transferring the pension. They can then post these forms out to you. You may also want a comparative current valuation to check if you will lose any additional benefits by moving the money. The discharge forms can be obtained mid-transfer or can be requested by your new pension provider if you cannot access these forms although sending them in initially will speed up the process.

***Transfer Fees

£70 = New Pension Application + Single Transfer                                   

£75 = New Pension Application + Single Transfer + Recorded Delivery

£100 = New Pension Application + 2 or more Transfers (Inc RD) (Fees capped at £100)