Welcome to Cavendish Online

* Tiered means the different Annual Management Charge will be applied to each tier at the same time.

**Until your Pension fund reaches £15,000 you will also be charged an additional 0.50%

Min / Max Contributions

• To benefit from the lower AMC above you would need to pay a minimum regular contribution of £160 net (£200 gross) per month, £2,000 a year or £25,000 Single premium / Transfer. This amount can be reduced at a later stage without affecting the charges.
• No minimum lump sum or transfer.
• 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)).
• Monthly payments by direct debit can be altered once the plan begins by contacting the provider.

Age Limits / restrictions

• To apply for a Legal & General Stakeholder Pension you must be between 0 – 69yrs and a UK resident, Crown servant or the spouse or registered civil partner of a Crown servant.
• The minimum term is five years. All payments into the plan must cease by age 75. Benefits must be taken by age 75.
• It is suitable for the employed, self employed, unemployed, pensioners and minors.
• If you are under 18 the application must be completed by a legal guardian on your behalf. The same form is used for both adults and minors.

1. Choose an investment fund, or funds, to suit you

Legal & General offers a wide range of pension investment funds with varying levels of risk and potential reward. You can choose to invest your contributions into one or more funds according to your attitude to investment risk. You can switch your investment from one fund to another, whenever you choose, free of charge.

• There are over 20 Legal & General pension investment funds to choose between, ranging from index-tracking funds (which track the performance of a market or geographical region) to actively managed investment funds (where a fund manager decides what to invest in, in order to best achieve the fund's aims).
• Alternatively, there are 17 funds from a set of specially selected external fund managers.

2. Choose a Lifestyle Profile

You also have the option of a Lifestyle Profile. This is where your contributions are invested for you. Initially in funds with the potential of long term growth and then your investment is steadily switched into lower risk funds as you get nearer your chosen retirement age.

3. Take the default option

If you prefer not to choose a pension investment fund, your contributions will be invested into our default investment option - the UK Equity Index Lifestyle Profile. This means your contributions will initially be invested in the UK Equity Index Fund then, starting 10 years before your chosen retirement age, your investment will be gradually switched to the lower risk Fixed Interest and Cash Funds.

Documents

Fund Guide

Please read the Legal & General Stakeholder Pension Key Features for more information about this plan.

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.

Note: If your employer will be paying into the pension please complete the Employers Contribution 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 (included within Application Form above)
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)