For professional advisers only
SUITABILITY REPORT TEMPLATE
To help you create your own client suitability reports, we’ve created this template to help when you’re
recommending Royal London as the preferred pension provider to your client.
If you need more specific information for your report about Royal London, we’ve also created the
Key messages for your suitability report template.
It’s important that within your suitability report you clearly explain to your client why you’re recommending your
proposal and how it meets their financial goals and objectives. Within the FCA’s guidance about suitability reports, they
also mention how the report should:
• provide a balanced view
• detail the costs and charges involved and
• highlight any potential penalties that may be linked to your recommendation.
If your client is already saving for their retirement, but as part of your proposal you’re recommending they cancel their
existing plan and transfer their benefits to a new plan with Royal London, in addition to providing a like for like
comparison, the FCA will also be checking to make sure that good and appropriate advice has been provided. To help
with your advice process, we’ve highlighted below the following points which you’ll need to take into account when
producing your suitability reports. We’ve also included some of the points highlighted by the FSA in their 2008/2009
Thematic review:
• Knowing your client – finding out what their financial needs and objectives are.
• Analysing their existing arrangements – reviewing their existing arrangements and identifying any shortfalls.
• Researching new plans – identifying suitable new plans and their benefits.
• Identifying suitable investment options – identifying their suggested attitude to risk and recommending suitable
investment options.
• Carrying out regular reviews – regularly reviewing their circumstances and ensuring their investment options
remain suitable.
Pension Portfolio
It’s important that you produce your suitability report in line with your own compliance requirements and that if you’re
advising any client to transfer their existing plan to a new provider, that you’re authorised to do so, it’s in their best
interests and it meets the FCA rules.
Pension Portfolio [with Income Release/Self Investment Pension Plan]
suitability report prepared for [Name of client]
The contents of this report and the recommendation was provided by
[Insert name and address of financial adviser]
2
Date of initial meeting
[Insert date]
Date of follow up meeting
[Insert date]
Date of suitability report
[Insert date]
Date service agreement signed
[Insert date]
CONTENTS OF THE SUITABILITY REPORT
1. Introduction and overview
2. Summary of your circumstances and objectives
• Attitude to risk
3. Pension switching - Your existing arrangements
4. Your recommendation
• Product recommendation
• Provider recommendation
• Other product considerations
5. Services and Remuneration
3
1. INTRODUCTION AND OVERVIEW
Within this section you’ll need to provide your client with background information about your meeting and this report. Here are
some suggestions about what you may want to include:
• details about you and your business
• what their financial needs, objectives and their future goals are in planning for their retirement
• information about the importance of reading this report alongside any illustration and key features you’re providing
• details about any documentation you’re providing that outlines the services you’ll provide and their costs.
2. SUMMARY OF CIRCUMSTANCES AND OBJECTIVES
Within this section you’ll need to summarise their personal details that you discussed during your meeting.
Within the table below is a list of some of the details you may want to include, but depending on your clients circumstances
you may need to include other information as well.
Client details
Name
Date of birth
Marital status
Number of children financially dependent
Occupation
Employment status
Tax status
Monthly income (net)
Monthly expenditure
£
£
State of health
Preferred retirement date
Preferred retirement income
Smoker
4
£
Within this part you’ll need to include details about the financial objectives you discussed with your client. Depending on their
needs and objectives, here are some suggestions about what you may want to include:
[These points may be suitable for a Personal Pension plan]
• If they are not currently saving towards their retirement and they want to start.
• If they are already saving but from your discussions you’ve identified that they’re not saving enough to provide them with the
amount of pension they’ve said they want when they retire. You may also want to include details about the amount of
pension they want to receive when they retire.
• If they’ve had breaks within their working history and they’ve not built up enough National Insurance contributions to provide
them with a full State Pension, they may want to pay into a separate personal pension plan.
• If they are already saving towards their retirement but have more than one plan which they want to consolidate into just
one. This may be because:
• they want to reduce their plan charges
• their existing pension provider doesn’t provide them with the flexibility or the investment opportunities/performance
they need
• they are not happy with the level of service they’re receiving from their current provider.
[These points may be suitable for an Income Release plan]
• If they are nearing their retirement age and they want to see what options are available to them or they want to take out a
new plan that allows them flexibility over how they take their income.
• If they want to start taking an income from their plan and they want to choose the most appropriate way of doing so.
• If they are already retired and they want to release additional tax free cash/income from their plan to possibly pay for their
child’s wedding, help with a deposit for a house or pay off the remainder of their mortgage.
• If they are already retired and are receiving an income/pension but they want to continue contributing to a plan or look at
reducing any potential tax liability.
[These points may be suitable for a self investment plan]
• If they have outlined an interest in wanting to take an active role in choosing investments, why they may want to consider
a Self Invested Personal Pension (SIPP) plan.
• If they are a company director and they want to incorporate their business premises within their pension plan.
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Attitude to risk
Within this part you’ll need to include details about your client’s suggested attitude to risk. You may want to include information
about how risk adverse they are and the length of time they have until they retire. You should base your recommendation upon
investment options that are suitable for them and which does not expose them to an unnecessary level of risk.
Here are some suggestions about what information you may want to include:
• It’s important to explain to your client that the greater level of risk they take with their investment decisions, increases
the chances of greater rewards as well as the possibility of greater losses.
• You’ll also need to point out to your client that their investments can go down as well as up and they may not get back
the value of their original investment.
• If you’ve gone through a risk questionnaire with your client, you’ll need to discuss the outcome from this tool and ensure
your client agrees with your recommendation and their suggested attitude to risk. If you’ve used our risk profiling
questionnaire the following information may help you to define to your client what their suggested attitude to risk is:
Attitude to risk
Very cautious
Cautious
Outcome
Very cautious investors generally have very low levels of investment knowledge and rarely keep up
to date with investment matters. They also like to know that their capital is safe rather than
seeking high
returns.
Cautious
investors
have low levels of investment matters and are not really interested in keeping
Moderate cautious
up to date with investment issues. They don’t really like to take risks and prefer to keep their
money
in the
bank. investors typically have low to moderate levels of investment knowledge and
Moderately
cautious
they may keep up to date with investment issues. Generally, moderate cautious investors are
uncomfortable taking risks with their investments.
Balanced
A balanced investor will generally have a moderate level of investment knowledge and they may
pay some attention to investment matters. They may also be prepared to take some investment
risk in order to meet their long-term goals.
Moderate adventurous
A moderate adventurous investor will have a high level of investment knowledge and will be a
fairly experienced investor. They are also prepared to take some risk as they understand this is
crucial in achieving long-term goals.
Adventurous
An adventurous investor will typically have a high level of investment knowledge and
experience. They understand the need to take an element of risk to achieve their goals and
are generally prepared to take risks with most of their available assets.
Very adventurous
A very adventurous investor will have a lot of knowledge and experience and will take a keen
interest in investment matters. They’ll also be looking for the highest possible returns on their
capital and are prepared to take a considerable amount of risk.
6
3. PENSION SWITCHING – EXISTING ARRANGEMENTS
If your client is already saving towards their retirement, within this section you’ll need to confirm what their existing
pension plan details are. Here is an example of the type of information you may want to include:
Plan details
Provider and type of pension plan
Pension plan number
Your contribution
£
Employer contribution
£
Frequency of contribution
Retirement age
Investment choice
Fund value
£
Transfer value
£
Low
Projection values
£
Plan charges
Management charge (%)
Policy fee (£ or %)
Allocation rate (%)
Bid/offer spread (%)
Fund switch charge (£ or %)
Penalties for making the plan paid up
Reduction in yield (%)
Plan benefits
Online functionality
Market value reduction free period
Tax-free cash entitlement
Guaranteed annuity rate
Guaranteed minimum pension
Stakeholder guarantee
Pension plan death benefits
Option to take retirement benefits directly from
pension plan
7
£
Medium
£
High
£
If as part of their existing plan details you’ve looked into the past performance of their existing investment choice,
you may want to complete these in the following table:
Pension plan
investment choice
Percentage growth
xx/xx/xxxx to
xx/xx/xxxx
xx/xx/xxxx to
xx/xx/xxxx
xx/xx/xxxx to
xx/xx/xxxx
xx/xx/xxxx to
xx/xx/xxxx
xx/xx/xxxx to
xx/xx/xxxx
[Investment choice]
[Investment choice]
It’s important that you tell your client that any past performance is not an indication to any future investment performance.
Reasons for recommending a pension switch
If your client is looking to switch their existing pension plan, it’s important that your recommendation is in line with the FSAs approach
for pension switching advice. To help you meet their criteria, we’ve provided links to their templates below:
• FSAs pension-switching advice suitability assessment template [Excel]
• FSAs pension-switching advice suitability assessment template [PDF]
• Notes to using the template [PDF]
Within this part of the section you’ll need to confirm to your client why you’re recommending they switch their existing plan. As
part of this recommendation you may want to include some of the following points:
• If their existing pension provider is not providing them with the level of service they require, or their existing pension plan
is not flexible and does not adapt to their changing circumstances and their financial needs.
• If they’re currently invested in an investment option that does not meet their suggested attitude to risk and they’ve suffered
from poor investment performance.
• If they want to make additional or lump sum payments to their plan but their existing provider has closed the contract to
new money.
• If in the event of their death, their existing pension providers scheme rules do not allow their plan to take advantage of the
nominee and successor flexi-access drawdown,
• If they have a number of pension plans that have varying charges, and may have different retirement ages, and they would
like to benefit from consolidating these into the one plan where there is only one plan charge which is lower and is more
suitable to their circumstances.
• Your client is nearing their retirement age and is considering taking their retirement benefits and they want flexibility over
how they take their benefits.
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• The online functionality available on their existing plan is limited.
• They would like some flexibility around the level of income they’ll receive.
• Their existing plan does not allow them to withdraw an income directly from the plan.
• Their existing plan does not allow them to phase in their retirement options.
• If they would like to take more of an active role in their investments and would like to be able to choose from a wider
range of investment funds that can be offered via self investments.
• If they’re a Company Director and they want to incorporate their business premises into their pension plan they may
want a self investment offering.
Important points to consider when transferring an existing pension plan
If your clients are nearing their retirement age and they are starting to think about how they’ll take their retirement benefits
it’s important they consider all of their options before they switch. You may want to include some of the following points within
your report to your client:
• If they transfer their existing plan to a new pension provider, they may lose some of their existing benefits.
• If their existing plan provides an enhanced tax-free cash entitlement (TFC), Guaranteed Annuity Rates (GARs) or a
guaranteed minimum pension (GMP), and they realise that although they may receive a new lower charged plan if they
switched, they would lose these benefits. Depending on their circumstances, they may choose to continue with the
switch or they may decide that the benefits available under their new plan may not outweigh these losses.
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4. YOUR RECOMMENDATION
Within this section you’ll need to include information about your recommendation. You’ll need to explain clearly to your client
why you’re recommending the product, the provider and you may want to document why you feel your product
recommendation meets their financial needs and objectives over others.
To try and explain this clearly to your client, we’ve broken this recommendation down in to three key parts:
• Product recommendation
• Provider recommendation
• Other product considerations
Product recommendation
Within this part you’ll need to include some of the key details about the Royal London pension plan that you’re recommending to
your client and also why you’re recommending this product. You may want to include the following information:
Plan details
Type of pension plan
Contribution
£
Frequency of contribution
Retirement age
Investment choice
Projection value
Reduction in yield (%)
Critical yield A (%)
Critical yield B (%)
Plan charges
Management charge (%)
External investment charge (%)
Plan benefits
Online functionality
Tax-free cash entitlement
Option to take retirement benefits directly from
pension plan
1
0
Low
£
Medium
£
High
£
If as part of your recommendation you also want to include information about Royal London’s past investment performance,
you may also want to include the following:
Pension plan
investment choice
Percentage growth
xx/xx/xxxx to
xx/xx/xxxx
xx/xx/xxxx to
xx/xx/xxxx
xx/xx/xxxx to
xx/xx/xxxx
xx/xx/xxxx to
xx/xx/xxxx
xx/xx/xxxx to
xx/xx/xxxx
[Royal London
Investment
choice]
[Royal London
Investment
choice]
Once again, it’s important you point out to your client that any past investment performance is not an indication to future
performance.
[Use if you’re recommending a personal pension plan]
To support your recommendation for a personal pension plan, you may want to include some additional information for your
client. It’s important that if you’re recommending a personal pension plan to your client, that they understand the potential
risks involved. The following points may help you provide this information to your client:
• At the heart of the personal pension plan is the Core Investments which is made up of a collection of different investment
funds which are managed by some of the leading investment companies.
• The plan has a very clear charging structure and clients will only pay charges for the services they use.
• Royal London will apply a charge for managing the pension plan. This charge will cover the costs of setting up the plan, the
ongoing administration and the investment charge on the Core Investments.
Royal London will also reward the client by reducing the plans management charge on the value of the Core Investments
part of their plan. You can find more details about these management charge discounts in our
[Key messages for your suitability reports document].
• The Royal London personal pension plan is a low cost solution that is flexible and can adapt to changes in your
circumstances. It also offers a wide variety of investment opportunities that suit various attitudes to risks.
• Just like any personal pension plan, the value of their Royal London plan can go down as well as up and your client
may get back less than the amount they paid into their plan. Whichever investment choice they choose to invest in will
depend on the level of risk they’ll have.
[You’ ll need to include details of any specific investment risks which are relevant to their investment choice.]
• All pension plans enjoy a number of tax advantages, but it’s important that your client is aware that these could change
in the future.
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[Use if you’re recommending an Income Release plan]
To support your recommendation for a personal pension plan, you may want to include some additional information for
your client. It’s important that if you’re recommending a drawdown option to your client, that they understand the potential
risks involved. The following points may help you provide this information to your client:
• Your client wants the flexibility of a pension plan that allows them to take their benefits directly from their pension plan without
having to purchase a separate annuity or take out a new pension plan. Royal London offers an Income Release facility
through their Pension Portfolio.
• Your client wants the flexibility that allows them to take regular and/or one-off tax-free cash payments at a time that suits
them. They can also take regular or one-off taxable payments from within the same plan.
• Your client wants to take advantage of the nominee and successor death benefits options to ensure their retirement
benefits are passed down through their generations.
• Based on their chosen retirement age of [insert age] and their decision to take an income via a drawdown plan, to maintain this
level of income during their retirement, their plan will need to grow at a rate of [insert Critical Yield A] in order for it to match the
amount of income that would have been available should they have chosen to opt for an annuity instead. There is no guarantee
they’ll achieve their rate of return and the actual rate may be more or less than this.
• Based on their chosen retirement age of [insert age] and their decision to take an income from their plan, to sustain a
desired level of income for the duration of their retirement, their plan will need to grow at a rate of [insert Critical Yield B].
There is no guarantee they’ll achieve their rate of return and the actual rate may be more or less than this.
• If based on your recommendation, your client is choosing to go for a drawdown plan, part of their retirement savings will
remain in investment funds which may be affected by the fluctuations in the stockmarket and so the value of their plan may
go down as well as up.
• If the value of their plan reduces, or they take an income from their plan that is in excess of the amount of growth their plan
achieves, this may mean that the amount of income they are receiving is unsustainable and may need to be reduced in the
future. It’s important that your client understands that their income levels may need to reduce in the future.
• All pension plans enjoy a number of tax advantages, but it’s important your client is aware that these could change in the
future.
[Use if you’re recommending a SIPP]
To support your recommendation for a SIPP, you may want to include some additional information for your client. It’s
important that if you’re recommending a SIPP to your client, that they understand the potential risks involved. The following
points may help you provide this information to your client:
• There are additional charges associated with using the Self Investment element of Pension Portfolio. These additional
charges are comparable to other SIPP providers and will depend on the type of investment chosen. [You can find out
more about these SIPP charges in our support material].
• The charge can be made up of the yearly administration charge or investment and transaction related charges.
• The additional charges that will be applied to the plan will depend on the level of the SIPP functionality used and the
assets held within the plan. These charges will increase each year in line with Average Weekly Earnings.
• If one of their financial objectives is to take a greater active role in the investment options with a view to having a wider
choice of investment funds to choose from, the Royal London Self Investment Personal Pension (SIPP) plan may help.
• If they are a Company Director and they want to use the value of their pension plan to purchase business premises, the
Royal London Self Investment Personal Pension (SIPP) plan may help. It’s important that your client understands the risk of
investing in an asset where the value is a matter of opinion rather than fact, as when they want to take their benefits, they
may find the asset hard to sell.
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Provider recommendation
Within this part you’ll need to include some key details about Royal London. You can find full details about Royal London
which you can use within your client suitability reports in our Key messages for your suitability report document as well as
on our website. As an example you may want to include the following information:
• Royal London is the UK’s largest mutual life, pensions and investment company.
• The award-winning service, technology and product innovation Royal London provides meet the financial objectives
of your client.
• The amount of funds The Royal London Group manage and the number of customers they service is testament to them
and the service they provide to their clients.
Other product considerations
• If within your suitability report you want to include information about why other pension products are not suitable for your
client and why you’re not recommending them, some of the following points may help you:
Stakeholder pension plan
• A stakeholder pension plan is a low-cost pension plan that was introduced by the Government in 2001 to try and
encourage more people to save for their retirement.
• These plans are suitable for people who want to top up their retirement savings, are not eligible to join their employer’s
pension scheme or who only want the opportunity to choose from a smaller number of investment funds.
• The charges for a stakeholder pension plan are capped and cannot exceed 1.5% for the first 10 years and after that, the
plan charges must remain at 1%.
• The investment opportunities available under a stakeholder pension plan were not sufficient to match their investment
needs and objectives. If they’re a Company Director and want to purchase business premises within their pension plan
this is not available under a stakeholder plan.
Conventional lifetime annuity
• A conventional lifetime annuity is purchased with pension savings that have been built up and can provide a guaranteed
regular income for life. However if there is a change in their circumstances, for example their health deteriorates, the level of
retirement income they are currently receiving cannot change.
• Although this type of annuity can provide a guaranteed level of income on death to a spouse, can pay tax-free cash
immediately and can be set up to automatically increase, this can also impact on the amount of retirement benefits they
may receive.
• The level of income available through this type of annuity will depend upon the annuity rates available when the annuity is
taken.
• If your client should die unexpectedly, the amount this type of annuity will pay out to a spouse may not be that attractive
compared to other retirement products that are available in the market at that time.
13
• As the level of income to be paid out during retirement is agreed up front, it can’t be changed and therefore the amount
being paid out may not be in line with average earnings or rising inflation and no additional contributions can be paid into
their plan once the annuity starts.
Unit linked/With profits annuity
• This type of annuity provides a regular retirement income in exchange for a lump sum but it’s linked to the performance of
the investment funds so the level of income they receive can go down as well as up. And whilst they could receive more
than other types of annuity products are offering, they could also receive less.
• Although this type of annuity will provide a guaranteed amount of income for life, the level of income cannot respond to
changing personal financial circumstances.
Short-term annuity
• This type of annuity will generally be paid for a period of up to 5 years and the amount paid out will be guaranteed for
that period of time. At the end of the set period, they can choose if they want to purchase another short-term annuity or
another annuity contract.
• The level of income paid is fixed at the outset and cannot be changed during the set period.
Phased annuity purchase
• A phased annuity contract allows a client to take their retirement benefits in stages by combining lump sum and annuity
purchases each year. However they don’t provide any guarantee that the level of income being paid will be as high as
what is available under other annuity contracts.
• Although the client will only have used part of their retirement benefits to provide an income, and they can still make
contributions into the other part of their plan, as they’ve been taking an income from their plan already, the amount they’ll
have left to purchase an annuity with will be reduced. In addition to this, they’ll also not be able to receive their full tax-free
cash up front.
Flexi-access drawdown

A flexi-access drawdown allows clients to take up to 25% of their pension plan as a tax-free lump sum and/or a taxable
income payment(s) at a time that suits them. They can start taking their income right away or wait until a later date.

Clients can invest in funds that match their income objectives and attitude to risk, they can also choose when and how
much taxable income/tax-free cash they receive. Any income they take may be adjusted periodically depending on the
performance of their investments.
Self Invested Personal Pension (SIPP)
• A SIPP is a special type of pension plan that works as a ‘wrapper’ around a pension plan and allows someone to have a
greater involvement in choosing the investment opportunities.
• In addition to the traditional investment options available through pension plans, a SIPP allows the option of investing in
company shares (equities), government bonds (gilts) and commercial property. However to invest in the additional
investment options, you must pay the additional charges that come with this type of plan.
Workplace pension scheme
• If their employer does not have a group pension plan which they can join or their not due to reach their staging date for a
few years and they don’t want to delay contributing to their retirement savings any further.
• If their approaching their retirement age soon and their main objective is to start drawing an income from their
plan.
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• If they’re self employed or are classed as a non worker,i.e. they are a member of the armed forces, director or a company,
office holder which includes a non-executive director, company secretary, a member of the board or statutory body or
trustee, or a volunteer and there is not a group pension plan for them to join.
Investment
Within this section you’ll need to include details about Royal London’s investment options. You can find more details about
our investment offering within our separate Investment suitability report template but here are some suggestions about
what you may want to include:
• After completing the risk profiling questionnaire and discussing it with your client, you’ve concluded what your client’s
suggested attitude to risk is and the specific investment option that you’re recommending they should invest in.
Governance
• A key part of Royal London’s investment proposition is the governance provided through the Investment Advisory
Committee (IAC).
• The IAC will carry out regular reviews to ensure each fund continues to meet its’ original objectives. The fund range
includes:
• Governed Portfolios
• Governed Retirement Income Portfolios (Income Release only)
• Flexible and Target Lifestyle Strategies
• Individual and external fund range
Core Investments
• At the centre of a client’s plan is the Core Investments.
The Core Investments are made up of Royal London’s own funds that are managed internally by Royal London Asset
Management (RLAM) as well as a range of funds from carefully selected leading external fund managers.
• Royal London currently offer over 160 individual investment funds from a wide range of fund managers.
• The range of funds and fund managers gives a client a choice of different investment styles and exposure to different
geographical areas.
• Clients can switch between these investment funds as frequently as they like free of charge. Royal London may apply a
Market Value Reduction (MVR) if they switched out of the Royal London With Profits fund.
Governed Portfolios
• Royal London offers nine asset allocation portfolios, called Governed Portfolios. Each of the nine portfolios is made up of
different investment funds which include equities, property, corporate bonds and index linked gilts and they take into
account the length of time they have until they retire and their suggested attitude to risk.
Governed Retirement Income Portfolios
• Royal London offers five asset allocation portfolios, called Governed Retirement Income Portfolios.
• Each of the five portfolios are made up of different investment funds which include equities, property, corporate and high
yield bonds, and index linked gilts. They have been specifically designed for clients who are taking a regular income from
their pension and take into account their suggested attitude to risk.
15
Target Lifestyle Strategy
• Royal London purposely designed each of their Target Lifestyle Strategies to invest in portfolios that suit different terms to
retirement, attitudes to risk and desired client outcome. The Target Lifestyle Strategies will reduce investment risk as
retirement approaches by gradually switching from higher to lower risk Governed Portfolio’s. With the aim of delivering a
fluid and gradual descent to the clients desired outcome.
Flexible Lifestyle Strategy
• The Flexible Lifestyle Strategy allows a client to use the Governed Portfolios to build their own lifestyle strategy.
• They can select which path they want their retirement savings to follow and when they approach retirement, their savings
will gradually switch from higher risk to lower risk portfolios automatically.
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5. SERVICES AND REMUNERATION
Within this section you’ll need to provide details of the services you’ve agreed to provide to your client and any adviser
charge details you’ve agreed will be deducted from the plan in return for these services. Within this section you may
want to include the following:
Agreed services
• Following the initial discussions with your client at the start, you’ll agree what services you’ll apply and their associated
costs.
• How frequently you’ll provide regular reviews to your client.
• How you’ll regularly monitor your client’s investments and you’ll advise if there is any adverse effects which you think will
have a negative impact on them or their plan.
• If you’ll regularly provide them with information about how their chosen investment funds are performing.
As part of the information you provide on the remuneration you’ve agreed you’ll receive, you may want to include the following:
Initial adviser charges
• The percentage/amount of initial adviser charge you’ve agreed.
• How frequently the initial adviser charge payments will be deducted, whether it will be monthly quarterly, half-yearly or
yearly.
• The number of payments you’ve agreed will be deducted from the plan.
Ongoing adviser charges
• The type of ongoing adviser charge you’ve agreed.
• The percentage/amount of ongoing adviser charge you’ve agreed.
• How frequently the ongoing adviser charge payments will be deducted, whether it will be monthly, quarterly, half-yearly or
yearly.
• The number of payments you’ve agreed and also when they are to start being deducted from the plan.
• If you’ve agreed the ongoing adviser charge payments will increase and if so, when they are to increase from.
Contribution type
Percentage or
monetary amount
Frequency of payments
Number of payments
Regular contributions
% Or £
Single contributions
% Or £
N/A
N/A
Transfer payments
% Or £
N/A
N/A
Contribution type
Percentage or
Monetary amount
Regular contributions
%
Regular contributions
% or £
Single contributions
%
Single contribution
£
Transfer payments
%
Transfer payments
£
Frequency of
payments
Number of payments and
when they will start from
Increasing payments and when
the increase is to start from
N/A
N/A
N/A
N/A
N/A
N/A
Value Added Tax ( VAT )
If you’ve agreed adviser charges which are subject to VAT or they are VAT exempt, you’ll need to let your clients know this
as the amount they’ve agreed to pay may change in the future.
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Royal London
1 Thistle Street, Edinburgh EH2 1DG
royallondon.com
All literature about products that carry the Royal London brand is available in
large print format on request to the Marketing Department at Royal London,
Thistle Street, Edinburgh EH2 1DG.
The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions and is a member of
the Association of British Insurers and the Association of Financial Mutuals. Registered in England and Wales number 99064. Registered office: 55 Gracechurch
Street, London EC3V 0RL. Royal London Marketing Limited is authorised and regulated by the Financial Conduct Authority and introduces Royal London’s customers
to other insurance companies. The firm is on the Financial Services Register, registration number 302391. Registered in England and Wales number 4414137.
Registered office: 55 Gracechurch Street, London EC3V 0RL. Royal London Corporate Pension Services Limited is authorised and regulated by the Financial Conduct
Authority and provides pension services. The firm is on the Financial Services Register, registration number 460304. Registered in England and Wales number
5817049. Registered office: 55 Gracechurch Street, London EC3V 0RL.
January 2016
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