Retirement account tax year end 2023-2024 servicing deadlines
*REQUIREMENTS
MAKING AN ADDITIONAL SINGLE PAYMENT
Payment method:
- Bank transfer - quoting RA policy number as reference.
Sort code 30-18-05
Account No: 00014717
Account Name: SW LTD - SWPLC S/O COLLECTION A/C
Requirements to apply the single payment:
- Fund/investment choice, if not received money will be applied to control account and invested into funds on the date we receive the instruction.
- Initial Adviser charge, if applicable. In the absence of a signed application form we can accept an email from the customer, which must contain their policy number, the amount of the charge, and their authority to pay the charge from their plan.
INCREASING A REGULAR PAYMENT
- Increase amount and effective date of the increase.
- Fund/investment choice.
- Initial Adviser Charge, if applicable. In the absence of a signed application form we can accept an email from the customer which must contain their policy number, the amount of the charge and their authority to pay the charge from their plan.
- An email from the payer confirming the amount and effective date of the increase.
ADDING A NEW REGULAR PAYMENT
- Payment amount, start date and frequency.
- Fund/investment choice, if not received money will be applied to control account and invested into funds on the date we receive the instruction.
- Initial Adviser Charge if applicable.
- We can accept an unsigned Direct Debit Mandate to set up payments but we must have an email from the payer (policyholder, third party or Employer ‘on letter headed paper’) to authorise it.
AD HOC INCOME PAYMENTS
- Payment amount.
- Sufficient funds in the Income Control Account to cover the payment amount.
or
- A disinvestment instruction to top up Income Control Account to the value of the income payment amount.
- Bank Account details for an account in the customer’s name. If we already have bank account details we will check if these are still correct before making payment. Please provide Bank Account details with the initial request.
PARTIAL OR FULL UFPLS PAYMENTS
- Payment amount.
- Customer Bank Account details which must be in the customer’s name. If we already have bank account details we will check if these are still correct before making payment, so best to provide them with the initial request.
- Lifetime Allowance declaration. This can be accepted by way of a signed form (form available on literature library) or by way of a verbal declaration by the adviser to a SW colleague.