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Personal Investment Plan
Please note: Where we refer to 'Income' within this section, this is in regard to payments from the Living Time Personal Investment Plan to the Trustee bank account.
The Living Time Personal Investment Plan (PIP) is aimed at IFAs who have clients who are trustees of registered pension schemes.
The Plan offers the choice of income (within set limits) or growth - or a combination of the two - for a specified member. Terms are typically 3, 5, 7 or 10 years (although other terms are available, up to a maximum ceasing age of 75). Commission rates vary based on the term of the Plan. Click here for details »
If the specified member survives until the end of the Plan term, a Guaranteed Maturity Amount (GMA) is returned to the trustees. This value is known from outset and is unaffected by stock market performance. The GMA is only payable at the end of the chosen term and is not payable on death of the specified member.
For added peace of mind, the Plan automatically includes Value Protection death benefit which will return the initial investment less any income paid to the registered pension scheme should the specified member die during the Plan term.
Main features of the Living Time Personal Investment Plan (PIP):
- Choice of Plan term, typically 3, 5, 7 or 10 years
- Minimum age at entry = 50
- Maximum age at entry = 71 years and 11 months
- Minimum investment normally £10,000
- Choose between income, growth or a combination of the two
- Income can be selected at outset from £nil up to approximately 120% of the equivalent Lifetime Annuity rate for the specified member
- Guaranteed Maturity Amount at the end of the Plan term
- Value Protection included for added peace of mind
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Points to bear in mind
- Death Benefits
If the specified member dies during the Plan term, the original investment less the total income paid to the date of death will be returned to the registered pension scheme and any growth will be lost. - Inflation
Inflation will reduce the capital value of the GMA in real terms and the value of benefits subsequently purchased. - No withdrawal or changes
After the application is received by Alico, the trustees buying the Living Time Personal Investment Plan have 30 days to change their minds. After that the funds cannot be moved or the benefits changed until the end of the term. If the trustees decide to cancel, we will return the funds back to the registered pension scheme. If, in the meantime, the value of the investment has changed, the amount returned to the registered pension scheme may be more or less than was originally invested into the Living Time Plan. Additionally the trustees will be required to repay any income that they have received to Living Time.
Quick links
This site and its content is designed for professional advisers only. It is not approved for use by individual consumers.
Alico is the insurance company that provides Living Time Plans.
Living Time Limited is an appointed representative of American Life Insurance Company (Alico). Living Time Limited is registered in England with company number 04750947 and has its registered office at 1 Conduit Street, London W1S 2XA. American Life Insurance Company is a private limited company incorporated with limited liability in Delaware, USA number 0123730. Head Office: One Alico Plaza, Wilmington, Delaware, USA 19801. Branch Office: 22 Addiscombe Road, Croydon CR9 5AZ. Registered in England number BR000230. Authorised and regulated by the Financial Services Authority (FSA reference number 139417).