Withdrawals and account closing

Information on making withdrawals from our Pension can be found here.

If you choose to pay income to a client’s bank account, we will set up a natural income withdrawal plan. This will consolidate any natural income – such as dividend payments and income distributions – into one regular payment to the client.
 

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• Selecting a payment date
• Amend bank details

To pay out 'natural income', select 'Quote & Transact' screen within Client Management.

You can choose the frequency at which the income is to be paid; monthly, quarterly, half-yearly or annually, as well as a choice of payment dates for the income to be received in the client's bank account; 1^st, 10^th, 17^th or 25^th.

The process of income payments begins four working days before the chosen payment date.

Income set aside to be paid to a client's bank account is held as cash until it's due for payment. During this time the cash is reserved specifically for this payment and can't be used for any other purpose.

If you would like to update your client’s bank details used to make regular withdrawals or redemption payments, you can do this online. To add a bank account, simply click into the ’Client Summary’ and ’manage personal details’, where you will be able to add the bank details.