How the service works

By selecting the tabs below, you can find more information on the following:

• Features of the service
• How the service works
• Pre-sale illustrations
• Initiating a pension stock transfer
• Best practice for new accounts

The diagram below illustrates how the facility may be used for a client in drawdown. In this example, four separate accounts have been created – one to generate pension income, another to hedge against market volatility, with two further pots to account for medium and long-term needs – with each account adopting a different investment strategy.

New accounts are created by a simple stock transfer process within the client’s account (this option can be selected from the Account Summary screen). You can initiate a partial transfer or all the investments in the original account can be moved across*. Once an account has been created and the assets moved across, you can then execute trades, set up model portfolios, and confirm other settings (such as adviser or DFM fee rates).

* Please note the Standard Life Smoothed Return Pension Fund cannot be transferred to a new account.  In order to transfer money held in the Smoothed Fund, you will need to sell units from the fund and move the resulting cash.

Pension Savings Accounts

• Each Pension Savings Account is treated as a separate arrangement.

Pension Drawdown Accounts

• Multiple accounts may form part of one arrangement
• Once an arrangement is set up, assets cannot be transferred to another account within another Pension Drawdown Arrangement
• Investments can be crystallised into existing Drawdown Accounts in an arrangement
• Care should be taken when executing a second crystallisation to not inadvertently create a new arrangement when one is not needed. Crystallisation into existing accounts in existing arrangements usually gives more long-term flexibility and ease of administrative.