Q&As: RL360 PIMS open architecture lump sum investment plan

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Questions and Answers

We realise that time can be in short supply, especially when you're on the road conducting client meetings. So we have pulled together this list of frequently asked questions to help provide you with the answers you need as quickly as possible.


Making changes to the plan

Q Can the plan basis be changed between life assurance and capital redemption after issue? 

A No. The plan basis cannot be changed after issue. 


Q Can the plan currency be changed once the plan has been issued? 

A No. The plan currency must remain the same as the currency selected at application stage.


Cash Account

Q Is there a minimum balance that should be maintained within the PIMS cash account? 

A A minimum of 2% of the plan value must be retained in the cash account throughout the life of the plan.



Q If my client decides to increase their plan, can the charging structure for the additional payments be different to the initial payment? 

A Yes. A charging structure that is different from the initial payment can be selected. 


Q Are the charges that apply on a PIMS plan taken every calendar quarter or the quarterly anniversary of the plan from the start date? 

A Any establishment charge or servicing charges are taken on the quarterly anniversary of the plan start date.



Q Can my client hold assets such as stocks, shares, cash deposits and structured products within their plan? 

A Yes, your client will be able to invest in an almost unlimited range of assets subject to our acceptance. For further details please refer to the PIMS Guide to Investment


Q Is it possible to use a third-party investment platform for dealing, rather than RL360? 

A Yes it is. We currently permit the use of Ardan Investment Platform through PIMS. No other platforms are permitted.



Q What is the maximum amount my client can withdraw from their PIMS plan? 

A A withdrawal cannot result in the plan value dropping below the minimum amount or 15% of the payments paid to date, whichever is higher. The minimum plan values are detailed in the PIMS Product Guide. 


Q Are withdrawals restricted within the early exit charge period? 

A Withdrawals must not exceed the minimum plan value limits as above - there are no additional restrictions during the early exit charge period.


Adviser Fees

Q Is there a limit on the amount of an investment adviser and/or financial adviser fee that can be taken? 

A Yes. Each fee cannot exceed 1.5% per year of the plan value however if a plan has both fees, the combined fee cannot exceed 2% of the plan value per year.