A Personal Pension is flexible and simple.
With a Personal Pension Account you simply pay into the plan and basic rate tax relief is added from the Government.
If you pay 40% or 45% income tax, you can reclaim additional tax relief directly from HMRC.
This money is invested to provide you with a private pension 'pot' (fund value). Then you use this pot of money to take benefits any time after age 55 (57 from 2028) - whether you are still working or not!
From the 16th March 2020, it will not be possible to open a new Personal Pension Account.
We will also be closing the Personal Pension Account’s With-Profits fund to new investments from this date, although existing regular payments can continue into this fund.
Existing customers invested in our unit linked funds can continue to pay into these funds and add additional money.
Our Select Pension Plan provides a flexible and simple way to save for retirement. It also provides the option to start a pension for your children, providing a valuable head start in life.
Speak to an NFU Mutual Financial Adviser about setting up your pension, and they’ll be able to help find the right option.
Key features of the NFU Mutual Personal Pension Account [PDF: 201KB]
Fund switch, payment redirection and lifestyle switching strategy form [PDF: 98KB]
A guide to unit-linked investments [PDF: 118KB]