Annuity form

I don’t have a letter – what do I do?

This offer only applies to particular policies and each eligible policy will have its own letter. If you have not received a letter then you are not eligible at this time.

Thank you for your interest

If you change your mind or require more details please call us using the number on the top of your letter.

What you'll need

• Your letter titled – “A limited offer to swap your future pension payments for a one-off lump sum payment.”

• An email address, this is not mandatory but advised so that we can acknowledge receipt of your claim

• The date of your letter.

How is the information I provide used?

The information that you provide will be transferred to your claim form once you have checked and confirmed that you are happy to proceed at the end of the application process. This will then be used to process your claim.

If you would like to know more about how Phoenix Life may collect, use and process your personal information please see our Privacy Notice.

For more questions and answers please visit our Q&As page.

To continue please select "Next"

Eligibility & Risks

Are there any circumstances which could mean that I am not eligible to accept this offer?

If you are receiving this pension as a spouse’s or dependant’s pension then you can accept the offer.

You cannot accept this offer if:

• You bought your pension through an individual pension contract* and you have accepted three other offers of this type in the past;

OR

• This pension was bought from your employer’s money purchase (also known as a defined contribution) occupational pension scheme, and it does not represent all of your benefits from that scheme.

*Individual pension contracts include retirement annuities, personal pensions, free-standing additional voluntary contributions (FSAVCs) and buyouts of pension rights from a previous employer’s scheme.

If you are unsure of what policy you have or whether you are eligible to accept this offer, please contact us by using the phone number on your letter.

If you accept our offer, your policy with Phoenix Life will end. You should therefore consider very carefully whether you wish to accept our offer.

What will it mean if you do take the lump sum?

• The decision to take a lump sum is final – you cannot change your mind.
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• No further payments will be made to you, or any dependants, after your death.
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• Receiving a lump sum payment could impact any state benefits you may receive.
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• There is a danger of running out of money during retirement for yourself and your dependants.
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• Research has shown that ‘most people’ underestimate their own life expectancy and their income needs later in life.
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• If you have any outstanding debts, creditors may have a call on any money you receive from taking a lump sum.
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• If you are considering re-investing your money elsewhere you should be aware of the risk of investment scams.

How to contact us

If you have any questions you can call our Customer Helpline or write to us if preferred. Our contact details and opening hours are shown at the top of your letter, together with the policy number and our reference details which we will need you to provide when contacting us.

Your personal details

We need some information:

We now need your personal details and policy information as detailed in your letter. We may need to make contact with you for additional information so we also need a telephone number and an email address to acknowledge receipt of your claim form. Please complete the form below. This information will be used to pre-populate your final claim form.

If you would like to know more about how Phoenix may collect, use and process your personal information please visit our Privacy Notice.

Is my information secure?

We understand that security of information is of upmost importance so we want to reassure you that any information that you enter here will not be saved or stored online. Once you confirm that you wish to proceed by selecting the submit button at the end of the next page, this information will be fed through to your final claim form and cannot be retrieved online.

This offer only applies to the policy entered. If you have more than one letter, each letter relates to a different policy and you will need to make a separate submission for each one that you would like to accept.

Any other policies that you have will not be affected and will continue as normal.

Please use the information as detailed in your letter:

Policy details:

Your details

Current address

Your contact details

Declaration

I understand that the lump sum payment will only be paid to me and it will be paid as per my current method of payment. It will not be made to any third party.

I wish to swap the pension benefits under this policy for a lump sum.

Risk Warnings

• I understand the decision to take a lump sum is irreversible.
• I understand that the payment made will be subject to income tax.
• I have considered that the payment may affect any means-tested benefits that I currently receive.
• I understand that all future payments, including any that might be made to a spouse or dependant who survives me, if applicable, will stop.