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Personal Retirement Account Q&As

History

Q Under which brand was the Personal Retirement Account originally sold?

A The Personal Retirement Account was originally sold by CMI Insurance Company Limited. RL360 Group completed the acquisition of Clerical Medical International in November 2015, and Personal Retirement Accounts are now administered under RL360° Services.


Q How long was the Personal Retirement Account designed to be held?

A The Personal Retirement Account was designed as a medium to long-term investment, and should therefore be held for at least 5 years.


Changing the policy

Q Can the policy basis be changed after issue?

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


Q Can the policy currency be changed?

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


Funds

Q What funds can I choose?

A You can choose from a range of investment funds. We provide a Fund Centre page to keep you informed about the fund range and their past performance.


Q Do I get charged for changing funds?

A You may switch funds up to 12 times in any calendar year, free of charge. If you request more than 12 switches, you will be charged 1% of the value of your switch, subject to a minimum charge of £10 and a maximum charge of £250.


Q Can I hold assets such as stocks, shares, cash deposits and structured products within my policy?

A No. You can only access the funds available in the Personal Retirement Account fund range.


Q Who is responsible for my fund choices?

A You or the company you nominate to act on your behalf. RL360° Services does not provide investment advice and will not provide you with guidance as to which funds are suitable for you.


Withdrawals

Q Can I take withdrawals from my Personal Retirement Account?

A Yes. You can take regular withdrawals subject to a minimum of £200 ($300 or €300) and a maximum of 10% of your premiums paid per policy year.


We recommend you discuss the tax implications of taking withdrawals with your financial adviser.


Online Services

Q Can I view the performance of my Personal Retirement Account online?

A RL360° provides online access for it's own policyholders, and we fully intend to provide RL360° Services policyholders with online access too, in due course.