Skip to content
0141 572 0900
About Us
Services
Planning
Protecting
Borrowing
Insuring
Workplace
Mortgage Service
Blog
Contact
About Us
Services
Planning
Protecting
Borrowing
Insuring
Workplace
Mortgage Service
Blog
Contact
Retirement Options
Retirement Options
Step
1
of
5
20%
We are committed to giving you the best possible financial advice. This can only be achieved by obtaining detailed knowledge of your circumstances as well as an understanding of your attitude to risk and feelings towards your pension scheme. It is therefore in your best interests to complete this form as comprehensively as possible. We will retain this form as a written record of the information disclosed. A copy will be made available to you on request.
Retirement Options Client Attitude Questionnaire
Personal Details
Name
Mr
Mrs
Miss
Ms
Dr
Prof.
Rev.
Prefix
First
Last
Date of Birth
Day
Month
Year
Marital Status
Married
Single
Divorced
Widowed
Civil Partnership
Living with Partner
Health
Excellent
Good
Average
Poor
Is your health likely to
Improve
Remain unchanged
Decline
Retirement Objectives
Do you require a tax-free cash sum from your pension
Yes
No
What is the purpose of this lump sum
If YES, how much do you require
If you do not require your full entitlement to tax-free cash will you need access to it in the future
Yes
No
If NO, are you prepared to use this entitlement to maximize the tax efficiency of income
Yes
No
Please indicate which statement best describes your circumstances regarding the tax-free cash
Tax-free cash is most important to me and I want to access the maximum available and then consider my income options
I need to access some of my tax-free cash immediately for capital expenditure and would want to access the balance in the future possibly under pensions freedoms.
I’m planning to use the tax-free cash to supplement my income
My income needs are more important than tax-free cash. I would be prepared to leave my tax-free cash within the fund to increase my income.
Do you require your income to increase each year in retirement
Yes
No
Do you require the maximum possible income throughout retirement
Yes
No
Do you require the opportunity to vary your income according to your needs
Yes
No
Do you foresee changes which may cause a greater or lesser income requirement
Yes
No
Retirement Income
How much income do you think you will require over the next 10 years? If you have any known capital expenditure then please confirm details of these amounts in the ‘Notes’ section at the end of section 5.1
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
To help establish how to provide for your income requirements, please choose the statement which most accurately reflects your needs
This pension fund will be an important source of income. I need to be sure that the income it provides is secure and will be guaranteed
The pension fund is important to me but it is not the only source of income that I have. I am prepared to accept some risk in the pension benefits if it means that I may end up better off. Possibly accessing some of the fund under pensions freedom
For the foreseeable future the income that I receive from this plan is not important to me. I want the pension fund to grow for my future benefit.
You can choose to have some control over the level of pension income that you receive. Please choose the statement which best suits your immediate circumstances
I need to fix now the level of income that I’ll get throughout retirement so that I know exactly where I stand
I would like some or all of my retirement income to be guaranteed, whilst not impinging on the lump sum death benefits
I want to have as high a level of pension income as possible for the next few years, even if it might be lower later
I’d rather start with a lower income so that I can draw more later
I need a certain level of income each year but, beyond that, I can be flexible
My circumstances are such that my pension income requirements are likely to vary from year to year
Health & Death Benefits
It is important that when you make decisions regarding your spouse/partner’s death benefits, you take account of health and family history. Which of the following best describes your spouse/partner’s circumstances
I have no spouse/partner
My spouse’s/partner’s state of health is good and should not have a bearing on determining our income and capital needs
My spouse’s/partner’s state of health is good but I would like to keep my options open
My spouse/partner has some health problems and this should be taken into account when assessing my retirement options
What should happen to any remaining pension fund when you (and your spouse/partner) have died? Which of the following statements best reflects your attitude to this option
I have no close family and am not worried about leaving any pension monies to them
The most important thing is to provide for myself and my spouse/partner. Subject to that, if some of the capital can be left to my family, great
I’d prefer that the fund does not die with me and my spouse/partner would like my dependants to benefit from this pension fund
Protecting the fund for my heirs in the event of death is very important
Do you have any dependants
Yes
No
Upon your death do you wish to make provision for your spouse
Yes
No
Would you want this provision to be fixed at outset or have the ability to vary it as circumstances change
Yes
No
Would you like the opportunity to leave part of your pension fund to your estate on death
Yes
No
You will need to consider the impact of any decisions that you make on your spouse/partner. Which of the following best describes your circumstances
My spouse/partner has an adequate income and this should not be a significant factor in my decision
I would rather maximise our income now for our joint benefit. If I predecease my spouse/partner the income shortfall will be met from other sources (e.g. move to a smaller house)
I would rather maximise our income now for our joint benefit. However, if I predecease my spouse/partner I would like the income to be maintained for the benefit of my spouse / partner
I do not want to make a decision on spouse’s/partner’s benefits yet, but would rather keep my options open
I have no spouse/partner and expect to remain single
Your state of health could have a bearing on the decision that you make. Decisions made can be irreversible and so care should be taken in answering the following
My health is good and should not have a bearing on my income and capital for the foreseeable future
I have some health problems and this should be taken into account
I have significant health problems which are likely to affect my life expectancy.
If you are in ill health or smoke, you may qualify for an increased pension income through enhanced annuity rates. If you answer yes to any of the following questions it may be worthwhile applying for enhanced rates. Please circle the correct answer below
Do you smoke
Yes
No
Do you or have you ever taken prescription medicine
Yes
No
Have you ever been hospitalised for a medical condition
Yes
No
Do you or your employer expect to carry on paying pension contributions in the future? If yes, please provide details in the Notes section on the next page including likely amounts
Yes
No
Suppose your pension fund were left invested whilst you draw an income from it. If, say, after a year, a blip in the markets causes your fund to drop in value by ten percent, which phrase best summarises your reaction
This pension fund is an important source of income to me. I would not be happy if external factors caused it to fluctuate and would like to consider the option of a built in guarantee
I would be disappointed but I accept that the fund is invested for the longer term. I would review my income requirements with my financial adviser to see if there would be any long-term effects
The income from the plan is not as important as long term capital growth so I would concentrate on improving the capital performance
Annuity rates determine the level of income that you receive from your pension plan. Which of the following statements reflects your view of the outlook for pension income
I’d rather buy an annuity now and make sure I’ve got a secure income, even if I find later that I would have done better by waiting.
I’d like to secure part of my pension now with an annuity, but keep my options open on the rest of the fund
I’d rather defer buying an annuity for the time being
I’d rather defer buying an annuity for as long as possible
You should keep in mind the effect that taxation will have on your pension income. Which applies to you
I am a higher rate tax payer and expect to remain so
I am a higher rate tax payer but expect my tax rate to fall after retirement
I am a basic rate tax payer and expect to remain so
I am a basic rate tax payer but could well become a non-tax payer
I am a basic rate tax payer and am likely to become a higher rate tax payer in the near future
You should keep in mind the effect that taxation will have on your pension income. Which applies to you
I am a higher rate tax payer and expect to remain so
I am a higher rate tax payer but expect my tax rate to fall after retirement
I am a basic rate tax payer and expect to remain so
I am a basic rate tax payer but could well become a non-tax payer
I am a basic rate tax payer and am likely to become a higher rate tax payer in the near future
Investment Attitude
Risk and Reward
I am happy to accept a larger degree of risk in exchange for the possibility of a higher pension in the future
I do not mind a reasonable degree of risk in the hope that my benefits could be higher in the future
I do not consider it appropriate to expose myself to anything other than a minimal amount of risk in the hope of increasing my pension benefits
I require no risk and maximum guarantees
Notes
Your Priorities
Supplementary Questions
The following points are important to consider when dealing with retirement choices. Please consider each of these options and confirm which of the following statements most closely matches your own views: Guaranteed annuity rates or Guaranteed Pension - this valuable feature, sometimes referred to as Safeguarded benefits, commonly allows for a fixed and usually higher level of pension income from the existing plan than could be purchased elsewhere.
If my pension plan has some form of Guaranteed Annuity / Pension then this is likely to be of more importance to me than having access to a more flexible type of pension income
If my pension plan has some form of Guaranteed Annuity / Pension then I would need to look at the level of income it will provide before deciding on whether it will be of interest to me
I have no interest in fixed income and my main objective is to secure an income which is as flexible as possible because I feel this more closely fits in with my circumstances
Inflation
Over time, the costs of goods and services tend to rise and this is known as inflation. For this reason, it is important for you to be aware of how this will affect your pension income. Please consider the following statements and confirm which one most closely matches your own view:
I am aware that inflation will affect the purchasing power of my pension income in the future but I am more interested in obtaining the highest level of income possible at outset.
I would like to ensure that my pension income continues to keep pace with inflation and I am prepared to accept a lower level of income initially to incorporate this additional option
I am unsure at present as to whether I would like to protect my pension income against the effects of inflation and would need to see how much this feature would cost before deciding
Pension Lump Sum
Under new rules that were introduced by the Government, from 6th April 2015 it is now possible to take as much money as you wish out of your pension plan, subject to income tax at your marginal rate. You will still be entitled to the element which is tax free (usually 25% of the policy value). You should note that pension benefits are designed to provide you with a means to support yourself in retirement, so it needs careful consideration as to whether spending all your pension now is a good idea. If you do spend your retirement benefits early then you are likely to have to rely on what is likely to be a small state pension in your old age. Bearing in mind the above, please consider the following statements and confirm which one most closely matches your own view:
I am aware that taking all my pension as a lump sum is likely to adversely affect my future retirement income but I feel that I have other pension plans / investments to rely on so I am willing to consider this option for some of my pension funds
I am aware that taking all my pension as a lump sum is likely to adversely affect my future retirement Income but, as I only have a very small pension fund, I do not feel that this is relevant in my case as the Regular income I am likely to receive from this plan is likely to be minimal
I want to ensure that my retirement years are as comfortable as possible therefore my priority is to provide the most appropriate form of pension income and I do not wish to consider encashing any of my pension plans in full.
Other
Other
please explain your own views if none of the above fit in with your objectives:
I confirm that the information I have provided is correct to the best of my knowledge. I have provided this information on the understanding that it will be used in confidence and that it does not place me under any obligation to buy, or take up any recommendations made
Thank you for taking your time to complete this questionnaire. Please now complete the annuity and medical questionnaire, duly attached. This will enable us to research the entire market place as preferential terms may be able to be secured with another provider, This could increase you pension income by up to 30 - 40% in some circumstances.
Consent
I agree to the privacy policy.
CAPTCHA
Scroll to Top
