John is 64, married to Jane, who is 62. John’s pension fund is £75,000, net of PCLS, which represents the bulk of their pension savings.

John is keen to retain control of his investment as much as possible and to ensure that Jane can use it to fund her own retirement if he were to die before her.

Benefits to John

Risks to bear in mind

• The Just Retirement Fixed Term Annuity offers a guaranteed income (within Government limits) for a fixed term.
   
• Plan Protection offers a lump sum death benefit to ensure the residual fund can be passed on to Jane.
  The full lump sum could be used by Jane to secure an income in her own right.
   
• It could also be used for any other purpose (subject to a tax recovery charge of 55%).

• The level of income Jane can secure with the Plan Protection lump sum will depend on annuity rates at that time and cannot be guaranteed. It may be higher or lower than the income John received from his Plan
   
• If death benefits have not been selected for John’s dependant and/or beneficiaries on his death, or those he had selected are no longer applicable, nothing further will be paid from the Plan.