Introducing the Standard Life DC Master Trust - Retirement Section
This pension plan, Centrica Retirement Income Plan part of the Master Trust – Retirement Section, is provided by Phoenix Life Limited, trading as Standard Life. The Trustee for this pension plan is the Standard Life Master Trust Co Ltd. The Trustee provides independent governance and are responsible for looking after your interests.
Find out more about the Master Trust Board
Please make sure you read the Member Outline for full details on this Plan.
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What are the charges?
There are no set-up fees or transfer fees for moving your pension money into this plan. The plan rebate in the Centrica Retirement Income Plan part of the Master Trust – Retirement Section will be the same as the Centrica Savings Plan. Charges will depend on your investment fund choice. However, the ongoing charges may be different to what you currently pay. The charges you pay depend on the investment option you choose.
You’ll continue to receive a scheme rebate on the charges in place for managing your investments.
You can see the charges and rebate for each investment option in the next section.
Important information about charges
Find out more about charges, rebates and what you pay.
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Your investment options
As part of the transfer process, you’ll need to select where your money will be initially invested.
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Where you choose to invest your pension savings
Depending on the amount of tax-free cash you take, you will be asked to make an investment decision for any remaining money. For your savings pot you can choose from the low involvement option (also known as the ready-made option), which is the Sustainable Multi Asset Universal Strategic Lifestyle Profile (SLP), or you can pick from a list of self-select funds. For the money that is moved into your Drawdown pot, you will be asked to choose from either the ready to go Investment Pathways or from the list of self-select funds.
If you want to find out more about Savings and Drawdown Pots, please read our How Drawdown Works guide (PDF, 205KB).
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If your retirement plans change, then you can switch your pathway or selected investments at any time. You should think carefully before making any changes, as this will impact how your plan is invested.
Please note you may have a wider choice of investments if you choose a different pension provider. If that’s important to you, then you should shop around to make sure you find the investments that are right for you.
Investment Pathways
Invest in the Standard Life Investment Pathway Option 1
By choosing the Standard Life Investment Pathway Option 1, you won’t be planning to access your money in the next five years.
It’s designed for the long-term, so more than five years, to aim to grow your money. You might see the value of your money going down as well as up a lot in the short term.
Read the Option 1 fund factsheet
What are the total charges and costs?
This information is correct as at [[chargedate]]. Charges and rebates may change in the future. For more information on all the options available, please read the ROMT Investment Guide.
Invest in the Standard Life Investment Pathway Option 2
By choosing the Standard Life Investment Pathway Option 2, you’ll be planning to buy a guaranteed income (annuity) in the next five years.
It’s designed to help lessen the impact of changes in annuity rates so when you come to buy a guaranteed income, you’re less likely to be affected by changes in the cost of buying one. You may still see the value go down as well as up, sometimes by a lot.
Read the Option 2 fund factsheet
What are the total charges and costs?
This information is correct as at [[chargedate]]. Charges and rebates may change in the future. For more information on all the investments available, please read the ROMT Investment Guide.
Invest in the Standard Life Investment Pathway Option 3
By choosing the Standard Life Investment Pathway Option 3, you’ll be planning to start accessing your money within the next five years and for it to last longer.
It’s designed for the long-term, so more than five years, to aim to grow your money while offering some stability. You may still see the value of your money going down as well as up in the short-term.
Read the Option 3 fund factsheet
What are the total charges and costs?
This information is correct as at [[chargedate]]. Charges and rebates may change in the future. For more information on all the investments available, please read the ROMT Investment Guide.
Invest in the Standard Life Investment Pathway Option 4
By choosing the Standard Life Investment Pathway Option 4, you'll be planning to take all of your money in the next five years.
It's been designed with this in mind so you could expect it to aim for relatively stable returns. Its value may still go down as well as up.
Read the Option 4 fund factsheet
What are the total charges and costs?
This information is correct as at [[chargedate]]. Charges and rebates may change in the future. For more information on all the investments available, please read the ROMT Investment Guide.
What next?
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Are you ready to access your pension money?
Understand how transferring to this plan works and the choices you have.
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Ready to consider your retirement options?
Find out more about the different ways you can access your money.
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I'm ready to transfer
If you’re confident with your decision to transfer you can start the process here.