What is a PRB?
- A Personal Retirement Bond is a lump sum pension account designed to receive a lump sum payment from your former employer’s occupational pension scheme.
- Personal retirement bonds are also known as buy out bonds.
- To find out more about Retirement Bonds read our Personal Retirement Bond FAQ.
- Fees and charges apply.
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How a PRB can work for you
- You have a pension fund from a previous employer's company pension scheme and you want to take control of the investment of the fund.
- You are leaving your current employer's company pension scheme.
- Your current employer's company pension scheme is winding up.
- Fees & Charges apply.
- Choose from over 10,000 investments including 1,250+ investment funds. You have access to a wide range of asset classes, including cash, bonds, equities and alternatives.
Reasons to set up a PRB
- If you were a member of a Company Pension Scheme in a previous employment you can transfer the value of your pension benefits in the Occupational Pension Scheme to a PRB if you are comfortable making your own investment decisions.
- The trustees of your current Company Pension Scheme can set up a PRB for you if the Company Pension Scheme is winding up.
- A new Personal Retirement Bond can also receive a transfer from another Personal Retirement Bond.
Some pension risks
You are responsible for making all of the investment decisions in relation to your pension. Your choices may not be the best options.
As a result, there is a risk that the pension scheme may be underfunded by you and/or the value may be insufficient at retirement so that your long-term retirement needs may not be met.
It is important that you seek independent professional advice prior to making any decisions which have tax, legal or other financial implications.
Learn more about some of the risks that prospective investors should consider prior to making a decision to invest in a pension or retirement product.
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