The Equinox Retirement Annuity
The Equinox Retirement Annuity offers you a personal retirement savings vehicle
that is simple, low cost, flexible and with a wide range of
investment choices. What's more, you'll have online, anytime, realtime access to manage your
retirement savings as you wish.
Find out more about retirement planning, retirement products, tax and legislation.
The Equinox Retirement Annuity Fund is a personal pension plan which has been designed
to allow self-employed people or those that wish to top up their existing
company provident or pension fund benefits to save for retirement in a tax efficient vehicle.
The Equinox Retirement Annuity Fund allows for flexible investing - that is, you decide what and when to invest - so it
is also ideal for those people who earn variable income such as commissions, performance bonuses or other windfall-type income.
Special Features
NOTE: Please understand that your investments in a Retirement Annuity are for your retirement.
You receive significant tax benefits and your funds are protected from creditors. However, the law also states
that you cannot access your investment until you retire and
you cannot use your investment as security for a loan.
See for more details.
As and When Contributions - No Penalties
Unlike most other retirement annuities,
contributions to the Equinox Retirement Annuity Fund can be made on an 'as and when' basis.
There are no penalties for reducing debit orders, varying the rates of contribution or stopping contributions.
Contributions may also be resumed without incurring any penalties.
No Penalties on Late Retirement
Unlike many other Retirement Annuities, there is no penalty for maintaining the
investments in the fund after the age of 55, because no commissions are paid
upfront.
Investment Choice
You have the widest choice of unit trusts to choose from.
As an investor in the Equinox Retirement Annuity Fund, you may invest in your own
selection of unit trusts on our platform that meet the requirements of compliance regulations and that
have passed our own quality assessment.
Alternatively, you may invest in the which is managed
by our own investment team for a marginal additional fee.
Low Cost Switching
If you choose your own selection of unit trusts, you can also switch as you please
between the funds available. Note that we do charge a minimal switching fee
(see ) and
the unit trust management companies vary between switch fees of 0 to 0.25%.
No Linked Insurance, No Extra Costs
Many RA's on offer include insurance components that make them more complex, with term tie-ins and penalties,
and greater costs. We believe in simplicity and clarity. The Equinox Retirement Annuity is an 'investment only' product.
This means that there is no linked insurance, either life insurance or disability insurance.
(Note that if you do require such insurance you will then need to source this separately, but
at least you will be clear on what you are paying for what!)
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Transfer From and To Other Funds
Transferring your Retirement Annuity benefits from another RA fund to Equinox is a relatively simple procedure.
Simply download the transfer form, fill it in and fax it to us. We'll contact your current fund and oversee the process.
Please call our Help Desk if you would like to discuss the process.
The Equinox Retirement Annuity Fund rules allow fund members to move their investment
to other service providers. The only restrictions imposed by Equinox are those that are required by law.
More Questions...
- Will there be limits on the number of switches permitted each year?
Currently no. However, excessive switching is generally not sensible investing given that the
costs of switching can offset the gains you might make.
- Do members of the Equinox RA pay commission to a broker?
No. New members are free to transact on their own behalf, saving three percent for
every contribution that you pay. However, if you feel you would like some advice on which
underlying unit trust to invest in, you can approach a financial advisor who will charge you for his or her advice.
If you choose to use the services of an advisor, you will need to negotiate and pay for those services in addition to
any fees you may pay Equinox.
- What investment choices do members of the Equinox RA fund have?
Investors will generally be able to choose from any of the unit trust funds that are managed
according to Prudential Guidelines. These funds include Asset Allocation Funds, Income Funds,
Targeted Return Funds and Money Market Funds. However, Equinox may qualitatively limit the selection
in the interests of our investors.
- Does Equinox sell post-retirement annuity products?
Currently, no. When you retire, you will be required by law to transfer 2/3 of
the benefit to a company that has registered post-retirement annuity products.
Please see our
Questions and Answers section for more, or contact us on
0860 378 466 or if you have any further questions
or queries.
