Pension Annuity and fixed term annuities application process

We’ve outlined the key stages in our Pension Annuity and fixed term annuities application process so that you know what to expect at every stage, from the application being received through to the first payment being made.

 

 

  1. 1

    Complete application

    You'll need to complete one our applications below and send it to us.

     

    PDF: 386 KB

    Fixed Term Retirement Plan Application Form PDF: 408KB

    You can either post it to Legal & General Retirement PO Box 809 Cardiff CF24 0YL or email it to annuities@landg.com

    You can find more information on our products page.

    Our products
  2. 2

    Application received

    You will receive a welcome email from us to confirm that we’ve received your client’s application, we'll let you know if you need to supply any further information to support the application. We may also contact your client directly for missing information, to avoid delays.

    At this stage, we’ll start to request funds from your client’s pension provider, if we have the necessary information and details we require.

    Track My Apps is a unique and simple online tool that will help you follow the progress of your new business retirement applications.

  3. 3

    Funds received

    Once the funds are received, they'll be processed when we have all of the information we require from the ceding scheme (e.g. the transfer declaration), plus any outstanding items/information we have requested from you regarding your client.

    The ceding scheme is informed of the information we require to process funds when the transfer request is made. We're unable to process funds without this regulatory information, therefore, it's essential we receive this from the ceding scheme.

  4. 4

    Final quote

    Once we have received the funds and transfer declaration from your client's pension provider, we will carry out final checks and issue a final quote for your client’s retirement income policy if required / necessary.

    If we issue a final quote, it will be sent to you via the email that was provided on the application form. We can send the quote by post if you prefer.

    We'll authorise

    We’ll authorise the policy once final checks have been completed, if our annuity rates haven’t changed. If there has been a change to our annuity rates, then we’ll send the updated quote to you via email.

    If your client is happy with the final quote, you can confirm acceptance by replying to our email or by telephone. If the client is not happy with the final quote, please contact us within three working days.

  5. 5

    First payment

    Depending on the payment options selected by your client, payment will be made in advance or in arrears:

    Advance: The first payment will be received within five working days of authorisation.

    Arrears: Depending if monthly or yearly frequency has been selected, the first payment will be on the date the funds are received. For example, if funds are received on the 14 of the month and ‘monthly in arrears’ is selected, the first payment will be made on the 14 of the following month.

    Tax-free cash for Pension Annuity: If your client has chosen open market option your client will receive their tax-free cash as soon as the pension provider has released the funds. If they have chosen immediate vesting, then your client's tax-free cash will be paid within five working days of authorisation.

    Tax-free cash for Fixed Term Retirement Plan and Cash-Out Retirement Plan: Your client's tax-free cash will be paid within five working days of authorisation.

Contact centre

Intermediary Annuity Support Team

Speak to our team for help with your annuity quotes. Call our team on

0345 071 0040

Monday to Friday 9am – 4pm*

Or email them**

*Call charges will vary. We may record and monitor calls. 

**If you're contacting us by email please remember not to send any personal, financial or banking information belonging to you or your client because email is not a secure method of communication.