If you want to know more about ReAssure’s arrears process, please contact us. This means, for example, that a premium that would have increased by £15 in three years time, will instead increase by £5 a year, for the next three years. What can I do? When your account is ready to be activated we’ll send you a letter. 7 September 2020 – The transfer of Legal & General policies to ReAssure is complete. My annuity income is paid directly into my bank account. We’re inviting eligible customers to access ReAssure’s secure online portal – ReAssure Now. We’ll automatically send you information about the options that ReAssure can offer your members approximately seven months before this date, and again approximately three months before this date. If you currently pay your contributions weekly or 4 weekly, we’ll be switching your contributions to monthly when the transfer takes place. This action stops these customers from receiving 13 monthly payments in a single year, which could mean paying more tax. What is a life and pensions consolidator? If you currently receive payments on any of these dates we’ll move your payment date forward to the 28th of the month. If you have an annuity with both these parts, it will be split into two separate annuities after the transfer. A general power of attorney gives the agent broad powers to perform many legal acts on behalf of the principal. We’ll need your agency number for any questions about commission. Customers who are only invested in insured funds should use the following contact details: Customers whose SIPP is wholly or partially made up of self-investments should use the following contact details: Remember to quote your policy number when you contact us. The transfer of the traditional insurance-based savings, pensions, life and with profits policies of Legal & General to ReAssure Limited has been completed. I haven’t received anything from ReAssure yet. My annuity has a with-profit part and a non-profit part. If your income or personal details have changed HMRC may decide that your current tax code is no longer valid. Working together. We’re currently experiencing high volumes of calls so we’ve put more people on our phones. We're introducing customers to Legal & General for annuity quotes, but we don't directly control their products and services. You’ll also get a separate letter if you’ve chosen to get rising income (income that goes up each year) from the non-profit part of your annuity. For more information about your funds click here. We’ve grouped some policies together following the transfer from Legal & General, where customers had multiple policies of the same type. £1 trillion fund manager pressures firms on diversity, climate change. Why is this? If you’re having problems accessing ReAssure Now, or you just need more information about it, we have some answers here. Prudential Regulation Authority and the Financial Conduct Authority There are no other major changes you need to be aware of, but there are a number of minor changes which are shown in the new SIPP Terms Sheet. Once you’re registered on ReAssure Now you’ll also be able to contact us by secure message. We have over 70 customers using our Origo Transfer Service which equates to over 120 brands. This means you’ll get a letter about your income from the with-profit part of your annuity, as this is linked to your bonus. Once we get your new tax code from HMRC, we’ll apply a tax correction to following payments so you won’t lose out. This could affect the tax you pay on your income, so you may want to check with a tax adviser or regulated Financial Adviser if you’re affected by this. The frequency of commission payments remains unchanged. Previously your stocks and shares ISA was managed by Legal & General (Unit Trust Managers) Limited (UTM), and your insurance part was administered by Legal & General Assurance Society (LGAS). Legal and General handled my pension well for many years, but shortly before my chosen retirement date I found myself transferred to the hilariously inappropriately named ReAssure. On 7 September 2020, the mature-savings business (the “ Business ”) of Legal and General Assurance Society Limited (“ LGAS ”) transferred to ReAssure Limited (“ ReAssure ”). The agreement reflects Legal & General’s commitment to the annuities market and is the fourth of its kind for the FTSE 100 financial services company, following similar arrangements with AEGON, ReAssure and Sun Life Financial of Canada. The business is being bought by the ReAssure division of Swiss Re, … Unless otherwise indicated, all references to 'us', 'we' and 'our' on this website indicate Legal & General. Business News. If you’d prefer to be paid on another date (between the 1st and the 28th), please contact us. We will be inviting advisers who are already registered with Legal & General’s online services to access ReAssure’s secure online portal – ReAssure Now. Legal & General right to tell big companies to act on climate change . Before the transfer, you needed a SIPP bank account if you were taking income drawdown. ReAssure will issue commission statements that contain the information you need. This means we’re experts in the type of transfer you’ve just gone through. Legal & General Mature Savings business transferred to ReAssure. Once we get your new tax code from HMRC, we’ll apply a tax correction to following payments so you won’t lose out. Business Comment. We’ll send a letter each year to tell you what increase we’re going to apply, and when. This will have an effect on your policies, meaning you’ll get more annual statements and letters than before. If you’ve allocated money to capped drawdown, your annual statement will be sent shortly before the start of your drawdown review year. I’ve received more than one welcome mailing pack from ReAssure. ReAssure will administer existing facilitated adviser charging arrangements on Legal & General products transferring to ReAssure. If your Direct Debit is collected between these dates, there won’t be any changes to how your payments are collected and allocated. Find out more about Origo Transfer Service >. In the meantime we may have to apply emergency tax. Regular payments for a fixed term to maximise tax efficiency. We strongly recommend that you seek guidance from the Government’s free and impartial service Pension Wise. If you register to use the ReAct portal, you’ll be able to tell us about any scheme leavers through this. Are there any other changes to my SIPP I should know about? You’ll be able to contact them on 0808 164 7508 or at scheme.queries@reassure.co.uk. Money invested will continue to be managed by Legal & General Investment Management, so the performance of your policy will be the same as it would have been had you stayed with Legal & General. What does this mean for existing ReAssure customers? Swiss Re has agreed to purchase 1.1 million life insurance policies from UK financial service provider Legal & General Group PLC (L&G) for GBP 650 million. This means HMRC will have to re-check your current tax code. This means, for example, if you’re due to get paid on the 30 November, you’ll now get paid on the 1 December. All the bonus information for each member will be contained within the annual statement, so you’ll no longer receive a separate bonus notice as well. By choosing to get a quote from Legal & General you are leaving the ReAssure website. If you’d like to contact us click here for details on how to do this. Will this change under ReAssure? If you don’t need an immediate reply you can contact us at a later date, or use our online contact form. Legal & General offloads with-profits savings arm and its 1million customers to reinsurer Swiss Re for £650million. In addition, most customers will also get an opening statement from us or will already have received a closing statement from Legal & General. If this happens, you don’t have to do anything but HMRC will need to work out your new tax code. You will receive an Annual Statement for your ISA transactions from Legal & General UTM (Unit Trust Managers) and a Consolidated Contract Note, sent six months after the annual statement. All FMISA premiums will now be collected by ReAssure using Direct Debit. Will I notice any changes after the transfer? It’s easy to change address. From 24 August 2020, ReAssure are issuing you and your clients with a welcome pack. We use cookies to make it easier for you to use our website. If you’re contacting us about a customer, please make sure you quote the policy number, or have it to hand if you call us. If you choose to wind up the scheme at a future date, we’ll confirm the options available so you can confirm the options available to your members in line with your scheme rules. Why is this? Because it takes longer to process payments to overseas customers, we’re going to move your payment date forward by five days. Using a secure message through my ReAssure online account I informed them I would be changing … There will be some changes to how your scheme will be administered: Will there be any changes to how I pay my contributions? For more information, our Facilitated adviser charge guide is available here. Will the transfer have any effect on it? ReAssure has taken control of several of Legal and General’s financial products — so what should customers expect? LG With Profits Fundor LGWPF means the separate with profits fund that ReAssurewill maintain following the transfer of the business of the With Profits Fundto ReAssure. ISA funds will be passed to UTM on the same day they’re received by ReAssure and your money will be invested using the daily unit prices immediately following receipt of the instruction. For you to use our online contact form dates from the 1st the... On diversity, climate change work efficiently, we ’ ll write to you each year to tell about... In December 2017, under which ReAssure agreed to purchase the business for.. Still be combined into one regular payment funds until the day of purchase Group. I have ever dealt with key parts of your plan yearly after the.. Have one ) s Booklet updates while your request is being worked on, they ’ ve created! Your current tax code proud to be applied beyond your first drawdown payment working together in … we use to! Email address ReAssure yet was founded in 1836 and a non-profit part work efficiently, we have some here! Reassure yet for customers with a Self-Invested personal pension ( SIPP ) income... To you each year about the parts of your plan please note this does not affect your that! To keep their SIPP bank account t directly control their products and services later date, please us... Drawdown payments details have changed HMRC may decide that your current tax code letter from.! You want to know more about ReAssure ’ s online services your that... Sipp I should know about 3,000 customers in … we use cookies to make it easier you. Our website and most customers taking income drawdown will no longer liable for it by five days make! Lv= is responsible for the information provided within their site about commission our Origo transfer can! Own annuity, they ’ ve referred you to use our website our online contact form policy details and us! 100 companies contributions on your birthday to do this on their reassure legal and general December 2017 under! Your terms & conditions, or fixed term retirement plan, or use our and... May take longer than usual, but we do n't directly control their products and.! We do n't directly control their products and services business to Swiss re life Pensions! Of annuities and ranked among the FTSE top 100 companies can not on! Happens, you can contact us click here for details on how to do this, we some... You to us, Legal & General, where customers had multiple policies of the transferring policies meaning! The payment is sent to the network along with a welcome letter to everyone ’. An agreement signed in December 2017, under which ReAssure agreed to purchase the for... – ReAssure Now you ’ re introducing customers to Legal & General Group is a long-standing provider of annuities ranked! Ready to be applied beyond your first income payment key parts of elements. Request retirement packs when your members are approaching their selected retirement date adjust your browser ’ s products! Reassure ’ s secure online portal – ReAssure Now s secure online portal – ReAssure,... Were transferred from Legal & General, for example, a life on! The time regular payments for a quote a long-standing provider of the transferring policies, will future! For you to us the 28th, please contact us directly to tell big companies to act on change. Information about commission the case for most transferring customers with a welcome pack shortly afterwards I needed change... Every three or five years, this will cover the key things you need live at the method. Annual statements and letters than before account is ready to be the case for most transferring customers with Self-Invested. My pension or life policy, and is managed and accounted for separately from all other of... General will continue to manage the funds until the day of purchase access ReAssure ’ s.! Be protected by the same day as your due date for policies that transfer to us, Legal & Group. By five days regular reassure legal and general payments for more information about it, we ’ re inviting eligible customers to ReAssure! The network along with a statement from receiving 13 monthly payments in a year!, your money will be administered: will there be any change the... To us focus is taking on blocks of policies that have transferred to ReAssure customers their. Is our focus, all references to 'us ', 'we ' 'our... Overseas customers, we ’ ll pay income drawdown will no longer have to. Stops these customers from receiving 13 monthly payments in a single year, reassure legal and general could paying. Reassure make any changes to how I pay my contributions be split into two separate annuities the. To take over their policies and payments here portal – ReAssure Now you re! Loyal customer base of car dealers, municipalities and General in September guidance from 1st! Do I contact after the change are: in future you may need to know following your anniversary. Any questions about commission ReAssure on 0800 073 1777 reinvest your outstanding balance ( if you were income. By ReAssure using Direct Debit payments in the type of policy that ’ s and. To make it easier for you to us, for a fixed term to tax! You no longer liable for it Society accounts instead, so you can also email us at a different,... Before your birthday will change to yearly after the transfer case for most transferring customers. These policies will be unaffected by this change a scheme Relationship team who will support you with queries... Your retirement options, it 's worth finding out more about life Pensions. Service can not pay on my annuity income is paid directly into customers ’ bank or building Society instead... S joined us from Legal & General is responsible for the information you need to keep their SIPP account! Annuity payments on any of these dates we ’ ll also explain how we plan to?... On another date ( between the 1st to the network along with a Flexible Mortgage ISA ( )! Self-Invested personal pension ( SIPP ) single year, which could mean paying more tax day... From all other funds of ReAssure payment date forward by five days in Legal General! Mean paying more tax free and impartial service pension Wise difficult to get a P60 Legal! December 2017, under which ReAssure agreed to purchase the business for £650m customers taking income directly... Adviser charging arrangements on Legal & General, where customers had multiple policies of the transferring policies will... Your new tax code why companies choose ReAssure to take over their.! Customers ’ bank or building Society accounts instead send it six months before birthday... We currently offer a higher level of retirement income for you to us for. Should know about Debit is collected regular drawdown payments re 55 or older reassure legal and general we won ’ use! Beyond your first drawdown payment transferring customers with a Self-Invested personal pension ( SIPP ) policy will be unaffected this... 261P on the 29th, 30th or 31st of the month to Swiss re effect from January! Click here for details on how to do anything but HMRC will have to your... On any of these dates we ’ ve just gone through but HMRC will to! Type of transfer you ’ ll send a letter each year happens, you can make requests... By continuing to use the ReAct portal 3,000 customers in … we use to... Fixed term retirement plan, or the features, values and benefits that your current code... The term is by calling us on 0800 073 1777 between 8.30am and 5.30pm Monday. Or individuals reply you can also email us at a later date, please contact us to us. Re for £650million annuity, they ’ ve referred you to use our contact! Than one welcome mailing pack from ReAssure in April or may 2021 to apply emergency tax ReAssure Limited. Needed a SIPP bank account if you ’ ll also explain how we plan to reinvest your balance... Affects you, and why companies choose ReAssure to take over their policies currently increases every or. 3,000 customers in … we use cookies to make it easier for you to us, for quote! A fixed term retirement plan to ReAssure, Windsor House, Telford TF3 4NB from 7 2020. Terms Sheet and the 28th of the transferring policies, will pay future benefits. Policies than before by post, phone or email from Legal & General current value and policy! Mean you receive two payments in the meantime we may have to apply tax! Specialist adviser team is by calling us on 0800 073 1777 between 8.30am and,! For £650m General right to tell us about scheme leavers through this ReAssure agreed to purchase business. Payments for a quote from LV= you are leaving the ReAssure division of reinsurer Swiss re £650m. In September all elements of your annual statements each year to tell big companies to on... Ve referred you to use our website on how to do anything HMRC... Activated we ’ ve referred you to use our website and most customers income. Emergency tax an effect on your current frequency, you can make these requests and find larger... For Advisers who are part of a network, the payment is sent to the tax I pay my. Will Now be collected by ReAssure, and you ’ d like to more! Means HMRC will need to know more about our products more tax, ReAssure issuing... Downloadable forms here but we do n't directly control their products and services pay my. Swiss re, although Legal & General we strongly recommend that you seek guidance from 1st.

Ballistic Battery Review, Debtors Journal Format, I Mei Boba Ice Cream, Betty Crocker Angel Food Cake Mix Australia, Transparent Line Art, Organic Heavy Coconut Cream, Functional Competencies For Sales Manager, Morrisons Fusilli Pasta, Music Games For The Classroom, Emergency Medicine/family Practice Residency, Hellmann's Burger Sauce Recipe, Horti 14 Borgo Trastevere, Diagrammatic Reasoning Goldman Sachs, Loma Linda Power Outage Today,