What is the ITC Buy Out Bond?
The ITC Buy Out Bond is an individual pension bond established in your name. You can transfer your pension benefits into the ITC Buy Out Bond if you leave a company pension scheme or if your company pension scheme is shut down.
It is established by the trustees of your existing pension scheme. Its aim is to put you in control of your pension benefits. The value of your pension benefits at the date you leave your current pension scheme will be transferred into the ITC Buy Out Bond.
Who can set up an ITC Buy Out Bond?
Any employee or former employee can opt for an ITC Buy Out Bond in circumstances where:
• You are leaving or have left employment.
• You are leaving a pension scheme.
• Your company pension scheme is being wound up.
What are the benefits of the ITC Buy Out Bond?
The ITC Buy Out Bond enables you to take control of your existing pension benefits and invest them in order to make them work for you. It is not unusual for people to change employment many times during their career and an ITC Buy Out Bond provides an opportunity for you to manage your previous pension benefits and invest them in a way that suits your needs. The ITC Buy Out Bond is designed to offer flexibility, transparency, security and control.
How do you go about investing in the ITC Buy Out Bond?
- Contact us or your Financial Advisor.
- To download the Buy Out Bond brochure and application pack please visit Product Downloads
- Take a look at our FAQs for more information.