function illustrationpopup(field) { my_window = window.open("","","status=1,width=500,height=650,scrollbars=yes"); var headertxt = '' + '' + '' + '' + '' + '' + '' + '
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'; my_window.document.write(headertxt); if (field=='retirementdate') { var txt = '

policy‘s stated retirement date

' + '

The original date, selected by you at the start of the policy, which indicates your expected retirement date. You are able to change your retirement age but this is dependent on the conditions of your policy and may affect your guaranteed pension rate entitlement.

'; } if (field=='policynumber') { var txt = '

policy number

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The unique reference number for your Phoenix with-profits pension policy. You should always quote this number in any communications with us.

'; } if (field=='protectedrights') { var txt = '

protected rights

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If this sentence is on your personal illustration then this policy or part of your policy has been used to contract-out of the ‘State Second Pension’ (which used to be called the State Earnings Related Pension Scheme or ‘SERPS‘). Policyholders get a rebate of part of their National Insurance contributions for every year they are contracted-out. This is paid into their personal pension. The funds that are built up from these rebates are known as ‘Protected Rights‘.

'+ '

This policy or part of your policy has ‘Protected Rights’. If you are married or in a civil partnership when you retire, it is currently a legal requirement that 50% of the pension you buy with your retirement fund continues to be paid to your spouse or civil partner after your death.

'+ '

Please see question 46 in the ‘Questions answered’ booklet for more details.

'; } if (field=='currentfundvaluebefore') { var txt = '

current fund value - before

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This is the amount of money you could have transferred to another pension policy or scheme on the 31 December 2008 - or which you could have retired on if you are over 50 and your policy allows. From 6 April 2010, the law will change and the earliest you will normally be able to retire will be age 55.

'; } if (field=='currentfundvalueafter') { var txt = '

current fund value - after

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This shows the increase to your current fund value if our proposed change goes ahead. The increase comes from the money freed-up by no longer having to provide a guaranteed pension rate. This is the amount of money you would be able to transfer to another pension policy or which you could retire on if you are over 50 and your policy allows following the implementation of the scheme (based on 31/12/08 figures). From 6 April 2010, the law will change and the earliest you will normally be able to retire will be age 55.

'; } if (field=='projectedvaluesretirementfund') { var txt = '

projected values

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There are 4 projected values for your retirement fund. These figures are only examples and are not guaranteed, except where stated. Your retirement fund could be more or less than this.

' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '

Guaranteed minimum	this is the minimum value of your retirement fund at your stated retirement date. This is based on your guaranteed basic sum plus any annual bonuses added. This value would remain if our proposed change goes ahead.

Low	there is a 10% chance that the actual outcome will be lower than this.

Mid	there is an equal chance of the actual outcome being higher or lower than this.

High	there is a 10% chance that the actual outcome will be higher than this.

'; } if (field=='retirementfundbefore') { var txt = '

retirement fund - before

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These are the current projected values of your retirement fund at your stated retirement date. They are based on investment outcomes and expectations at that date. The projected values assume that if you are paying regular premiums, you will continue to pay them at their present level until your stated retirement date. These figures are only examples and are not guaranteed; except where specified. Your retirement fund could be more or less than this.

' + '

There are 4 projected values for your retirement fund.

' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '

Guaranteed minimum	this is the minimum value of your retirement fund at your stated retirement date. This is based on your guaranteed basic sum plus any annual bonuses added. This benefit would remain if our proposed change goes ahead.

Low	there is a 10% chance that the actual outcome will be lower than this.

Mid	there is an equal chance of the actual outcome being higher or lower than this.

High	there is a 10% chance that the actual outcome will be higher than this.

'; } if (field=='retirementfundafter') { var txt = '

retirement fund - after

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These are the projected values of your retirement fund at your stated retirement date AFTER the change. It allows for any increase resulting from the freed-up monies and reflects the different investment strategy. The projected values assume that if you are paying regular premiums, you will continue to pay them at their present level until your stated retirement date. These figures are only examples and are not guaranteed, except where specified. Your retirement fund could be more or less than this.

' + '

There are 4 projected values for your retirement fund.

' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '

Guaranteed minimum	this is the minimum value of your retirement fund at your stated retirement date. This is based on your guaranteed basic sum plus any annual bonuses added. This benefit would remain if our proposed change goes ahead.

Low	there is a 10% chance that the actual outcome will be lower than this.

Mid	there is an equal chance of the actual outcome being higher or lower than this.

High	there is a 10% chance that the actual outcome will be higher than this.

'; } if (field=='projectedvaluestaxfreecash') { var txt = '

projected values

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There are 4 projected values of your tax-free cash. These figures are only examples and are not guaranteed, except where stated. Your tax-free cash could be more or less than this.

' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '

Guaranteed minimum	this is the guaranteed amount of tax-free cash you can take at your stated retirement date. This value is 25% of your guaranteed minimum retirement fund. This value would remain if our proposed change goes ahead.

Low	there is a 10% chance that your actual tax-free cash will be lower than this.

Mid	there is an equal chance of your actual tax-free cash being higher or lower than this.

High	there is a 10% chance that your actual tax-free cash will be higher than this.

'; } if (field=='taxfreecashbefore') { var txt = '

tax-free cash - before

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Under current tax rules, when you retire you normally have the option to take up to 25% of your retirement fund value as a tax-free cash lump sum. This is calculated as 25% of the retirement fund value before the change. The remainder of your retirement fund, after you have taken any tax-free cash, is then used to by an annual pension income.

' + '

There are 4 projected values of your tax-free cash.

' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '

Guaranteed minimum	this is the guaranteed amount of tax-free cash you can take at your stated retirement date. This has been calculated as 25% of your guaranteed minimum retirement fund. This benefit would remain if our proposed change goes ahead.

Low	there is a 10% chance that the actual outcome will be lower than this.

Mid	there is an equal chance of the actual outcome being higher or lower than this.

High	there is a 10% chance that the actual outcome will be higher than this.

'; } if (field=='taxfreecashafter') { var txt = '

tax-free cash - after

' + '

Under current tax rules, when you retire normally you have the option to take up to 25% of your retirement fund value as a tax-free cash lump sum. This is calculated as 25% of your retirement fund AFTER the change. The remainder of your retirement fund, after you have taken any tax-free cash, is then used to buy an annual pension income.

' + '

There are 4 projected values of your tax-free cash.

' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '' + '

Guaranteed minimum	this is the guaranteed amount of tax-free cash you can take at your stated retirement date. This has been calculated as 25% of your guaranteed minimum retirement fund. This benefit would remain if our proposed change goes ahead.

Low	there is a 10% chance that the actual outcome will be lower than this.

Mid	there is an equal chance of the actual outcome being higher or lower than this.

High	there is a 10% chance that the actual outcome will be higher than this.

'; } if (field=='projectedvaluespensionincome') { var txt = '

projected values

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There are 4 projected values for your annual pension income. These figures are only examples and are not guaranteed, except where stated. Your annual pension income could be more or less than this.

' + '' + '' + '' + ''+ '' + ''+ '' + ''+ '' + '' + '

EITHER

Guaranteed minimum
this is the minimum amount of your pension income at the retirement date stated in your policy. This value would no longer exist if our idea went ahead. It only applies to policies or parts of policies which are NOT contracted-out of the ‘State Second Pension’.

OR

Illustrative minimum
this is the estimated minimum amount of your pension income at the retirement date stated in your policy. This policy or part of your policy is contracted-out. Not all of your annual pension income is therefore purchased at guaranteed rates. Please see more information about contracted-out policies in the ‘Important notes‘ on the reverse of your personal illustration. This value would no longer exist if our idea went ahead.

'+ '
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Your personal illustration will show either ‘Guaranteed minimum‘ or an ‘illustrative minimum‘ based on which type of the policy or part of policy you have.

'+ '

No ‘Guaranteed minimum‘ or ‘Illustrative minimum‘ is shown for any part of your policy where the guaranteed pension rate does not apply.

'+ '
'+ '' + '' + '' + ''+ '' + '' + '' + '' + '' + ''+ '' + '' + '' + '' + '' + ''+ '' + '' + '

Low		there is a 10% chance that your actual pension income will be lower than this.

Mid		there is an equal chance of your actual pension income being higher or lower than this.

High		there is a 10% chance that your actual pension income will be higher than this.

'; } if (field=='pensionincomebefore') { var txt = '

pension income - before

' + '

These are the projected annual pension incomes you might receive when your BEFORE change retirement funds (less any BEFORE change tax-free cash you may take) is used to buy a pension income or ‘annuity‘ from us, or another insurance company. All the BEFORE change pension incomes assume that you buy a pension income using the guaranteed pension rate.

' + '

There are 4 projected values for your pension income in your personal illustration.

' + '' + '' + '' + ''+ '' + ''+ '' + ''+ '' + '' + '

EITHER

Guaranteed minimum
this is the minimum amount of your pension income at your stated retirement date. This value would no longer exist if our proposed change goes ahead. It only applies to policies or parts of policies which are not contracted out of the ‘State Second Pension’.

OR

Illustrative minimum
this is the estimated minimum amount of your pension income at your stated retirement date. This policy or part of your policy is contracted-out. Not all of your annual pension income is therefore purchased at guaranteed rates. Please see more information about contracted-out policies in the ‘Important notes‘ on the reverse of your personal illustration.

' + '
' + '

Your personal illustration will show either ‘Guaranteed minimum‘ or an ‘Illustrative minimum‘ based on which type of the policy or part of policy you have.

'+ '

No ‘Guaranteed minimum‘ or ‘Illustrative minimum‘ is shown for any part of your policy where the guaranteed pension rate does not apply.

'+ '
'+ '' + '' + '' + ''+ '' + '' + '' + '' + '' + ''+ '' + '' + '' + '' + '' + ''+ '' + '' + '

Low		there is a 10% chance that your actual pension income will be lower than this.

Mid		there is an equal chance of your actual pension income being higher or lower than this.

High		there is a 10% chance that your actual pension income will be higher than this.

'; } if (field=='pensionincomeafter') { var txt = '

pension income - after

' + '

These are the projected annual pension incomes you might receive when your AFTER retirement funds (less any AFTER tax-free cash you may take) is used to buy a pension income or ‘annuity’ from us, or another insurance company. These are based on you buying your pension income at standard pension rates.

' + '

There are 4 projected values for your pension income.

' + '
'+ '' + '' + '' + ''+ '' + '' + '' + '' + '' + ''+ '' + '' + '' + '' + '' + ''+ '' + '' + '' + '' + '' + ''+ '' + '' + '

Guaranteed minimum		this is the minimum value of your pension income at your stated retirement date. This benefit would no longer exist if our proposed change goes ahead.

Low		there is a 10% chance that the actual outcome will be lower than this.

Mid		there is an equal chance of the actual outcome being higher or lower than this.

High		there is a 10% chance that the actual outcome will be higher than this.

'; } if (field=='alternativepensionincome') { var txt = '

alternative pension income

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We have included this illustration to show the effect on your annual pension income of reducing the amount of tax-free cash you choose to take AFTER our proposed change to the same level as the maximum amount which could have been possible BEFORE the changes.

' + '

This makes the BEFORE and AFTER change retirement benefits more easily comparable because the whole effect of our changes are applied to your annual pension income. At retirement you would of course still be free to choose the level of tax-free cash (up to the maximum limit) that suits your needs.

'; } if (field=='contractedout') { var txt = '

Policies contracted-out of the ‘State Second Pension’

' + '

If these paragraphs are on your personal illustration then this policy or part of your policy is or has been used to contract-out of the ‘State Second Pension’ (which used to be called the State Earnings Related Pension Scheme or ‘SERPS‘). Policyholders get a rebate of part of their National Insurance contributions for every year they are contracted-out. This is paid into their personal pension. The funds that are built up from these rebates are known as ‘Protected Rights‘.

'+ '

This policy or part of your policy has ‘Protected Rights’. If you are married or in a civil partnership when you retire, it is currently a legal requirement that 50% of the pension you buy with your retirement fund continues to be paid to your spouse or civil partner after your death.

'+ '

Please see question 46 in the ‘Questions answered’ booklet for more details.

'; } my_window.document.write(txt); var footertxt = '

' + '' + ''; my_window.document.write(footertxt); }