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Secure Retirement Plus (S$) at a glance:
Predictable
Guarantees you will get back all of your subscription via regular withdrawals regardless of how the market performs.
Sustainable
Starting from the Life Insured turning 65 years old, you can elect to receive Income For Life.
Potential To Grow
Your Guaranteed Withdrawal Benefit may increase via the Step-Up mechanism and the Loyalty Bonus.
Guarantees Your Retirement Income Irrespective Of Market Movements
Secure Retirement Plus (S$) can help to give you financial certainty for your retirement. By setting aside a lump sum towards the plan, you will enjoy a Guaranteed Withdrawal Benefit (GWB), which initially will equal the subscription amount. This GWB, adjusted by any withdrawal, Step-Up or Loyalty Bonus, will be available for withdrawals in your retirement.
You can receive a percentage of the GWB as your Guaranteed Withdrawal Amount (GWA) per annum. The GWA is 4% of the GWB. Secure Retirement Plus (S$) guarantees you will get back all of your subscription via regular withdrawals over 25 years regardless of how the market performs.
You will also participate in the potential return of the funds linked to this plan. Your subscription will be invested into any of the Secure Retirement Plus (SRP) Lifestyle Portfolios you select to provide an opportunity to potentially increase the account value as well as the GWB.
Guaranteed To Grow with Loyalty Bonus - Even If The Market Doesn't
Receive a Loyalty Bonus of up to 50% of your total subscription
With Secure Retirement Plus (S$), your GWB will have the opportunity to increase. If you do not make any withdrawal during the first 5 policy years, your GWB will be revised from 100% to 125% of the total subscription as Loyalty Bonus at the end of the 5th policy anniversary. From policy years 6 to 10, an extra 5% of the GWB will be added at the end of each policy year to the GWB as Loyalty Bonus if no withdrawal is made during those years.
However, if any withdrawal is made in a particular year in the first 10 policy years, the Loyalty Bonus for that year and all future Loyalty Bonus of all the years thereafter will be forfeited.
It pays to wait: A total Loyalty Bonus of up to 50% of your total subscription can significantly increase your Guaranteed Withdrawal Benefit
For illustrative purposes only. A S$100,000 subscription will provide guaranteed withdrawal of S$4,000 for 25 years. If no withdrawal is taken during the first 5 years, a 25% Loyalty Bonus will be added to the GWB at the end of year 5 and your GWA will increase to S$5,000. Thereafter, if you make no withdrawal, at the end of year 10, your GWA will increase S$6,000.
An Automatic Step-Up
To Capture Potential Increases of Guaranteed Withdrawal Benefit
The GWB can also be enhanced based on the performance of the underlying investments through the Step-Up mechanism. On every 5th policy anniversary up to age 80 of the Life Insured, your GWB will be automatically stepped up to the current account value if the market value of your portfolio has risen and is higher than your GWB at that time.
With the stepped-up GWB, your retirement withdrawals are increased and can potentially provide higher annual withdrawals.
For illustrative purposes only. This is a hypothetical example of how the Step-Up feature would work. On every 5th policy anniversary up to age 80, in the case where the account value has risen and is higher than the GWB at the time when Step-Up is applicable, a new higher GWB will be available.
Income For Life
Moreover, starting from age 65 of the Life Insured, you can elect to make withdrawals that are guaranteed for the rest of the Life Insured's life. The yearly amount available for withdrawals as Income For Life (IFL) is equal to 4% of the GWB at time of election.
Even if your account value goes to zero, you can get all your subscription back and have regular Income For Life.
Other Benefits Of Investing With Secure Retirement Plus (S$):
100% Investment Participation
Every dollar you subscribe will be fully invested.
Flexible Withdrawal Option
Lets you withdraw any amount at any time3.
Guaranteed Death Benefit
The claimant can receive the account value or the remaining withdrawal stream4.
3 Excessive withdrawals greater than GWA or IFL will be subjected to redemption charges in the first 5 years, and may affect GWA, IFL and/or death benefit in subsequent years. A minimum account value of S$10,000 is required to be maintained.
4 The claimant can select between receiving
(i) 100% of the account value without redemption charge or
(ii) Annual payments based on the GWA/IFL at time of notification of the Life Insured's death and until depletion of the GWB/IFL, any remaining account value will be payable in a lump sum.
A Lifestyle Portfolio Designed To Match Your Investment Needs
SRP Lifestyle Portfolio
The underlying funds of the SRP (S$) Portfolio Funds are denominated in US$, and they will be partially hedged from US$ to S$. The SRP (S$) Portfolio Funds will bear any gain/loss arising from the hedging strategy. For more information, please refer to the Fund Summary.
We offer a choice of up to two SRP Lifestyle Portfolios for your investment. Whether balanced or growth-oriented, these SRP Lifestyle Portfolios give you access to an asset allocation managed by experienced professionals.
Each SRP Lifestyle Portfolio is specifically designed with a blend of risk and potential reward characteristics that aims to be consistent with your investment risk appetite and financial goals. You can also elect to allocate your investment among one or both of the portfolios at any time.
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Find out more about our other Annuity Plans.
Important Notice and Disclaimers:
An investment in the Portfolio Funds is subject to investment risks and foreign exchange risks. Returns on the units of the Portfolio Funds are not guaranteed and the value of the units and the income, if any, may fall or rise. Investors should read the fund summary before deciding whether to subscribe for units in the Portfolio Funds. The fund summary is available and may be obtained from any UOB Group branch.
Buying a life assurance policy is a long-term commitment. Acceptance of proposal is subject to underwriting. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid. This document is not a contract of assurance. The terms and conditions of the above product are specified in the policy contract.
This document is for your information only and does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You may wish to seek advice from a financial adviser before making a commitment to purchase the above product. In the event that you choose not to seek advice from a financial adviser, you should consider whether this product is suitable for you.
United Overseas Bank Limited Co. Reg. No. 193500026Z
Manulife (Singapore) Pte Ltd Reg. No. 198002116D
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