Phoenix Ireland

 

                        
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2011 News

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Here you will find recent communications and mailings to our customers and intermediaries.

 

News 2011
 


Our aim is to provide clear, transparent information for our customers about Phoenix Ireland.

Click on the links below to download literature items in PDF format. If you are unable to access any of the PDF's linked below, please contact us.

You will require a copy of Adobe Acrobat reader in order to view these files click here to download a copy.

 
News
 

2011

 
Introduction of the 0.6% pension fund levy on Irish business: Update

In May 2011 the Irish Finance (No2) Act 2011 introduced a new, temporary levy on pension funds established in Ireland. The levy takes the form of a 0.6% tax on the value of pension funds. The levy was applied on the value of the funds at 30 June 2011 and will be applied on the same date in each of the following three years, 2012, 2013 and 2014.

Consideration has been given to the implications of this legislation on our customers and details of the impact are shown below:

Policies invested in Unit Linked Funds
We applied the first levy to our unit linked pension funds on 1 July 2011. The effect of applying the first levy is that, from 1 July 2011 onwards, fund prices are reduced by 0.6% compared to the prices that would have been published had the levy not existed. This overrides guarantees on cash funds where the bid price would otherwise be guaranteed not to fall.

Policies invested in With-Profits Funds (Traditional and Unitised)
We will make allowance for the levy when we calculate bonus rates and surrender values for the affected with-profits policies, and these will be generally be lower as a result.

You do not need to take any action as we will pay this levy directly to the Revenue Commissioners.

Release: December 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 01/12/2011 Read More
Release: December 2011
 

Proposed transfer of all NPI Limited and certain National Provident Life Limited policies to Phoenix Life Limited

Release: November 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 01/11/2011 Read More
Release: November 2011
 
ECJ Ruling

You may have heard in the news that the European Court of Justice (ECJ) is to ban the use of gender in insurance policies from the 21st of December 2012. This means that from that date Insurance Companies will no longer be able to offer different rates for males and females.

Phoenix will be studying the judgement in detail in order to understand how the decision affects our 6 million customers. While we will be compliant with the court's decision by 21st December 2012, we are not yet in a position to communicate the practical implications but will of course do so when these are known.

As always we would encourage Customers to seek independent financial advice when making decisions regarding their financial products.

 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 03/10/2011 Read More
Release: October 2011
 
Introduction of the 0.6% pension fund levy on Irish business

The Irish Finance (No2) Bill was published on 19 May.

A levy has been introduced in the Bill as a temporary measure for four years and imposes an annual charge to stamp duty of 0.6% on the market value of assets under the management of approved Republic of Ireland (ROI) pension schemes.

We are currently considering the implications of this proposed legislation and further information will be available shortly.

Release: June 2011
 
Bonus Mailing
Sample copies of letters for Bonus Mailing - June 2011 - click on links below to view
Copy of Intermediary Letter
Copy of traditional with-profit Life (no early  maturity  option)
Copy of traditional with-profit Life (with early maturity option)
Copy of traditional with-profit Mortgage (with early maturity option)
Copy of traditional with profit personal pension
Copy of traditional with-profit executive pension
Copy of PLL unitised with-profit Life & Pension
Copy of SMID unitised with-profit Life & Pension
Release: 13th June 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 01/09/2011 Read More
Release: September 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 02/08/2011 Read More
Release: August 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 01/07/2011 Read More
Release: July 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 01/06/2011 Read More
Release: June 2011
 
Investment report for Unit Linked and With-Profits pension funds.
Click here to Read More
Release: April 2011
 
Data tape Mailing Q & A's
Click here to Read More
Release: April 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 01/04/2011 Read More
Release: April 2011
 
A Guide to our Unit Pricing
Phoenix Ireland Guide to Unit Linked Pricing March 2011 Read More
Release: March, 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 01/03/2011 Read More
Release: March 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 01/02/2011 Read More
Release: February 2011
 
Bonus / MVR Rates
Final Bonus / MVR Rates applicable from 01/01/2011 Read More
Sample Intermediary Letter Read More
Release: January 2011



 


Phoenix Life Limited, trading as Phoenix Ireland, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom and is regulated by the Central Bank of Ireland for conduct of business rules.