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international premier portfolio technical guide

Taking cash from the bond

You can take money from the bond either by regular withdrawals or by cashing in all or part of the bond.

Regular withdrawals

  • You may, at any time, choose to receive a regular withdrawal from the bond to give you payments every:

    • month

    • two months

    • three months

    • four months

    • six months

    • year.

  • This can be arranged at the start of the bond or at a future date.

  • Regular withdrawals will be paid in your bond currency.

  • Regular withdrawals will be paid from the cash account. Please allow 10 working days for the payment to reach your bank account.

  • The minimum amount for each regular withdrawal is £200/300/$300.

  • If you choose to make regular withdrawals at the start of your bond, the maximum you can withdraw is 10% each year of your initial investment. If you choose to make regular withdrawals after the start of the bond, the maximum you can withdraw is 10% per year of the last valuation of the bond.

  • We reserve the right to stop regular withdrawals if the bond value falls to 20% or less of the total amount you invested.

  • All withdrawals will be made on the 20th of the month.

  • If you want to start taking regular withdrawals after the start of the bond, please complete the Cash Request or Regular Withdrawal form which you can find on our website www.aviva.co.uk/international.

  • For UK residents, if the amount of the regular withdrawals are more than the 5% tax deferred allowance there may be tax implications.

Cashing in part of the bond

  • You may, at any time, ask us to cash in part of your bond to give you a cash sum.

  • You may do this by cashing in a number of the identical policies that make up the bond. If you choose to do this you may, depending upon the charging structure you have chosen for the bond, incur an early cash in charge. At least 20% of the total of the initial investment and any extra investments must remain in the bond.

  • Alternatively you may choose to cash in part of each of the identical policies that make up the bond. There is no charge for withdrawals across policies. You must leave at least 20% of your initial investment (plus any extra investment you’ve made since) if you are taking a withdrawal during the early exit period. Remember that if you make a large withdrawal across policies there may be a tax implication.

  • For UK residents, if you make a withdrawal across individual policies greater than the 5% tax deferred allowance, you should be aware that there may be income tax implications.

  • If your request to cash in means that your bond will be worth less than these limits, we’ll ask you to either cash in all of the bond or cash in whole policies.

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