Important Information

This is only a summary and general introduction to our Regular Savings Plan. You should speak to your financial adviser and read the product literature suite before making an investment decision. We can only accept business that is introduced via a financial adviser.

RL360 Regular Savings Plan - FAQs

A flexible offshore regular savings plan combining choice with quality global funds to help international investors build wealth for the future.

FAQs

Frequently Asked Questions

We have pulled together this list of frequently asked questions to help answer some of your most common queries about our Regular Savings Plan.

Changing the plan

Q Can the plan currency be changed once the plan has been issued?

A No. The plan currency must remain the same as the currency selected at application stage.

Payment methods

Q I would like to contribute to my plan by credit card. Are there any additional charges for paying by this method?

A We do not pass on any fees charged by credit card providers unless it is American Express. Where payments are made by American Express, we will collect an additional 1% of the value to help subsidise their fee.

Payment frequency

Q If I contribute to my plan on an annual basis and would like to change the frequency to monthly, can I do this?

A Yes. Once the establishment period is complete, the payment frequency can be changed, but only on the plan anniversary.

Q Can I take a payment holiday?

A Yes. You can take a payment holiday providing that you have completed the establishment period and your plan value is greater than USD7,000 (or currency equivalent). If both these conditions have been met, you can stop payments for up to 2 years. For further information, please refer to the Product Guide.

Q What are the implications if I take a payment holiday?

A Any missed payments will reduce the loyalty bonus at the end of the payment term. It is worth noting that you should only regard this option as a temporary measure as the plan charges will continue to be taken including the servicing charge which will increase. For further information, please refer to the Terms & Conditions.

Starter bonus

Q If I increase my payments, will I get another starter bonus based on the increase?

A Yes. As long as there is a minimum of 10 years left of your original payment term and the increase is in excess of USD5,040 per year (or currency equivalent).

Loyalty bonus

Q Will I still qualify for a loyalty bonus if I cancel my plan before the end of the payment term?

A Yes. As long as you cancel your plan after the 10th anniversary and within 5 years of the end of the payment term, a proportion of the loyalty bonus that would have been paid at the end of the payment term will be added to your plan. For further information, please refer to the Terms & Conditions.

Charges

Q What are the charges and how are they taken?

A The product charges are detailed as follows:

Establishment charge: 0.50% per month of the value of establishment units will be deducted during your chosen payment term. At the end of the payment term the charge will stop.
Administration charge: 0.125% per month of the plan value will be deducted proportionally from both establishment and standard units for the lifetime of your plan.
Servicing charge: USD7.00 per month (or currency equivalent) deducted from standard units for the lifetime of your plan. The charge increases by a multiple of 3 during periods where payments are not being made during the payment term.

Funds

Q How many funds are available?

A We offer direct access to 350+ funds. For further details please refer to the Fund Guide.

Q Can I hold assets such as stocks, shares, cash deposits and structured products within my plan?

A No. You can only access the funds from the Regular Savings Plan fund range. You can find out more about the full range of funds by visiting the Fund Centre.

Q How many funds can I invest in?

A If you have enabled the online fund switching facility, you will be able to invest in any number of funds subject to the minimum investment levels. If you haven't, then you will be limited to a maximum of 10 funds at any time.

Q What charges are applied to the underlying funds that I invest in?

A The fund range provides access to direct funds without any initial charges or bid/offer spreads. Annual management charges will be applied by the external fund managers. Some fund managers may also include a performance fee.

Q Are there any charges for buying and selling funds?

A No. You can buy, sell and switch between funds free of charge at any time.

Q Who is responsible for my choice of funds?

A You or the company you nominate to act on your behalf. RL360 does not provide investment advice and will not provide you with guidance as to which funds are suitable for you. For further information, please refer to the Product Guide.

Valuations

Q Why does my valuation show negative standard units?

A At the start of your plan an establishment period will apply. During this time each regular payment made will be used to purchase establishment units. The servicing charge is not deducted from the establishment units, it’s deducted from standard units. There are no standard units purchased during the establishment period however, the charge is still deducted; which in turn creates negative units in your plan. Once the establishment period is complete, your regular payments will only purchase standard units that will in turn clear the negative unit position.