Just Retirement unveils gender timelines
From December 8th Just Retirement will be able to offer quotes on either a gender neutral or gender specific basis.
By default, quotes will be on a gender neutral basis. Gender specific rates will continue to be available on request for advisers who can submit applications by December 20th, which is the last day that applications for gender specific rates will be considered. Quotes on a gender specific basis issued from 8th December will have the standard 45 day rate guarantee from the day the quote was issued, provided we receive the application by 20th December and there are no changes to the benefit structure or medical information.
The Test Achats ECJ ruling takes effect from December 21st when the current gender opt out ceases to be valid.
Applications received on or after this day will be processed on gender neutral rates.
Ahead of the RDR implementation, Just Retirement will make adviser charging available from 10th December. Adviser applications with a declaration signed by no later than December 30th can continue to be processed on a commission basis, provided they are received by January 31st.
The RDR rules come into force on December 31st 2012 and all applications with a declaration signed on or after this date will be subject to adviser charging.
Commission-based non-advised sales will not be affected by the implementation of RDR.
Stephen Lowe, group external affairs and customer insight director at Just Retirement, said: “These are big changes so we are making the deadlines clear in advance to prevent anyone being caught out at the last minute.
“The dates give advisers the flexibility to help their clients receive higher incomes by getting them on to gender specific rates while ensuring full compliance with the new rules. It promises to be a busy end to the year but we are confident the changeover will run smoothly.”