checklist - newcourt retirement fund managers · 2019. 8. 21. · 6. this self invested prb is...

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ChecklistWe must verify your identity, address and Personal Public Service Number (PPSN) so please ensure you have included each of the three required categories of documentation before returning the completed application to Newcourt:

Category 1: ID Verification

One of the following (the document must be current (in date) and valid):• Passport• Driving Licence• EU National Identity Card

The document must be certified as a true copy of the original and dated by an Accountant, Solicitor, Garda or regulated entity based in Ireland. Certified copies must be clear and issue/expiry dates must be clearly visible.

Category 2: Address Verification

One of the following which must be dated within the last 6 months:• Bank statement, or credit/debit card statement, issued by a regulated firm in Ireland, the EU or comparable

jurisdiction • Utility bill for your home address (for example, Piped Gas, Electricity, Telephone (not mobile phone))• Documentation/card issued by the Revenue Commissioners showing the name and address of the person

and their PPSN• Documentation/card issued by the Department of Employment Affairs and Social Protection showing the

name and the address of the person and their PPSN• Instrument of a Court appointment (such as a liquidator, or grant of probate)• TV licence

The document must be certified as a true copy of the original and dated by an Accountant, Solicitor, Garda or regulated entity based in Ireland.

Category 3: Proof of Personal Public Service Number (PPSN)

One of the following:• Official documentation/letter from the Revenue Commissioners showing your PPSN (for example, P60,

P45, P21 statement)• Payslip from your current employer

Common issues to avoid that may cause delays:

1. ID verification that has not been signed meaning it is not valid and we can’t verify the client’s signature on the Application.

2. Proof of PPSN documents that are not on the list of accepted documents will not be accepted.3. Address verification that is not on the list of accepted documents will not be accepted. Please note

we can’t accept refuse or other household invoices, eFlow notifications, insurance documents, social protection cards and the like.

4. The same document can’t be used for two separate categories of verification.

Personal Details

Revenue Requirements

Name in Full Mr Mrs Ms Other

Address

Please notify us of future change in address

Sex Male Female Date of Birth PPS No E-mail Home Tel No Mobile No

Marital Status Spouse’s Name Spouse’s D.O.B

Date of Joining Service Date of Leaving Service Normal Retirement Age

Previous Occupation Are you a Politically Exposed Person (PEP)* Yes No

Country of Residence Country of Tax Residence

*Please see PEP Definition at http://nrfm.ie/pep-definition/

(a) Salary at date of leaving service €

(b) Other Earnings for last three years before leaving service (e.g bonuses, overtime)

€ € €

(c) (20% directors only) Total earnings for each of the last three years before leaving service

€ € €

Note: The options available when leaving a pension plan depend on the rules of the plan. Please consult your Financial Intermediary on these rules, as a Personal Retirement Bond (PRB) may not always be the best option.

This information is required for the purpose of calculating Revenue maximum limits. Failure to provide this information is in breach of the Revenue rules and could result in Revenue action regarding members benefits.Please tick the appropriate box for each of the following- if neither box is ticked, we assume the answer is ‘no’. If you answer ‘yes’ to any of the questions, please provide us with further information on each point.

(a) Is the member and/or his/her dependant(s) entitled to benefits from another pension plan?

(b) Has the member received any pension benefits, (including tax free lump sum payments or a refund of previous contributions)?

(c) Does the member and/or his/her dependant(s) hold 20% or more of the equity and/or the voting control of the company?

(d) Has the employee irrevocably surrendered his/her right to take a tax free lump sum in respect of some or all of his/her pension?

(e) Does any of the transfer relate to benefits from more than one previous pension scheme?

(f) Is there a Pensions Adjustment Order in place against any of your pension benefits? If so, please provide a copy of the Pensions Adjustment Order.

Yes No

2Newcourt Retirement Fund Managers LimitedFather Mathew Hall, 131 Church Street, Dublin 7. D07 E363

Telephone: 01 8280091 Fax: 01 8726038 Email: [email protected] Web: www.nrfm.ie

Employer Employee AVC Total

Transfer Payment Details

€ € € €

If the transfer relates to more than one employment please provide us with values for each employment in a separate attachment.

Details of Purchasing SchemeTo be completed by Trustees. This section is NOT required if you are transferring from an existing PRB.

Name of Pension Scheme

Pension Authority Reference Revenue Reference No.

Name of Employer Normal Retirement Age

Name(s) of Trustees

If the transfer is from a scheme outside the Republic of Ireland, the benefit must be approved. Please notify NRFM in advance to discuss any such transfers from outside the Republic of Ireland.

Under the current scheme arrangement does the member have the Approved Retirement Fund (ARF) option? Yes No

We declare that the information given is true and complete to the best of our knowledge and belief.We confirm that this application is to be the basis for the benefits to be provided under this PRB.

Trustee Signature

Name in Capitals Date

I authorise the Trustees of the above scheme to transfer to a NRFM Personal Retirement Bond the amount which in the opinion of the said Trustees represents the value of my benefits on withdrawal under the Plan. In consideration of the payment of such transfer value to a NRFM Personal Retirement Bond, I hereby release the Trustees of the Plan from all liability to me and my dependents in respect of all benefits under the plan with effect from the date of such transfer.

Client Signature


NB: This non insured PRB is not available as the default option for trustee wind ups. It is available if the member instructs the Trustees he/she wishes to transfer to a NRFM PRB.

SignHere

SignHere

Transfer in TypeDefined Benefit (DB) Defined Contribution (DC) Existing PRB* (DB) (DC)

Existing PRB*

If this option is selected, please also confirm if the existing PRB relates to Defined Benefit or Defined Contribution benefits.

Transfers In / Investment Split

Investment Type Investment Manager Policy No Value

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Declaration of PRB Holder

Please supply all marketing and compliance documentation in relation to your investment choice(s) to Newcourt Retirement Fund Managers Limited (NRFM). NRFM will ensure that there is sufficient liquidity in the PRB for payment of fees and any relevant taxes. As PRB holder I confirm:

1. I wish for NRFM to invest in the above mentioned product/s. I understand that this investment may be made by a PRB Referential Unitised Trust and will be subject to the provisions of the Trust Deed as amended.

2. I hereby consent to the provision of information to the Revenue if requested in relation to this investment.3. I certify that I have received independent financial advice prior to the making of this investment. I understand that

NRFM will not be involved in providing investment advice in relation to investments selected under this PRB. I understand that if there is gearing (lending) involved in an investment there may be a higher degree of risk involved in that investment. All fees in the investment have been explained to me and I am satisfied with the fees.

4. I understand the NRFM PRB does not have a cooling off period. 5. If you invest in a product through your PRB with a cooling off option (which must be exercised in writing), your fund

will be refunded, less the adjustment for any downward movement in the value from the date of the investment to investment cancellation date, along with any fees incurred.

6. This Self Invested PRB is approved as a Qualifying Recognised Overseas Pension Scheme (QROPS). In the case of a transfer from a UK scheme where there is a transfer into your PRB of funds that benefitted from UK tax relief, I confirm, as per Section 4 of the PRB Terms and Conditions that I shall not be allowed to draw benefits before my 55th birthday except on grounds of ill health and in any case subject to Revenue requirements being met. By transferring funds into this PRB I confirm that I agree to adhere to all of the contract rules under QROPS. Client Signature


I can confirm that I have been provided with the following items:• NRFM Data Privacy Notice • NRFM Client Assets Key Information Document (CAKID)• PRB Investment Agreement as set out in this proposal and the separate Terms & Conditions booklet.• NRFM MiFID Terms of Business and MiFID confirmation (incl Conflicts of Interest and Best Execution Policy)

The PRB Terms and Conditions forms part of the contract for the Personal Retirement Bond and by completing the application form you are confirming that you have read and understood the Terms and Conditions. I hereby apply to set up a PRB with NRFM. I have read and fully understand, and agree to be bound by, the attached Terms and Conditions.

I acknowledge that the monies transferred from my existing Pensions will be lodged to NRFM Client Asset Account, before being applied to my Personal Retirement Bond. While each client’s funds are noted separately, under the Client Asset Regulations of the Central Bank of Ireland, NRFM are obliged to advise me that this is a Pooled Account. The Client Asset Account is reconciled on a daily basis and is subject to the Client Asset Regulations of the Central Bank of Ireland. Once my funds have cleared in the Client Asset Account, they will automatically be transferred into my Personal Retirement Bond working bank account/ investment management account to which I am a signatory.

By signing this proposal I am confirming my understanding of the pooled nature of the Client Asset Account and that this is an instruction by me for NRFM to transfer the said funds to my PRB working bank account/investment management account. I acknowledge that once funds are transferred from NRFM’s Client Asset Account to my PRB working bank account/ investment management account, to which I am a signatory, they are no longer covered under the Client Asset Regulations of the Central Bank of Ireland.

I understand that the value of my investment may go down as well as up and that the past performance is not a reliable guide to future performance. NRFM accept no responsibility for investment losses which may occur. All investment carries risk. I declare that the information supplied in this PRB Account Opening Form is correct. I agree that if any this information should change, I will confirm such changes to NRFM in writing.

Client Signature

Name in Capitals

SignHere

SignHere

Date



Investment Administration AgreementDescription

The Self Invested Personal Retirement Bond (PRB) is a pension arrangement approved by The Revenue Commissioners being surrendered, commuted or assigned except as permitted by legislation. The PRB is a contract designed to accept a transfer payment from an Occupational Pension Scheme, including a transfer from a Small Self Administered Pension Scheme (SSAPS) and it may also accept the value of a former PRB. The Revenue preclude any alterations to the PRB without their prior approval. The PRB is subject to the rules of the original scheme and the governing legislation.

Control of Assets

NRFM will be a co-signatory on all bank accounts/investment management accounts and will be permitted to operate the bank mandate without a dual signature to collect certain items i.e. fees and/or taxes. All assets will be held in an individual referential unitised trust. Direct property holdings will be held by Retirement Asset Holdings Designated Activity Company as property trustee.

Investment Management

The Trustees responsible for the occupational pension scheme will transfer the value of your occupational pension scheme to your PRB. You will then be able to give instructions as to how the assets are invested. NRFM will act as Investment Administrator for the PRB but will not offer any investment advice regarding the underlying Investments but will reserve the right to do so.

Liability of Newcourt Retirement Fund Managers Limited

NRFM shall not be responsible for any loss or damage, whatsoever or howsoever occurring, or for any depreciation in value howsoever arising by reason of the exercise or non-exercise of the powers or discretion hereby imposed on or undertaken by NRFM or any diminution in the value of securities or any part thereof or by reason of the securities or any part thereof failing to appreciate in value or failing to produce any return on the capital invested save for any loss or damage resulting directly from NRFM fraud, wilful default or negligence.

Valuation

In the event of a claim arising on death, retirement or transfer, the value of the fund will be the cash value obtained in respect of each stock or investment.

Liquidity of Fund

We require that a minimum of 7.5% of your portfolio be held in cash and/or liquid investments.

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Data Protection Notice - Consents and AuthorisationThe ‘Data Controller’ for the purposes of the General Data Protection Regulation 2016 (“GDPR”) (“effective 25 May 2018”) is Newcourt Retirement Fund Managers Limited (NRFM). The personal data being collected on this form is for the purposes of processing your application. NRFM may not, except for the purposes of carrying out our obligations under the relevant terms and conditions of a product or service offered by us or as required or permitted by law or regulation or as required by any regulatory body or governmental authority in any country or territory, disclose any confidential information relating to you to a third party.

By signing your name below you acknowledge that in providing products or services to you we may receive personal data and sensitive personal data about you, each as defined under the General Data Protection Regulation 2016 (“GDPR”) (“effective 25 May 2018”). Data shall include, but shall not be limited to, information contained in this application (or provided subsequently in discussion or otherwise) and any information arising in relation to your terms and conditions and your business relationship with NRFM. We undertake to use all reasonable commercially justifiable efforts to maintain the security of Data you provide to us.

By signing your name below you consent to us (NRFM) and our Intermediaries, holding, using, disclosing and processing Data in the following ways:

(a) To comply with legal and regulatory obligations; (b) To comply with the relevant terms and conditions for the products and services provided to you;(c) For direct marketing purposes, to advise you of products or services of NRFM or selected third parties, unless you have indicated to the contrary in writing; (d) To contact you or your personnel by post, telephone, email, fax, SMS message or other means, unless you indicate to the contrary in writing; (e) To carry out statistical analysis and market research; (f) To disclose to any (or any proposed) assignee, disposer or successor;(g) To hold, use, disclose and process Data for any other specific purposes where you or your personnel on your behalf have given NRFM your specific consent to do so.

By signing your name below you also consent to us and our Intermediaries, sharing Data with your nominated Financial Intermediary to enable them to administer your contracts with NRFM.

I agree that NRFM may contact me in person, by phone, letter, e-mail or other electronic means to provide me with general information and regulatory updates relating to this contract at any time.

I agree that the Information may be held and used by Newcourt for Marketing purposes, including Marketing by e-mail or other electronic means. Yes No

You acknowledge that at any time you can ask us to stop or change the methods by which we may send you marketing materials. This can be done free of charge by writing to Newcourt Retirement Fund Managers Limited, Father Mathew Hall, 131 Church Street, Dublin 7. Our full privacy notice is available at: http://nrfm.ie/data-privacy-notice/ Consents and Authorisation

I consent to the holding, use and disclosure of Data concerning me in the manner set out above. I authorise the Department of Social Protection and/or the Revenue Commissioners to advise NRFM of my most recent address on their records at any future time.

Client Signature


SignHere



Newcourt Retirement Fund Managers Limited is regulated under the European Union (Markets in Financial Instruments) Regulation 2017 (“the MiFID II Regulations”) by the Central Bank of Ireland.

Contact Details

Newcourt Retirement Fund Managers LimitedFather Mathew Hall131 Church StreetDublin 7D07 E363

*Newcourt charge a minimum AMC of €750. *For certain contracts (for example, contracts that hold direct property investments), Newcourt reserves the right to vary the pricing structure.

Please also refer to Section 3 (Charges) in our terms and conditions.

I confirm that I have provided all pension and investment advice and I have provided all the required documentation to the client.

Financial Advisor details

Contract Charging Structure

Tel: 01 8280091Fax: 01 8726038Email: [email protected]

Company Name:

Financial Advisor signature:

Client signature:

Financial Advisor Name:

Date:

Date:

Address:

Telephone No:

Newcourt Consultant Name:

Initial set-up charge (if applicable): €__________ OR _____%

Additional Annual Management Charge (if applicable): _____%

Email Address:

PRB Fund Size Annual Management Charge (AMC)*Less the €500,000 0.75%

Over €500,000 0.65%

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Appropriateness Assessment of Pension Products & MiFID II Services

Client Name Mr Mrs Ms Other

In providing our MiFID services (receipt and transmission of orders) in financial instruments (shares, funds) related to our PRB product we are required to obtain information from you in order to assess whether a given product or service is appropriate for you. If you fail to provide sufficient information (or fail to provide any information) there is a strong risk that we will not be able to assess whether your have the necessary knowledge and experience to understand the risks involved in our products and services. What financial services have you used in the past year? (Please tick all that are relevant)

How frequently have you used the services in the past year, on a scale of 1 to 5 (1 is daily, 5 is rarely)? (Please tick the most relevant box)

How many transactions have you made using these services in the past year, on a scale of 1 (greatest) to 5 (least)

Banking

Current a/cCredit Union a/cPost office a/cCredit/Debit CardLoansOther, specify ______________None of the above

Life coverSavings planPension PlansBroker accountsOn line share accountsOther, specify ______________None of the above

SharesBondsFundsForeign ExchangeDerivativesOther, specify ______________None of the above

Investments Financial Instruments

1(daily)

1(more than 500 Transactions)

1more than 10 transactions

2(weekly)

2(200 to 500 transactions)

2between 5 and 10 transactions

3(monthly)

3(less than 200 transactions)

33 to 5

transactions

4(occasionally)


4less than 3

transactions

5(rarely)


5No

transactions

Banking services

Investments

Banking services

Investments

Financial Instruments

Financial Instruments



Errors and omissions excepted - 08/2019

What is the average AMOUNT IN MONEY (EUROS) of your individual transactions, on a scale of 1 (greatest) to 5 (least)

Do you have a professional qualification? Yes No

If Yes, provide Details of your qualification

What is / was your Occupation?

Data Protection / Data Privacy Notice:

1more than €10,000

2€5,000 - €10,000

3€2,000 - €5,000

4less than €1,000

5less than €100

Banking services

We are required by our regulatory obligations under MIFID II to obtain sufficient information about the appropriateness

of any regulated services we provide in connection with financial instruments you may wish to purchase and / or

hold within your pension product and retain this information on file for a period of 5 years from the transaction date.

Do you consent to the retention of this information as listed above? Yes No

InvestmentsFinancial Instruments

On the basis of the above information that you have provided to us in relation to your knowledge and experience, we consider that if the majority of your responses fall under category 5 above, we may consider that our PRB is not an appropriate product or the receipt and transmission of your instruction is not an appropriate service for you. If you still wish us to proceed on your behalf, we may still provide the product or service, but you should note that it may not be appropriate for you and that you may be exposing yourself to risks that fall outside your knowledge and experience impacting your ability to properly assess and / or control those risks by way of mitigation of their consequences to you.

Do you accept this warning? Yes No

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checklist - newcourt retirement fund managers · 2019. 8. 21. · 6. this self invested prb is...

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