Frequently Asked Questions

Retirement can be a stressful, and difficult time - but it doesn't need to be! Here we answer your questions on tax, annuities, lifetime mortgages, care funding, and much more.

How to use our Frequently Asked Questions

If you are an existing customer of Just Retirement, please select 'Just Retirement' in the first drop-down. Likewise, if you are an existing customer of  Partnership, please select 'Partnership'.

Then select the area of interest you are looking for with our second drop-down box to filter the topics available, or scroll to see all of the relevant FAQs.

Have a question that we haven't covered here? Please don't hesitate to get in touch using our Contact Us form.

All about tax

You will need to contact HMRC directly if you believe that you have been given the wrong tax code. HMRC will only discuss your tax circumstances with you personally. To review your tax code they will need to have the information regarding all of your income, not just the income provided by Just Retirement and/or Partnership.  

For more information from HMRC and details on what to do if you think your tax code is wrong, visit this page of the HMRC website.

Alternatively, HMRC can be contacted at:

Pay As You Earn
HM Revenue & Customs
United Kingdom

*You do not need to include a street name or PO box.

Telephone: 0300 200 3300 (8am to 8pm Monday to Friday & 8am to 4pm on Saturday)

This will depend on your individual circumstances. Tax will initially be deducted at the emergency rate from all annuities unless a P45 form was provided when you applied.

When your policy starts, Just Retirement and Partnership will provide HMRC with the details of the income that you will receive from your annuity. HMRC will then assess this income along with your personal financial circumstances (such as personal allowances, other pensions, income or benefits). They will then issue Just Retirement and Partnership with the relevant tax code. The tax code is then applied to the next annuity payment, which is adjusted accordingly.

If you're looking for a quick insight into what you might expect, our Pension Taxation Calculator could be for you. Designed for illustration purposes only, this tool will help estimate how much tax you are likely to pay on the money that you withdraw from your pension fund – as well as any additional tax that you may have to pay on any earned income over the year.

If you think that you have paid too much tax you may be due a refund. To check if you are correct, and to organise a refund, you must contact HMRC directly. HMRC will then calculate how much tax you should have paid based on all your income and/or benefits and, if applicable, organise a refund of any overpaid tax.

In order for Just to make any refund that may be due to you, we must receive a new tax code directly from HMRC. 

If you have paid too little tax, you should contact HMRC to give them all of the relevant information. Normally, HMRC issues a new tax code to one or a number of your income providers who will adjust how much tax is paid.

Just do not calculate your tax code, we will only apply the tax code provided directly from HMRC. Just recommend that you check with your local tax office if you think your tax code is incorrect. If you have the wrong tax code you could end up paying too much or too little tax.

HMRC can be contacted at:

Pay As You Earn
HM Revenue & Customs
United Kingdom

You do not need to include a street name, city name or PO box when writing to this address. 

Telephone: 0300 200 3300 (8am to 8pm Monday to Friday & 8am to 4pm on Saturday)

If you do not reside in the UK it is possible that you will be liable for UK tax on your UK pension income. This income may also be subject to tax in the country in which you live. 

Unless you live in a country which has a specific agreement with the UK you could be taxed twice. For more information from HMRC on Double Taxation Agreements, visit this page of the HMRC website

If you are in doubt on how your pension will be taxed you should seek local, independent advice or contact HMRC’s 'Centre for Non Residents' to discuss this matter at the following address:

HM Revenue & Customs – Personal Tax International
Operations S0733
PO Box 203
L69 9AP


Telephone: +44 135 535 9022 

Annuity Customers

Should you wish to add or change your nominated beneficiary we must receive the request in writing giving the beneficiaries full name and address details. The letter must be signed and dated by you as the principal annuitant. 

If you have other pensions that you would like to convert into an income we would recommend you speak to your financial adviser.

If you don't have a financial adviser then could help you find one. This is a website you can use to find professional financial advice from a qualified adviser local to you.

We recommend you select a financial adviser who specialises in retirement.  

If you need to make any changes to the personal details that we hold on your policy, such as address, bank details or name, you can contact us in writing at:

Partnership, PO BOX 208, Darlington, DL1 9HG or by phone on 03451 202 837*.

Option 1 Changes to personal details including Address or Bank Details
Option 2 Bereavement
Option 3 Tax related calls
Option 4 Payment related queries
Option 5 All other queries 

For your security we will go through a number of security checks to protect your details. Please include the details you wish to change along with the new details. Please also quote your policy number in all correspondence or have it to hand if you phone us. The only thing we can’t change over the phone is your name as we would require sight of the official documentation to support it before updating your policy details.

*Telephone calls may be recorded for training and monitoring purposes. Local call rates apply.

You can choose monthly, quarterly, half-yearly or annual income. 

Acronym aside, this is an Instant Savings Account (ISA) provided by Investment Funds Direct Limited (IFDL). This particular ISA can be used as a home for some of your pension tax-free cash, if you do not need it at this time.

Please note the IFDL ISA is only available to existing ERA customers.

If you are due an immediate advance payment, which will be paid within 7-10 days this will not generate a payslip. A payslip will be generated on payment of your first full instalment and if your gross annuity payment differs by more than £1 thereafter. 

Care funding plans

There are no restrictions on the range of health conditions which make you eligible for a Partnership Care Plan. Each person is individually underwritten to determine their personal circumstances at the time you apply.

No. They can only see your Will if you give them permission to and cannot change anything in it without your permission.

You can cancel or amend a Lasting Power of Attorney at any time before it is registered. Once registered, you must give notice to the Office of the Public Guardian. You cannot cancel a Lasting Power of Attorney once you lose mental capacity, although a third party can complain to the Court if concerned your affairs are not being dealt with properly.

You can stipulate various restrictions or conditions in the Lasting Power of Attorney document. You can also appoint different attorneys for your Personal Health and Welfare Lasting Power of Attorney and your Property and Financial Affairs Lasting Power of Attorney.

This process relates to England and Wales. The process is different for Scotland and Northern Ireland.

Absolutely. Your attorneys would only take control if you lose mental capacity – and you can include a restriction to this effect in the Lasting Power of Attorney document. Conversely you can stipulate that your attorneys can act on your behalf while you are still mentally sound, if you wish.

Yes – income can be used to fund home-based, residential or nursing care.

Putting property in trust for future generations is a complex issue because the HMRC is keen to prevent people trying to avoid inheritance tax, so legal advice is essential. In addition as part of any means test, your local authority can ask about your property ownership going back a number of years. If the local authority deems the property was placed in trust deliberately to take it out of the Care funding means test, they may still take its value into account in their calculations.

Plus, the means test upper threshold is low (currently £23,250 for England and Northern Ireland, £24,000 for Wales and £26,250 for Scotland) so other assets could disqualify you from local authority support in any case.

Before going into care, a means tested benefit assessment should be carried out by your local authority to identify any benefits that you should be receiving and any shortfall that may exist. If you purchase a Care Plan, the assessment will take into account the income that is being paid, and this make affect your eligibility for support.

Before you purchase a Care Plan, you will need to receive financial advice to make sure it is the right answer for you. You (or a Power of Attorney if you have one) should therefore speak to your own financial adviser in the first instance.

If you do not have an adviser or they are not qualified to give Care advice, you can find an adviser in your area on the UK 'Find an Adviser' directory at

Our Care Plans are tailored to each individual. Therefore, the cost will depend on your personal circumstances, such as your health, and how much you need to cover care fees once any pensions, benefits and other income have been taken into account.

This is a one-off lump sum investment, in exchange for which you receive an income for life, which can be used to help meet the cost of your care, regardless of how long that care is required.

A Living Will is a legally-binding document that enables you to specify when life-sustaining medical treatment should be withheld. A Living Will usually takes priority over a Lasting Power of Attorney so it’s important to discuss your wishes with your appointed attorneys.

If the investments are in your name, they will continue to be taxed at your rate of income tax. It may be possible to set up a trust, naming your father as beneficiary of income but this may mean losing your rights to the assets. Trusts can be complex so it’s advisable to talk to a solicitor or suitably qualified financial adviser. Also, be aware that any income or capital you pay over to your father may then be included in the means test for care funding.

A standard feature of our Care Plan is that, if you die during the first six months of taking one out, a percentage of the investment you paid will be returned to your estate / beneficiaries. That percentage depends on how far into the six month period death occurs and any income paid out will be deducted from the original lump sum before the balance is returned.

Under the Immediate Care Plan, you can also choose to purchase 'Capital Protection', which enables you to protect a specified percentage of the amount you paid when purchasing the product. For more information see our page on Capital Protection under 'Paying Care Fees'.

Please contact us on:

03451 202 837*

Option 1 Bereavement

Option 2 Payment and Tax related calls

Option 3 Changes to personal details

Option 4 All other queries

*Telephone calls may be recorded for training and monitoring purposes. Local call rates apply.

Although we can provide you with a pre-agreed and predictable income for life, we cannot guarantee that the level of that income will meet the full cost of your care fees, even if, at outset, that is the case.

You can choose for the income payable from your Care Plan to increase each year, but if your care fees increase by more than the income payable from your Care Plan, you will need to make up the shortfall from other sources.

However, some care homes are prepared to cap the amount that their care fees will increase by, if a customer buys a Care Plan. This is because a Care Plan also provides them with a regular and secure source of income for as long as care is required.

A medical examination is not required for the Immediate and Deferred Care Plans. We will contact your doctor for a General Practitioner's Report and your Care Provider for more information about your care needs at the time you apply.

Yes – the local authority has a duty to assess her care needs and ensure she has access to suitable care, even if she has to pay for it herself.

Their assets put them well above the threshold of £23,250 per person (certainly in England and Northern Ireland - the threshold differs in Scotland and Wales) at which level care is self-funded.

However, if they need help with basic daily tasks such as bathing and dressing they may be able to claim for the Attendance Allowance, worth up to £82.30 a week (as at 2016). If they require nursing, the NHS will pay for Funded Nursing Care (FNC). It’s important to discuss with care homes how the FNC is accounted for in their fees.

The property will be disregarded from the care funding means test when the first of you goes into residential care. If the second of you then also needs to go into residential care, the value of the property could then be included in the means test. If the property then needs to be sold to help with the cost of fees, the Local Authority may help with funding until the property is sold. Should you both need to go into care at the same time, a proportion of the property's value (equal to your share of the property) will be allocated to each of you for the means test.

The local authority must disregard the property from the cost of care for the first 12 weeks. If the property is still not sold after this time, the authorities will still continue to pay costs but will look to recover these against the proceeds from the property when it is finally sold.

Check to see if your father is entitled to claim Attendance Allowance, to help with the cost of care.

No. So long as your mother continues to live in it, the property won’t be included in the means test for care funding. However, half of their joint savings will be. With £15,000 in assets, your father is above the lower capital limit of £14,250* (for England and Northern Ireland) and will be expected to make a contribution towards the cost of his care, the contribution is £1 a week for every £250 in assets over £14,250. There may also be a contribution required from any income he is receiving.

*Please note that different limits apply for Wales and Scotland.

You can ask that your mother is re-assessed by the NHS. If she is in need of 24-hour nursing, the NHS should pay for all of this as ‘continuing care’.

If the capital is simply held in his bank account then it can be included in his estate for inheritance tax purposes on death. If the capital is used to purchase a Care Plan, then it may be ‘lifted’ out of his estate. If inheritance tax is a major concern for the family, speak to an accountant or Financial Adviser who specialises in estate planning.

The main benefit an Immediate Care Plan offers your care provider is that the regular and predictable income for life reduces the risk that you will run out of funds and therefore be unable to meet the costs of their care provision at a later date.

The fact that you will have received specialist financial advice in the process of making the decision to buy a Care Plan also means they can be reassured you have considered all the options around funding your care and made decisions that are right for your financial situation.

If you have appointed your attorneys to act 'together', the Lasting Power of Attorney will lose validity if one of them dies, becomes bankrupt or incapacitated. The solution is to nominate substitutes or request that attorneys can act ‘together and independently'.

If you need to move care provider for any reason after the start of your Care Plan, we can transfer the direct payments to a new registered care provider simply by you or, if applicable, your Power of Attorney informing us of the change. Please write to: Partnership Annuity Servicing Centre, Mowden Hall, Staindrop Road, Darlington, DL3 9AX, or email:, and provide the name, address and bank details of the new care provider as well as the date the move applies.

In the event that your care fees rise as a result of the change to your care provider, and our Care Plan does not meet the increase in costs, you will be responsible for making up the difference.

If care is no longer required, the income will continue to be paid, but will be paid directly to you rather than your chosen care provider. However, in making that change, the income would lose its tax-free status. If you decide to do this, but then find you require more care at a later date, you will be able to transfer payments over to your new chosen registered care provider and the tax-free status would be reinstated.

Note: tax is subject to change and depends on individual circumstances.

Partnership Care Plans are designed to help insure those needing care against the possibility that they will need to pay care fees for longer than expected, or longer than their existing savings can support.

In exchange for an upfront, one-off lump sum investment, the Plans offer a pre-agreed, predictable income for life. Individuals can therefore more effectively manage their finances to support their care fees with the reassurance that the agreed income will continue to be paid for the rest of their life.

An Immediate Care Plan is suitable for people who are either already receiving care or are about to go into residential care and need the income to start straight away.

A Deferred Care Plan is for those who have the ability to fund their fees in the short to medium term but want the reassurance that, should care fees need to be paid beyond the selected period (1 year - 5 years), an income will start to be paid and continue for the rest of their life.

It is advisable to provide anyone who might have to act under the Lasting Power of Attorney with a solicitor’s certified copy of the Lasting Power of Attorney document. This could include your bank and your GP.

These plans are taken out by people who need care and want to avoid running out of funds to pay costs of their cost either now (Immediate) or at some point in the future (Deferred).

Partnership Care Plans provide reassurance, for both the person needing care and their family/friends, as a known, regular income will be paid for the rest of their life, which can be used to contribute towards the cost of care.

General enquiries

Just Retirement and Partnership aim to consistently offer the highest standards of quality in the way we provide financial products and services. This is important because it helps customers know exactly what they are buying and what they can expect from us.  

When occasionally things go wrong we welcome the opportunity to put things right and therefore treat all complaints seriously. Our complaints standards are designed to treat all customers fairly and provide a full response to complaints made about any aspect of our service. Whether your comments are connected to the level of service provided by Just Retirement and Partnership, or any aspect of your experience with us, then we want to hear about it.

The first step is for us to understand the problem. You can share your concerns with our staff either in person, by telephone, e-mail, or letter as follows:

Telephone: 01737 233297
Or write to: The Quality Assurance Team at Vale House, Roebuck Close, Bancroft Road, Reigate, Surrey, RH2 7RU.

How we will respond 

We promise to listen and do everything we can to resolve your concerns and to make sure you’re happy with the outcome of our investigation. We will do our best to resolve your concerns as soon as possible with the minimum inconvenience to you. Our first step will be to understand what the issues are and find out what we can do to put the matter right. If we are able to do this within three working days, we will send you a letter summarising your concerns (Summary Resolution Communication) and the actions taken.

What you can expect from us

If we are unable to resolve your concerns within three working days, we will send you a letter within five working days in acknowledgement and give you details of the person who is handling your investigation and how to contact them.

We aim to resolve your concerns within four weeks of receiving your complaint, and will issue you with either a final response, or, if we are unable to do so, we will write to you explaining what is happening and when we expect to formally reply to you.

Within eight weeks, we will either send you a final response outlining details of any actions we propose, or, inform you why we are not yet in a position to provide a final response and indicate when we expect to be able to do so.

If you are still not satisfied 

If you remain dissatisfied on receipt of our final response, eight weeks after we received your original complaint or within six months of receiving your Summary Resolution Communication, you have the option to refer the matter to the Financial Ombudsman Service, who were set up by law to provide consumers with a free, independent service for resolving disputes with financial firms.

How we perform against complaints we receive. 

The table below gives figures for the average time taken to resolve all complaints between April 2015 and March 2016 (figures are for Just Retirement, both annuity and equity release customer complaints).

Time to resolve


Within 24 hours


Within 4 weeks


Over 4 weeks


You can read our complaints leaflet 'Making a complaint and our commitment to you', here.

Life Assurance Customers

Most standard insurance providers have a maximum ‘loading’ they are willing to accept after they carry out their assessments of the applicant’s health. If the applicant doesn’t meet these criteria they will be declined. Partnership specialises in taking on people with health conditions that will reduce their life expectancy. 

In simple terms, we charge you a premium that reflects the degree of risk your policy would present to us. In other words, the more likely we are to have to pay out, the higher the premium, therefore the more severe your health condition, the higher your premium will be.

Partnership aim to provide an illustration within 48 hours. However, given that we are often reliant on external parties, such as General Practitioners, this can delay the issue of a quotation.

Queries on your policy, or to make a claim, call 0333 043 7013*

Alternatively, you can contact us in writing at the address below:

Partnership Customer Services

Ryan Direct Group

Quay Point

Lakeside Boulevard



Please contact us immediately in the event that a claim needs to be made.

*Telephone calls may be recorded for training and monitoring purposes. Local call rates apply.

In the first instance you must complete an application form on which you should provide as much information as possible about your medical history. Depending on your age and health, the sum assured you require and the information you provide on your application form, we may seek additional medical information from your GP to support your application. In certain circumstances we may require you to attend a medical examination or undergo further tests.

There are many reasons why you might want to take out life assurance. It may simply be to ensure your family is provided for when you die, especially if you are the main breadwinner. If you have a large debt or a significant interest in a business, life cover may also be required. For example large companies may require key man cover for their directors, or shareholder protection. It might also be sensible to take out life cover to protect a personal mortgage debt.

Our Enhanced Retirement Account and IFDL ISA

Yes. Through the Guaranteed Element, a Guaranteed Income is paid to you for the duration of your life and, potentially, someone else’s, depending on the options you selected at the start of your ERA.

Please note the Enhanced Retirement Account is no longer open to new customers. Existing ERA customers can continue to operate their plans as normal.

No, however should you require an IFDL ISA you could take one out at a later stage.

Please note the IFDL ISA is only available to existing ERA customers.

Yes, any payments you make into this IFDL ISA will count towards your annual ISA allowance. If you have already used your ISA allowance for this year, you will not be able to take out the IFDL ISA.

Please note the IFDL ISA is only available to existing ERA customers.

The ERA is now closed to new business and new customers, however if you are an existing ERA customer, you can continue to use your plan as normal.

The IFDL ISA is not available to new customers, however if you are an existing ERA customer, you are able to invest money into an IFDL ISA using your existing Enhanced Retirement Account

Your money will be invested in funds to achieve investment growth but there is a risk that you may not get back what you invested, depending on the performance of the underlying investments. The money invested is subject to tight controls so that, beyond the investment risk, it is managed to avoid any additional risks to it. 

The Enhanced Retirement Account (ERA) is designed to make sure you can pass as much of your remaining investment on to your beneficiaries as possible. 

Flexible Investment Element

Any remaining funds held in the Flexible Investment Element can be passed on to your beneficiaries.

Guaranteed Element

Unless the dependant’s benefit, guarantee period or value protection option was selected, your secure income payments will cease on death.

You can contribute money from your pension tax-free cash. You can also make regular investments into your ISA and you can also transfer previous years’ ISAs into your IFDL ISA.

Please note the IFDL ISA is only available to existing ERA customers.

Only existing Enhanced Retirement Account customers. The product is no longer open to new customers, but existing customers can take out an IFDL ISA.

The Partnership Enhanced Retirement Account is a registered pension scheme known as a Self-Invested Personal Pension (SIPP). The SIPP is provided by Investment Funds Direct Limited (IFDL). Within the SIPP, the Guaranteed Element is provided by Partnership and gives you a secure level of income, guaranteed for the rest of your life. The Flexible Investment Element is provided by IFDL and can invest in a range of funds giving you the opportunity for investment growth.

Your contract is with IFDL. They will purchase the Guaranteed Element from Partnership on your behalf. The investment funds available in the Flexible Investment Element are managed by Vanguard.

Your Enhanced Retirement Account also has the option of taking out an ISA, provided by IFDL, that gives you the same choice of investment funds. You can use this ISA to invest some of your pension tax-free cash, if you do not intend to use all of it at this time. If you are interested in learning more, please see the IFDL ISA Key Features document.

Please note the IFDL ISA is only available to existing ERA customers.

Our Lifetime Mortgage Customers

You can apply for a further advance on your lifetime mortgage subject to the terms and conditions. Any further advance offered will be subject to a minimum amount and a new professional valuation report, which you must pay for. We may also ask your GP for another medical report, which we will pay for.

Please note: The maximum will depend on the value of your property and your life expectancy at that time. If you borrowed the maximum amount possible in your original application, then it is likely that there will not be enough equity in your property to fund a further advance – unless your property has significantly increased in value. You must also take fees into consideration and the fact that the interest rate for a further advance may be higher or lower than that payable when you first took out your lifetime mortgage.

Partnership reserves the right to decline an application for additional borrowing.

Please call 0333 043 7040*

If your policy is an Equity Advance Plan and the policy reference starts with HB, IR or IH, please choose Option 4 (Equity Release), and then select Option 1 (Equity Advance Plan policies beginning with HB, IR, IH).

For Dunfermline Building Society customers please call 0345 234 0698.

For all other customers, please choose Option 4 (Equity Release) and then select Option 5.

*Telephone calls may be recorded for training and monitoring purposes. Local call rates apply.

Your options will depend on your circumstances at the time.

If you are the only borrower and it has been confirmed that you need to move out of the property due to needing long term care, the lifetime mortgage will need to be repaid.

If you have a joint lifetime mortgage and only one of you needs to leave the property, the second borrower can continue living in the home during their lifetime. When the second borrower goes into long term care, the lifetime mortgage, accumulated interest and any charges will need to be repaid, which is normally done from the proceeds of the sale of the property.

The Early Repayment Charge does not apply if you sell your home because it is confirmed that you need to move because you require long term care. There are some circumstances in which you may need to go into care temporarily and want to return to your own home at a later date. If this happens, you must tell us immediately and we will make a decision on what to do with your property. In these circumstances, each case is assessed on an individual basis.

When you die (or in the case of joint borrowing, on the death of the last survivor) the executor/administrator of your estate must notify us and the lifetime mortgage must be repaid, usually from the sale of the property. If your property is sold for more than the outstanding mortgage balance, sales costs will be deducted and the difference will be paid to your estate.

If however the property is sold for less than the outstanding mortgage balance and sales costs, your beneficiaries will not have to make up any shortfall so long as you have continued to meet the terms and conditions. This is known as the 'No Negative Equity Guarantee' (defined by the Equity Release Council) and is a very important safeguard on the lifetime mortgage for you and any beneficiaries of your estate.

If a proportion of your property’s value is covered by our Inheritance Protection, your estate will also retain at least that proportion of the sale proceeds.

You can transfer your Partnership Equity Release product to your new home, provided you and the property meet our lending criteria at that time. A Property Transfer Fee would be payable.

If the property you are looking to move to is eligible but there's insufficient equity in it to cover your existing loan and accumulated interest, you will have to repay the difference from the sale proceeds of your original home and/or any Inheritance Protection may be lost. Under these circumstances no Early Repayment Charge is due but a Property Transfer Fee would be payable to cover our costs.

If the new property is not eligible you will need to repay the whole loan and accumulated interest when your current property is sold. In this instance an Early Repayment Charge may apply. This could mean you are left with too little capital to buy a new property.

Please note: the majority of sheltered housing accommodation is not acceptable for a Lifetime Mortgage. If you decide to move into this or any other unacceptable property, you will still need to repay the loan in full. An Early Repayment Charge may apply.

If you do not want to transfer the loan and accumulation of interest and charges to your new property, the debt must be repaid in full on completion of the sale. An Early Repayment Charge may be payable.

You will be liable for all fees associated with moving home.

Your Partnership Equity Release product is designed to be repaid when you (or both of you are borrowing jointly) die or leave your home because you need long term care. If you repay your lifetime mortgage at any time for any other reason you may have to pay a substantial early repayment charge.

The early repayment charge calculation is based on the size of the loan; the estimated future term of the mortgage and any movement in the level of long term interest rates. Full details of how this is calculated will be included on the illustration you received from your financial adviser.

Yes. This is essential because you will require independent legal advice.

If you don't have a solicitor, the National Solicitors Network can put you in touch with solicitors in your local area who are fully qualified, equity release specialists. You can contact them at or call 0845 603 0708.

The solicitor must provide us with an Equity Release Council Solicitor’s Certificate, verifying that they have explained the details of the contract to you and that you understand the terms of that contract. You'll have to pay all your own legal costs and all disbursements.

Partnership will pay all of our own legal costs.

Yes, because you will require independent financial advice.

If you don't have a financial adviser, the Equity Release Council can help you find advisers in your local area who are fully qualified, equity release specialists. You can contact them at