Hawthorn Life has introduced new identity verification requirements - September 2017

Hawthorn Life has introduced new identity verification requirements for financial transactions. We will verify an individual’s identity via electronic searches with a professional agency. The searches will be against public and other types of records, for example, the electoral role. They will also check whether an individual has any banking or other credit facilities for identity verification purposes only. The searches will not disclose any financial information about an individual’s affairs or financial status and are solely conducted for the purpose of confirming identity. Hawthorn Life may also require additional identity verification documentation, depending on the circumstances of each individual.


Retirement Risk Warnings

From 6th April 2015, retirement risk warnings must be given to consumers when accessing their benefits or amending their Pension Income . As a result, our Pension Forms will be changing and will also potentially trigger the completion of a new 'Retirement Risk Questionnaire'.

Please note that where a Planholder's Financial Adviser:

  1. provides advice specific to the transaction being requested
  2. declares this within the form and
  3. submits the form on behalf of their client

a Retirement Risk Questionnaire is not required.

However, if the form for accessing benefits is:

  1. submitted by the Planholder (regardless of whether advice or guidance has been sought)

a Retirement Risk Questionnaire must be completed and submitted with the form.


Financial Advice

Before you make any decisions, we would strongly recommend you speak to your Financial Adviser. If you do not have a financial adviser, you can find one in your area by visiting https://www.unbiased.co.uk. Please note that seeking guidance or advice is a key part of protecting yourself and your family when making this important decision.


Pension Wise. Your Money. Your Choice

We encourage you to take advantage of Pension Wise which is a free and impartial service set up by HM Treasury to help you to understand what your options are for taking the benefits from your Pension. You will be able to get help on the Pension Wise website, over the phone or face to face about the following:

  • what you can do with your pension pot;
  • the different pension types and how they work; and
  • what is tax-free and what is not.

To find out more information about this new service please visit https://www.gov.uk/pensionwise. Alternatively, phone or face to face meetings can be arranged by calling 0800 138 3944 between 8am and 8pm, Monday to Friday.


Other useful links

You can find more information about the changes introduced by the 2014 budget by visiting: