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A more predictable and reliable income

A steady income is vital if your clients are approaching, or in, retirement to help them feel more secure about their financial future.

A unique feature of the Quilter Smoothed Funds is that regular withdrawals of up to 7.5% of your clients’ investments each year (the regular withdrawal allowance) will not be subject to any downward price adjustments (other than if the smoothing process is suspended in certain extraordinary circumstances).

The 7.5% per year regular withdrawal allowance is calculated using the higher value of:

  • the sum of any investments into the smoothed fund, less any disinvestments (excluding regular withdrawals, regular fees and charges)
  • the current investment value of the smoothed fund based on the adjusted smoothed price
  • the current investment value of the smoothed fund based on the smoothed price.

The regular withdrawal allowance of 7.5% per year will be split proportionally based on the expected number of withdrawals in a year. This allowance is calculated at the beginning of the month in which a regular withdrawal will be made.

The regular withdrawal allowance

The chart below shows where there has been a downward price adjustment. The dashed blue line is the adjusted smoothed price following the downward price adjustment. All through this period, regular withdrawals of up to 7.5% per year will still receive the six-month rolling average price.

The regular withdrawal allowance

For illustrative purposes only. The chart shows monthly regular withdrawals. However, regular withdrawals can be on a monthly, quarterly, half-yearly, or yearly basis.

The value of your clients' investments and the income they produce can fall as well as rise. Your clients may get back less than they invested.

While the Quilter Smoothed Funds aim to reduce the size of the day-to-day fluctuations to the fund value, they do not provide any guarantees. The smoothing process could reduce returns in rising markets and reduce losses in falling markets.

Flexible and tax-efficient withdrawals

We make the Quilter Smoothed Funds available as an investment option through our award-winning pension, the Collective Retirement Account (CRA).

The CRA offers some of the most comprehensive withdrawal options in the market. These options are designed so they can be tailored to meet the different needs of your clients. This could help to grow their pension savings, be more tax-efficient, and maximise their legacy, if required.

Find out more

Your next step

Let us show you how the Quilter Smoothed Funds could give your clients the confidence to remain invested and enjoy a more sustainable income in retirement.

Contact us to find out more

This communication is issued by Quilter, a trading name of Quilter Life & Pensions Limited.

Phoenix Life Limited, trading as Standard Life, is registered in England and Wales under number 1016269. Registered office at 10 Brindleyplace, Birmingham, B1 2JB. Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Standard Life trademark is owned by Phoenix Group Management Services Limited and is used by Quilter under licence.

Approver: Quilter November 2025

QIP 23946/34/13938