Alan arranged a Personal Pension Plan over the internet. What is the legal cooling-off period?

• A. A 10 days.
• B. B 14 days.
• C. C 21 days.
• D. D 30 days.

Answer: (D)

When you buy a Personal Pension Plan online, you’re covered by a cooling-off period that lets you reconsider the decision after you’ve received the contract documents. For this type of long-term pension arrangement, the rule provides a 30-day window to cancel without penalty and get back any money you’ve paid. This period starts from the day you receive the contract terms and the relevant information about your rights, and you must notify the provider within those 30 days, typically in writing or via the provider’s system. The aim is to give you time to review charges, terms, and the suitability of the product, especially since it’s arranged remotely. Shorter windows like 10, 14, or 21 days exist for other types of consumer contracts, but for a Personal Pension Plan arranged over the internet, 30 days is the standard cooling-off period.