Quilter 19 How to set up the withdrawals Below are notes on how to complete the third schedule of the trust deed. The Third Schedule: The Settlor’s Fund The payments to be made in accordance with this schedule are indicated by completion of boxes A, B and C. Level Payments % per annum of the single premium for the Trust Property shown in the First Schedule, the first payment arising months after the Declaration Date (‘ the Start Date ’), and subsequently payable thereafter and ceasing with the last payment to arise before the death of: (a) the Settlor if this is a Single Settlor Trust; or (b) the later to die of the two persons comprising the Settlor if this is a Dual Settlor Trust. C B A Box A State the amount of the settlor’s income as a percentage of the premium paid to the Collective Investment Bond. For example, if the settlor wants 5% of the premium, ‘5’ should be inserted here. Box B State how long after the declaration date the settlor wishes the payment to start. For example, if you want payments to start three months after the declaration date insert ‘3’ in here. It should always be expressed in number of months, not years. Box C Frequency of payment must be entered here. The options available will be dependent on what has been entered in Box B as payments are made in arrears. See table below. How long after the declaration date would you like payments to start? What should be written in Box B? (the deferred period) What could be written in Box C? (frequency options) 1 month 1 M 3 months 3 M, Q 6 months 6 M, Q, 1/2 Y 1 year 12 M, Q, 1/2 Y, Y 2 years 24 M, Q, 1/2 Y, Y 3 years 36 M, Q, 1/2 Y, Y 4 years 48 M, Q, 1/2 Y, Y 5 years 60 M, Q, 1/2 Y, Y Please note, as payments can only be made in arrears, the minimum deferral period for each type of withdrawal is: Monthly – one month Quarterly – three months Half yearly – six months Yearly – twelve months