Fidante Benefits Package

What are the benefits at retirement?

The overall aim is to accumulate as large a pension fund as possible throughout your working lifetime. When you eventually retire, 25% of your accumulated fund value can be withdrawn as a tax free lump sum (up to a maximum tax free lump sum of £268,275). The remaining 75% is used to provide you with an income (which will be subject to income tax). Various income options are available to you – and you should seek advice to establish what is most suitable for your needs and circumstances.

Does membership affect my State Pension?

The State Pension is not affected by membership of the Fidante Pension Scheme. The plan benefits are payable in addition to the State Pension.

Can I ‘opt out’ of the Pension?

• Yes, although you will miss out on valuable Pension contributions from Fidante if you do. • Existing members of the Pension Plan will not receive an ‘opt out’ notice although it is possible to request to leave the Pension. However, any contributions previously paid must remain within your Pension (they cannot be refunded). • For new joiners, when you are first enrolled you will receive a statutory notice explaining your rights. You will be given a 30- day period in which to ‘opt out’ of the arrangement and receive a refund of any personal contribution already deducted from your pay. • In either scenario (if you opt out or subsequently leave the Pension Scheme), legislation requires Fidante to re-assess you broadly every three years and where applicable, to automatically re enrol you back into the Pension Scheme.

What happens in the event of death before retirement?

In the majority of cases, the full value of the AEGON pension fund will be payable to your beneficiaries as a tax-free lump sum. This is in addition to the Group Life Assurance benefits provided by Fidante. Members should complete a Death Benefit Nomination form relating to the Pension value (this is separate to the Group Life Nomination form).

What happens if I leave service?

It is important to remember that the plan belongs to you. In the event of leaving service, any of the following options could apply: • You can continue your plan in full or at a reduced contribution level. • You can stop all contributions – with the plan value remaining fully invested. • A transfer value can be paid to any other approved pension arrangement. • There are NO penalties for stopping contributions or for moving the plan to another arrangement in the future.

Can I switch the value of other existing Pensions to this Plan?

Yes - and it often makes good sense to consolidate pension arrangements. However, each existing plan should be carefully reviewed before making any final decisions. You should take advice before considering any pension transfer.

19