Fidante Benefits Package

Who provides the Workplace Pension Plan?

AEGON is the current provider.

What is this Plan?

It is a Personal Pension Plan. This is a long-term savings arrangement that allows you to build wealth in a highly efficient manner. The objective is to accumulate as large a fund as possible by the time you retire. When you reach retirement age (currently, the earliest age is 55 but this rises to age 57 from 2028), you have a wide range of options and flexibility in terms of how you withdraw benefits. Please note that although a Pension provider is fully involved, your Fidante Pension is entirely owned by you personally. You decide how the value is invested (although there is a default fund). You decide when benefits are withdrawn (currently, at any age from age 55 onwards, rising to 57 from 2028) and you decide how benefits are withdrawn. At Fidante, we believe that this is exactly how it should be – maximum member flexibility. Fidante’s ongoing involvement is restricted to paying a regular company contribution towards your Pension.

What are the contribution rates?

• Fidante Contribution – 8% of your Pensionable Salary* • Personal Contribution – 4% of your Pensionable Salary**

Pensionable Salary is defined as your full basic salary excluding any bonuses, commissions or any other agreed remuneration.

*The Fidante company contributions are subject to a cap of £833.33 per month (£10,000 per year).

** Fidante offer a highly tax efficient ‘Salary Exchange’ option for the payment of your personal contributions. Please refer to the next section (entitled ‘Fidante Salary Exchange and Bonus Exchange’).

Can I pay additional personal contributions?

Yes, it makes good sense to pay the maximum you can afford in excess of the minimum 4% rate. Contributions can be paid up to the HMRC maximum Annual Allowance. This is up to 100% of salary with a cap of £60,000 per year (company contributions from Fidante count towards this allowance). HMRC place further limits on how much you can pay in to your pension if your total annual earnings (from all sources) exceed £260,000. Please see the later Tapered Annual Allowance section if you think you may be affected.

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