Fidante Benefits Package

independent financial advice, where it is required (the costs of which are borne by the member personally).

What are the other Investment options?

There is a huge range of alternative options available with AEGON – this is a key advantage of the arrangement. You have access to more than 4,800 investments – other funds and individual shares. • For full details of the default fund (and the range of alternative options), please click here where you can search for all available funds. • If you wish to switch out of the default fund and choose your own investment funds, you will first of all need to register for full online access. You will then be able to submit your instructions online. Further details can be found here . • Alongside your Pension, the AEGON platform also enables you to hold and collectively manage personal investments such as Investment ISAs and General Investment Accounts. For more information please click the link above for the plan guide.

When can I withdraw benefits?

The normal retirement age for the plan is 65 but benefits can be taken at any time from age 55. This minimum retirement age changes to 57 from 2028 with the Government’s intention to eventually link it to 10 years below the prevailing State Pension Age.

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 When you eventually retire, 25% of your accumulated fund value can be withdrawn as a tax free lump sum (up to a maximum tax free lump sum of £268,275).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.

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