Fidante Benefits Package

• 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. However, please note that only the first £1,073,100 of any lump sum payable from Pensions is tax free – any excess will be taxed at your beneficiaries’ marginal rates of income tax. Any lump sums previously withdrawn from Pensions count towards this £1,073,100. It is absolutely essential for all members to complete a Nomination form with Aegon (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.

I need personal advice on my pensions – how do I obtain this?

To be clear, no personal advice is automatically provided – members join modern day Workplace Pensions on a non-advised basis.

If you require personal advice (as many do), you are free to approach your existing advisers (if already in place) or appoint any other adviser of your choosing. Alternatively, JMA (the employee benefit advisers for Fidante) can provide you with advice in relation to any of your pension, protection and wider savings needs. Please contact them directly at corporate@jmurray.co.uk if you would like to know more about their fees and services.

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