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1 STAKEHOLDER PENSION KEY FEATURES. This is an important document that you should read and keep in a safe place. You may need to read it in future.

2 2 STAKEHOLDER PENSION KEY FEATURES USING THIS DOCUMENT. ABOUT US The Legal & General Group, established in 1836, is one of the UK s leading financial services companies. As at 30 June 2015, the total value of assets across the group was billion, including derivative assets. We also had over nine million customers in the UK for our life assurance, pensions, investments and general insurance plans. CONTACTING US There are several ways to contact us. Call us on Call charges will vary. We may record and monitor calls. us at If you re contacting us by please remember not to send any personal, financial or banking information because is not a secure method of communication. You can write to us at: Legal & General City Park The Droveway Hove East Sussex BN3 7PY WHAT ARE KEY FEATURES? The Financial Conduct Authority is a financial services regulator. It requires us, Legal & General, to give you this important information to help you to decide whether our Stakeholder pension plan is right for you. You should read this document carefully so that you understand what you re buying, and keep it safe for future reference. ABOUT THIS DOCUMENT This is a guide to the key features of the Stakeholder pension plan, referred to as the plan throughout this document. When you take out the plan you become a member of the Legal & General Stakeholder Pension Scheme. This is an HM Revenue & Customs (HMRC) UK Registered Pension Scheme. OTHER DOCUMENTS If you re reading this document from our website, or have received it as part of a pack, you should read it alongside the Choosing your Investment Fund brochure that accompanies it. You can find more details about the plan in the Member s Policy Booklet, which we ll send you after you start your plan. Alternatively, you can ask us for a copy. Finding out more This icon appears when more detailed information is available elsewhere. Please ask us if you d like to see any other documents we mention before buying this plan. AT A GLANCE The plan is a personal pension. It s a simple, tax-efficient way of saving for your retirement, with access to a wide range of investment funds. You can start a plan if you re under age 74 and a UK resident. If you would like a copy of this or any other item of our literature in larger print, Braille or in audio format, please contact our customer services team on the telephone number above.

3 STAKEHOLDER PENSION KEY FEATURES 3 KEY FEATURES OF THE STAKEHOLDER PENSION PLAN. ITS AIMS To build up your pension pot in a simple, straightforward and tax-efficient way. To give you the choice of taking part of your pension pot as a tax-free cash sum when you take your benefits. To allow you to take ad hoc lump sum payments directly from your pension pot. To let you use your pension pot to buy a pension income payable for the rest of your life this is called buying an annuity. To provide an income or lump sum for your spouse, registered civil partner or your financial dependants if you die before you take your benefits. YOUR COMMITMENT The minimum amounts we can accept are: Regular contributions of 20 (gross). Single contributions of 20 (gross). Transfer payments from other pension schemes of 20. All contributions and transfer payments made to the plan are normally tied up until you take your benefits, which is usually any time from age 55. RISKS The value of your investments can fall as well as rise, so the value of your pension pot is not guaranteed. It is particularly important to remember this if you re close to taking your benefits. This document includes some example illustrations to show how much pension income a plan could provide. These aren t specific to you. We ll send you a personal illustration after your plan starts that will be tailored to you, however, you should be aware that certain risks apply. Your actual pension pot when you take your benefits could be less than shown in your personal illustration because: Investment growth could be lower than illustrated. Contributions stop or reduce. The charges may go up. You could take your benefits earlier than planned. The amount of pension income provided by your pension pot will depend on several things. These include charges, investment returns and, if you choose to buy an annuity, the annuity rates available to buy your pension income when you decide to take your benefits. Rights to means-tested State benefits could be affected by benefits you take. For more information, visit the Department for Work and Pensions website at If you have obtained protection for your pension benefits against HMRC s Lifetime Allowance, you would have completed an HMRC form. Depending on the protection you have, any contribution to this plan may mean that you lose your protection. The investment fund(s) you choose will have specific risks. See the Choosing your Investment Fund brochure for more details. There are some important things to consider if you re transferring the value of a plan from another provider, which we ll cover later in this document.

4 4 STAKEHOLDER PENSION KEY FEATURES QUESTIONS AND ANSWERS. DO I NEED ADVICE? This document does not provide financial advice. To help you decide whether a Stakeholder pension plan is suitable for you, you should look at the Money Advice Service s website: The Money Advice Service helps people manage their money. They do this directly through their free and impartial advice service. They also work in partnership with other organisations to help people make the most of their money. They are an independent service, set up by the Government. If you still don t feel confident that you understand how the plan works, or if it s right for you, please speak to an adviser. If you wish to talk to an adviser in your local area you can find one online at CAN I MAKE TRANSFER PAYMENTS TO MY PLAN? Yes, you can make transfer payments into your plan from other UK Registered Pension Schemes or from Qualifying Recognised Overseas Pension Schemes. We recommend you speak to an adviser if you want to do this. If you re unsure what type of scheme you have please contact us. Your old provider calculates the amount of the transfer payment. If you re making a transfer payment into your plan, you should consider the following. You should check with your old provider if you are unsure about any of the detail. How do the charges compare? How do the investment fund choices and past performance compare? Please remember that past performance is not a guide to future performance. Will consolidating your benefits offer you greater flexibility and easier management of your retirement planning? Will your old provider charge a transfer penalty? Will you lose out on any special features such as a loyalty bonus, guaranteed additions, guaranteed annuity rates or protected tax-free cash? Can you take your benefits from the Legal & General plan at the same time you wanted to under your old plan? Will you lose any waiver of premium or life assurance cover? If you re using another pension plan for income drawdown, you can t transfer it into this plan. This document is not suitable if you want to transfer a pension pot from a defined benefit or final salary scheme, or from pensions with safeguarded rights or invested in with profits. We recommend you speak to an adviser about these types of transfer payments. HOW CAN I PAY CONTRIBUTIONS? You can pay regular contributions monthly or yearly by Direct Debit or single contributions by cheque. Your employer and any other person (called a third party) can also contribute to your plan. CAN I CHANGE MY CONTRIBUTIONS? You can increase or reduce your regular contributions at any time. The amount of any contribution you make must meet our minimum requirements at that time. Contributions can automatically increase each year this is called indexation. WHAT HAPPENS IF I STOP MAKING CONTRIBUTIONS? You can stop making contributions at any time. Your pension pot will remain invested and charges will still be deducted. If these charges are greater than any growth in your pension pot the value of your pension pot will fall. You can start making contributions again at any time before you take all your benefits. WHAT HAPPENS IF I CHANGE MY EMPLOYER? Your plan is not tied to your employer, so you can continue to pay into it. If your employer was deducting your contributions from your salary and you leave that employment, you will need to complete a new Direct Debit instruction to keep paying in. Please ask us if you d like a new Direct Debit instruction.

5 STAKEHOLDER PENSION KEY FEATURES 5 If your new employer has a company pension scheme, it s usually best to join as they can also make contributions. Even if you join a company pension scheme, you can also pay into this plan. WHAT IS THE TAX POSITION? CONTRIBUTIONS There s no limit on how much you can contribute, however, there is a limit on how much tax relief you can get. Your contributions before basic rate tax relief is added are net contributions. We add tax relief up to the basic rate, which we reclaim from HMRC, on the contributions you make. Your contributions after basic rate tax relief is added are gross contributions. If you have no earnings, or earn up to 3,600 in a tax year, you can contribute 2,880 net across all your pension schemes and get tax relief of 720, giving you a gross contribution of 3,600. If you earn more than 3,600 in a tax year, you can get tax relief on 100% of the earnings you contribute up to the Annual Allowance. For example, if you pay 80 a month as your net contribution, we currently add 20, as the basic rate of tax is 20% ( 80 divided by 0.8 = 100). Your contract is for the gross contribution, so if the basic rate of tax changes, the amount you pay will change. If you re a higher/additional rate taxpayer, you can reclaim any further tax relief through your yearly tax return. Tax relief does not apply to: Transfer payments Employer contributions Any contributions on or after your 75th birthday. When you reach age 75 your regular net contribution will increase as your contract is for the gross contribution and the tax relief will no longer be added. ANNUAL ALLOWANCE If the total gross contributions paid by you, your employer or a third party, into any UK Registered Pension Scheme you ve taken out are over the Annual Allowance, you ll be subject to a tax charge. If you re also in a final salary pension scheme (defined benefit), your gross contributions for that scheme will be based on the increase in the value of your benefits during the tax year. The Annual Allowance for the current tax year is 40,000. Where the total contributions exceed the Annual Allowance in a given tax year, unused allowances from the three previous tax years may be available (known as carry forward ). In some circumstances a reduced Annual Allowance may apply: Your Annual Allowance will be reduced if your income (including the value of any pension contributions) is over 150,000 and your income (excluding the value of any pension contributions) is over 110,000. A Money Purchase Annual Allowance (MPAA) will apply if you take money directly out of any money purchase (defined contribution) pension pot you have, unless you: - Only take your tax-free cash amount, or - Take all of it under the small pension pot rules, or - Continue taking Capped Income Drawdown. Not all of these options will be available from every pension pot. The MPAA is 10,000 and you won t be able to use carry forward. It will apply to all future contributions made to your money purchase pension scheme(s). If you are a member of a final salary pension scheme your overall Annual Allowance stays at 40,000 and you can still use carry forward in that scheme. The Annual Allowance will not apply in the tax year in which you die or if you take your benefits because of serious ill health. More information is also available at You should contact an adviser if: You expect your total gross contributions into all pension schemes to exceed the Annual Allowance in any tax year; You have any additional questions about your pension, including whether your Annual Allowance will be reduced.

6 6 STAKEHOLDER PENSION KEY FEATURES INVESTMENTS Any growth in your pension pot is free of UK income tax and capital gains tax. However, we cannot reclaim the tax paid on dividends from UK companies. BENEFITS There are no restrictions on the value of the total benefits payable from all your Registered Pension Schemes. However, anything over a certain level, called the Lifetime Allowance, will be subject to a tax charge of up to 55% on the excess. For most people their Lifetime Allowance will be the standard Lifetime Allowance. The standard Lifetime Allowance for the tax year 2016/2017 is 1 million. Certain circumstances may mean you have a different personal Lifetime Allowance you will have completed an HMRC election form if this applies to you. DEATH If you die before age 75, any death benefits will normally be paid tax-free. If you re aged 75 or over when you die, any death benefits will be taxed as earned income. In some circumstances there could be an additional inheritance tax liability. The information in this document is based on our understanding of current law relating to pensions. The law and tax rates may change in the future and the value of tax relief will depend on your individual circumstances. WHAT ARE MY INVESTMENT OPTIONS? We currently offer more than 25 investment funds managed by Legal & General and more than 15 investment funds managed by other fund managers for you to choose from. You can invest in up to 10 of them at any one time. Each investment fund has a different investment focus. You can change funds whenever you want to. We don t currently charge for switching funds and there s no limit on the number of switches you can make. If you don t want to actively manage your plan, we have a range of lifestyle profiles for you to choose from. You can choose to invest in any of them, but you can only invest in one lifestyle profile at a time. You can move your money between investment funds and lifestyle profiles whenever you want, but you can t invest in both at the same time. We ll invest each contribution or transfer payment you make into your plan using your instructions. If you don t want to choose an investment fund, we ll invest your contributions and transfer payments in the Multi-Asset Lifestyle Profile. We ll send you a personal illustration once we ve set up your plan, which will show details of your chosen investment funds. For full details of the funds and lifestyle profiles available see our Choosing your Investment Fund brochure. You can find out more about how we manage our investment funds in our A Guide to How We Manage Our Unit-Linked Funds at or ask us for a copy. WHAT ARE THE CHARGES? There are three different annual management charges (AMC) that could apply to your plan, which are taken monthly from your pension pot. These cover set up and management costs, administration and day-to-day fund management. BASIC AMC The basic AMC applies to all plans. The rate depends on the value of your pension pot. Pension POT value band Current rate of basic AMC applicable to band 0 up to 25, % 25,000 up to 50, % 50,000 and over 0.8% For example, if your pension pot is worth 40,000 throughout the year, the basic AMC would be 385. This is calculated as follows ( 25,000 x 1.0%) + ( 15,000 x 0.9%), which is = 385.

7 STAKEHOLDER PENSION KEY FEATURES 7 TEMPORARY AMC A temporary AMC will not apply to your plan if: your initial investment is 15,000 or more; or you bought your plan online. In all other circumstances a temporary AMC of 0.2% a year will apply to your plan. It will only apply for the first 10 years of your plan or until your pension pot first reaches 15,000 at the start of a plan month, whichever is sooner. EXTERNAL FUNDS AMC You can choose investment funds managed by Legal & General or external companies. There s a charge for external funds, currently 0.15% a year, that we ll apply to the parts of your pension pot invested in an external fund. Additional information on charges We ll send you a personal illustration containing details of the full charges when we set up your plan. We review our charges regularly and may introduce charges or change the type and level of charges at any time. We ll let you know in writing at least 30 days before we make any such change. Your Member s Policy Booklet gives further information about why we might make changes. Charges will never exceed the maximum allowed for a Stakeholder Pension Scheme. Currently the total AMC must be no more than 1.5% a year of your pension pot for the first 10 years, and no more than 1% a year after that. CAN I TRANSFER TO ANOTHER PENSION PROVIDER? You can transfer the value of your plan to another UK Registered Pension Scheme or to a Qualifying Recognised Overseas Pension Scheme at any time. HOW CAN I TAKE MY BENEFITS? You can normally: Take up to 25% of your pension pot as a tax-free cash sum and use the remaining pot to buy an annuity. You can buy an annuity from us or from another provider. You might see buying it from another provider described as the Open Market Option. The income from an annuity will be taxed as pension income. Take all your pension pot as a cash sum. The first 25% will be tax-free and the other 75% will be taxed as earned income. Take part of your pension pot as a cash sum and leave the rest invested. Each time you take a cash sum, the first 25% will be tax-free and the other 75% will be taxed as earned income. If you only take part of your pension pot, any money remaining in your pot will be subject to the risks on page 3. Alternatively, you can transfer your whole pension pot to another suitable pension product where other options, such as taking income directly from your pension pot, might be available. We ll write to you as your selected retirement date approaches with details of the choices you have. WHAT WILL AFFECT MY EVENTUAL PENSION INCOME? The value of your plan will mainly depend on the investments you make and on the performance of those investments up to the time when you choose to take your benefits. If you choose to buy an annuity, the rates available at the time and the options that you select will affect your benefits considerably. Annuity rates can change significantly over short periods of time, both up and down. WHEN CAN I TAKE MY BENEFITS? You can take your benefits any time from age 55. If you re unable to continue working because of ill health, you may be able to take an income from this plan earlier than age 55. At age 99, you must choose either to take all your benefits as a lump sum, buy an annuity or transfer your pension pot to a different pension product.

8 8 STAKEHOLDER PENSION KEY FEATURES WHAT HAPPENS IF I DIE BEFORE I TAKE ALL MY BENEFITS? The way we ll pay your benefits will depend on a number of things, including if you ve nominated a beneficiary or set up a trust. We will pay any death benefits at our discretion taking into account the range of potential beneficiaries outlined in the Member s Policy Booklet. If you make a nomination, we will not be bound by it but will take it into account when deciding who to pay the benefit to. The lump sum death benefit is equal to the value of your pension pot. You can set up a trust or make a nomination at any time. Your Member s Policy Booklet provides full details and important information to consider. Please also see the Death section in What is the tax position? on page 6. HOW DO I MANAGE MY PLAN? We ll send you yearly statements to help you keep an eye on your plan. You can ask us for a valuation or additional statements whenever you want. You can also manage your plan online by registering for My Account through our website at My Account lets you view the current value of your pension pot. You can also switch the funds you re invested in, change the amount or regularity of your contributions, and the date you intend to take your benefits. Your plan is a long-term investment and to get the most out of your plan you should actively manage it. You need to check its value regularly, make sure you understand how your investments are performing and that it s continuing to meet your needs. CAN I CHANGE MY MIND? We ll send you a notice of your right to cancel when we start your plan. You will then have 30 days to change your mind. If you decide to cancel within this 30 day period you should complete the cancellation notice and return it to the address shown on it. You must post it on or before the 30th day after you received the notice. If you don t take this opportunity to cancel and you want to do so at a later stage, you cannot get any money back until you take your benefits. If you cancel your plan, we ll refund any regular contributions in full. If you ve paid any single contributions or a transfer value, your refund on these will reflect any investment loss during the period before we receive your instructions to cancel. If you decide to cancel a transfer payment, we will make every effort to return the money paid to the previous provider. They are not obliged to accept the return of the transfer value. If we re told they will not accept the return of the transfer value, your plan with us will continue and the transfer value will remain invested as you have chosen. You may transfer to another provider but the transfer value will depend on the value of your plan at the transfer date. This could be less than the amount you ve paid in if there s been an investment loss. There is a helpful jargon buster on our website that defines some of the more unfamiliar terms that are used for pensions.

9 STAKEHOLDER PENSION KEY FEATURES 9 Example Illustrations. Over the following pages, we ve included some example illustrations of the benefits you might receive and the charges we make. There are four example illustrations based on the following four scenarios: 1. A 30 year old, contributing 50 gross each month for 25 years (page 10). 2. A 40 year old, contributing 100 gross each month for 15 years (page 11). 3. A 45 year old, transferring 10,000 with a selected retirement age of 65 (page 12). 4. A 50 year old, transferring 15,000 with a selected retirement age of 65 (page 13). IMPORTANT INFORMATION In all of the illustrations we assume that the pension pot is used to buy an annuity, please see the How can I take my benefits? section on page 7 for alternative ways you can take your pension benefits. We can t tell you the exact level of benefits your plan will provide you with when you take them. This is because the amounts available will depend on the contributions you make, how well the investments in your pension pot grow, the charges taken from your plan and annuity rates at the time you take your benefits. The temporary AMC as explained in the What are the charges? section on page 7 is taken into account in these illustrations. If a plan is set up online this charge won t apply, so the charges would be less. These examples are based on contributions being made into the Multi-Asset Fund. We ve assumed that the Multi-Asset Fund will grow at a rate of -0.5% a year (lower rate), 2.4% a year (mid-rate) and 5.4% a year (higher rate) after taking into account the effects of inflation. If you choose not to invest in the Multi-Asset Fund, and therefore choose one or more of the other funds available, different assumed growth rates may apply. All figures take into account an assumption for the effect of inflation. This shows the value of money in real terms to give you an indication of how much a sum of money in the future would be worth today and is known as the buying power. We assume a rate of inflation of 2.5% each year and that it will remain at this level to the selected retirement age. To change the pension pot into an income, we have used the standard pension rates set out by the Financial Conduct Authority (FCA). These assumed rates are different for each growth rate and are reviewed each year using a method prescribed by the FCA to reflect market changes. The pension incomes illustrated assume that the annuity will end when you die, the payment amount will remain the same and will be payable monthly in advance for life. They assume that if you die in the first five years, the pension will continue to be paid each month until a total of 60 monthly payments have been made. When you reach your own selected retirement date you will have a range of options available to you. We will provide you with full details about these options at that time. The illustrations assume the pension pots are within the standard Lifetime Allowance. As this promotion is offered directly by Legal & General, no advice costs are payable. If you seek personal investment advice, your adviser will tell you how much this costs and how it is payable.

10 10 STAKEHOLDER PENSION KEY FEATURES EXAMPLE ILLUSTRATION OF BENEFITS FOR A MEMBER PAYING 50 EACH MONTH GROSS FOR 25 YEARS PREPARED FOR: Age: 30 exactly PLAN BASIS: A gross monthly level contribution of 50. The monthly cost to you will be 40 assuming a basic rate of tax of 20%. The projected benefits depend on the gross contribution continuing at this level until the selected retirement age. The plan is invested in the Multi-Asset Fund. Please see the What are the charges? section on page 6 for assumptions about our charges. WHAT MIGHT THE BENEFITS BE WORTH? Assumed investment return: Low real growth rate (-0.5% a year) Mid real growth rate (2.4% a year) High real growth rate (5.4% a year) Total projected pot of: 9,130 13,600 20,800 This could provide a full pension for your lifetime of: 246 a year 526 a year 1,080 a year OR a tax-free cash sum of: 2,280 3,400 5,220 Plus a pension for your lifetime of: 185 a year 394 a year 815 a year When a negative (-) sign is shown in front of a growth rate it means that the assumed return of the investment will not keep pace with inflation. In other words, the buying power will decrease. Please remember that these are only examples and are not guaranteed they are not minimum or maximum amounts. You may get back more or less than this. EFFECT OF CHARGES The tables below set out what the value of your pension pot might be if you were to transfer it to a different pension scheme, at the end of the periods shown. The early years: WARNING The charges mean the transfer value could be less than you paid in, particularly if you stop contributions during the early years. The last two columns assume the mid real growth rate of 2.4% a year taking into account inflation. At end of year Total paid in to date Effect of deductions to date What the transfer value might be , , , , , , , ,910 The later years: At end of year Total paid in to date Effect of deductions to date What the transfer value might be 10 5, , , , ,480 1,410 11,000 Final 11,204 2,250 13,600 What are the deductions for? The deductions include expenses, charges, and other adjustments. The last line in the table shows that over the full term of the contract, the effect of the total deductions could amount to 2,250. Putting it another way, this would have the same effect as bringing down the real investment growth from 2.4% a year to 1.4% a year.

11 STAKEHOLDER PENSION KEY FEATURES 11 EXAMPLE ILLUSTRATION OF BENEFITS FOR A member PAYING 100 EACH MONTH GROSS FOR 15 YEARS PREPARED FOR: Age: 40 exactly PLAN BASIS: A gross monthly level contribution of 100. The monthly cost to you will be 80 assuming a basic rate of tax of 20%. The projected benefits depend on the gross contribution continuing at this level until the selected retirement age. The plan is invested in the Multi-Asset Fund. Please see the What are the charges? section on page 6 for assumptions about our charges. WHAT MIGHT THE BENEFITS BE WORTH? Assumed investment return: Low real growth rate (-0.5% a year) Mid real growth rate (2.4% a year) High real growth rate (5.4% a year) Total projected pot of: 13,300 16,700 21,300 This could provide a full pension for your lifetime of: 370 a year 661 a year 1,120 a year OR a tax-free cash sum of: 3,320 4,180 5,320 Plus a pension for your lifetime of: 277 a year 496 a year 844 a year When a negative (-) sign is shown in front of a growth rate it means that the assumed return of the investment will not keep pace with inflation. In other words the buying power will decrease. Please remember that these are only examples and are not guaranteed they are not minimum or maximum amounts. You may get back more or less than this. EFFECT OF CHARGES The tables below set out what the value of your pension pot might be if you were to transfer it to a different pension scheme, at the end of the periods shown. The early years: WARNING The charges mean the transfer value could be less than you paid in, particularly if you stop contributions during the early years. The last two columns assume the mid real growth rate of 2.4% a year taking into account inflation. At end of year Total paid in to date Effect of deductions to date What the transfer value might be 1 1, , , , , , , , , ,830 The later years: At end of year Total paid in to date Effect of deductions to date What the transfer value might be 10 10, ,300 Final 15,058 1,600 16,700 What are the deductions for? The deductions include expenses, charges, and other adjustments. The last line in the table shows that over the full term of the contract, the effect of the total deductions could amount to 1,600. Putting it another way, this would have the same effect as bringing down the real investment growth from 2.4% a year to 1.3% a year.

12 12 STAKEHOLDER PENSION KEY FEATURES EXAMPLE ILLUSTRATION OF BENEFITS FOR A 45 YEAR OLD TRANSFERRING 10,000 INTO A PLAN WITH A RETIREMENT AGE OF 65 PREPARED FOR: Age: 45 exactly PLAN BASIS: The plan is invested in the Multi-Asset Fund. Please see the What are the charges? section on page 6 for assumptions about our charges. All of the transfer payment will be invested in the plan, that is no charges are deducted before we invest the transfer payment. WHAT MIGHT THE BENEFITS BE WORTH? Assumed investment return: Low real growth rate (-0.5% a year) Mid real growth rate (2.4% a year) High real growth rate (5.4% a year) Total projected pot of: 7,270 12,900 23,000 This could provide a full pension for your lifetime of: 274 a year 642 a year 1,430 a year OR a tax-free cash sum of: 1,810 3,240 5,750 Plus a pension for your lifetime of: 206 a year 481 a year 1,070 a year When a negative (-) sign is shown in front of a growth rate it means that the assumed return of the investment will not keep pace with inflation. In other words the buying power will decrease. Please remember that these are only examples and are not guaranteed they are not minimum or maximum amounts. You may get back more or less than this. EFFECT OF CHARGES The table below sets out what the value of your pension pot might be if you were to transfer it to a different pension scheme, at the end of the periods shown. The early years: WARNING The charges mean the transfer value could be less than the transfer payment paid in. The last two columns assume the mid real growth rate of 2.4% a year taking into account inflation. At end of year Total paid in to date Effect of deductions to date What the transfer value might be 1 10, , , , , , , , , ,600 The later years: At end of year Total paid in to date Effect of deductions to date What the transfer value might be 10 10,000 1,430 11, ,000 2,240 12,100 Final 10,000 3,190 12,900 What are the deductions for? The deductions include expenses, charges and other adjustments. The last line in the table shows that over the full term of the contract, the effect of the total deductions could amount to 3,190. Putting it another way, this would have the same effect as bringing down the real investment growth from 2.4% a year to 1.3% a year.

13 STAKEHOLDER PENSION KEY FEATURES 13 EXAMPLE ILLUSTRATION OF BENEFITS FOR A 50 YEAR OLD TRANSFERRING 15,000 INTO A PLAN WITH A RETIREMENT AGE OF 65 PREPARED FOR: Age: 50 exactly PLAN BASIS: The plan is invested in the Multi-Asset Fund. Please see the What are the charges? section on page 6 for assumptions about our charges. All of the transfer payment will be invested in the plan, that is no charges are deducted before we invest the transfer payment. WHAT MIGHT THE BENEFITS BE WORTH? Assumed investment return: Low real growth rate (-0.5% a year) Mid real growth rate (2.4% a year) High real growth rate (5.4% a year) Total projected pot of: 11,900 18,500 28,300 This could provide a full pension for your lifetime of: 461 a year 928 a year 1,780 a year OR a tax-free cash sum of: 2,990 4,630 7,080 Plus a pension for your lifetime of: 346 a year 696 a year 1,330 a year When a negative (-) sign is shown in front of a growth rate it means that the assumed return of the investment will not keep pace with inflation. In other words the buying power will decrease. Please remember that these are only examples and are not guaranteed they are not minimum or maximum amounts. You may get back more or less than this. EFFECT OF CHARGES The table below sets out what the value of your pension pot might be if you were to transfer it to a different pension scheme, at the end of the periods shown. The early years: WARNING The charges mean the transfer value could be less than the transfer payment paid in. The last two columns assume the mid real growth rate of 2.4% a year taking into account inflation. At end of year Total paid in to date Effect of deductions to date What the transfer value might be 1 15, , , , , , , , , ,000 The later years: At end of year Total paid in to date Effect of deductions to date What the transfer value might be 10 15,000 1,810 17,200 Final 15,000 2,990 18,500 What are the deductions for? The deductions include expenses, charges and other adjustments. The last line in the table shows that over the full term of the contract, the effect of the total deductions could amount to 2,990. Putting it another way, this would have the same effect as bringing down the real investment growth from 2.4% a year to 1.3% a year.

14 14 STAKEHOLDER PENSION KEY FEATURES OTHER INFORMATION. LAW AND LANGUAGE This contract is governed by English law. The terms and conditions and all communications will only be available in English. All communications from us will normally be by letter or telephone. OUR REGULATOR Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. We re entered on the Financial Services Register under number You can check this at or you can call COMPENSATION If Legal & General is unable to meet its obligations, you may be entitled to compensation under the Financial Services Compensation Scheme (FSCS). This depends on the type of business and the circumstances of the claim. Currently, 100% of the value of a valid claim will be covered by the scheme. There is no upper financial limit on the claim. You can get further information from the FSCS on their website at HOW TO COMPLAIN If you wish to complain about any aspect of the service you have received from Legal & General, or if you would like us to send you a copy of our internal complaint handling procedure, please contact us using the details set out in the Contacting us section on page 2. Complaints about our administration that we cannot resolve can initially be referred to: The Pensions Advisory Service 11 Belgrave Road London SW1V 1RB and it may then be referred to: Pensions Ombudsman Service 11 Belgrave Road London SW1V 1RB Sales related complaints that we cannot resolve can be referred to: The Financial Ombudsman Service Exchange Tower Harbour Exchange Square London E14 9SR Making a complaint to Legal & General, The Pensions Advisory Service or The Financial Ombudsman Service won t affect your legal rights.

15 STAKEHOLDER PENSION KEY FEATURES 15 CONFLICTS OF INTEREST During the term of your plan, conflicts of interest may arise between you and us, our employees, our associated companies or our representatives. A conflict of interest is where our duties to you as a customer may conflict with what is best for ourselves. To ensure we treat customers consistently and fairly, we have a policy on how to identify and manage these conflicts. A copy of the policy is available on request from the address shown in the Contacting us section on page 2. CUSTOMER CATEGORY There are various categories of client set out in the financial regulations. If you buy this Legal & General product, we will treat you as a retail client. Being a retail client gives you the greatest level of protection under the regulations and ensures you get full information about any products you buy. If, under the regulations, you are a professional client or eligible counterparty, we will still treat you as a retail client although this would not necessarily mean that you would be eligible to refer any complaints to The Financial Ombudsman Service or to make a claim under the Financial Services Compensation Scheme.

16 16 STAKEHOLDER PENSION KEY FEATURES Legal & General Assurance Society Limited Registered in England and Wales No Registered office: One Coleman Street, London EC2R 5AA Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. W /

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