Ceridian Futures Retirement Plan
|
|
- Britney Jacobs
- 8 years ago
- Views:
Transcription
1 Ceridian Futures Retirement Plan Summary of Benefits Summary of Benefits Ceridian Futures Retirement Plan 1
2
3 Summary of Benefits Introduction Who is eligible? How the Plan works Contributions The Ceridian Futures Retirement Plan (the Plan ) provides a tax efficient way for you to save for your retirement. This leaflet is intended to give you a summary of the main benefits provided through the Plan. This should be read in conjunction with the Member Booklet provided in your pack. Please note, however, that this summary takes precedent over the Booklet if there is a conflict. All full or part time employees who are not already members of a Qualifying Pension Scheme will be assessed for automatic enrolment and, if eligible*, will be automatically enrolled into the Plan on the first day of the month following two complete calendar months of service. If you do not qualify through auto enrolment assessment, or want to become a member earlier, you can join the Plan from the first day of the month following commencement of employment. *You are eligible for auto enrolment if you are: not already a member of a qualifying workplace pension scheme with your employer; aged 22 to State Pension Age (SPA) earning more than 9,440 per annum ( ); working, or if you ordinarily work, in the UK. The Plan works in a straightforward way. Contributions are invested through the Plan into your individual account. You will be sent annual statements showing the value of your individual account and you can view your account online at any time. At retirement, the value of your individual account (a combination of contributions and return on investments less annual charges) will be used to purchase retirement benefits. The Plan operates on a salary sacrifice basis where, instead of contributing directly, an equivalent amount is sacrificed from your salary and paid by the Company to the Plan. You will receive full tax relief at source under this arrangement. It is possible to opt-out of the salary sacrifice arrangement. If you have done so, you will automatically receive tax relief on any contributions you make at your highest marginal rate, because contributions are deducted from your gross salary before tax is deducted. Employer contribution (%) Employee contribution (%)* Auto enrolment legislation says that contributions will increase over time, therefore: From October 2017 the minimum employee contribution will be 3%. From October 2018 the minimum employee contribution will be 5%. Summary of Benefits Ceridian Futures Retirement Plan 1
4 Contributions (cont.) Investing your Contributions Charges under the Plan Viewing your Account What if I leave the Plan? Additional Voluntary Contributions (AVCs) You can pay AVCs to boost your retirement savings. The AVCs are member contributions but are not matched by the Company. You will, however, still be entitled to tax relief at your highest marginal rate on the AVCs paid, subject to the restrictions imposed by the Annual Allowance (see Useful terms ). Your contributions are invested through the Plan. They are paid into your personal account and you then choose how your individual account is invested using a range of investment options selected by the Trustee Company of the Plan. More detail can be found in the Investment Options leaflet which also sets out some of the things you should consider when deciding how to invest your funds. A brief summary is provided below. Lifestyle A choice of three Lifestyle options is available. Put simply, Lifestyle aims to provide you with a good long-term rate of investment return over the majority of your working life, whilst aiming to protect the value of your savings as you near retirement. Your contributions will initially be invested in the DC Cash Fund while you have the option to opt-out of the Plan and will then be invested in the default investment option, Balanced Lifestyle, with a target retirement age of 65. You may subsequently choose a different target retirement age provided it is not less than age 55. This is not a recommendation and a Lifestyle Option may not be right for you. Self Select This option is available for employees who wish to make their own investment decisions. There is a range of nine funds which you may choose from. Full details of both the Lifestyle and Self Select options can be found in the Investment Options guide and you can change your investment choice at any time after joining the Plan, or after your opt out period if applicable, by contacting BlackRock online, by phone or by . An Annual Management Charge ( AMC ) is applied to your fund. The AMC is the cost of having your assets professionally managed. The fee pays the manager to select which investment your money (along with that of the other investors in the fund) is invested into. If a fund invests in a collective investment scheme it will also bear its share of the costs of other services, such as the fees paid to the trustee/depositary, custodian, auditors and registrar. An estimate of these charges is shown under Additional Expenses in the Investment Options guide. Once you have been enrolled, you will be provided with an Account number and, under separate cover, a password. This will enable you to login to your Account via blackrock.co.uk/blackrock-pensions/ceridian This secure site will enable you to get up to date details of your Account and carry out transactions online; such as view the value of your Account; change contribution levels; switch investments and use the Target Plan modeller. Leaving the Plan during the opt-out period If you do not wish to remain a member of the Plan you are able to opt out during the opt-out period. You will receive a refund of the contributions you paid into the Plan, including the value of any paid via Salary Sacrifice. Leaving the Plan before retirement and after the opt-out period If you have been a member for two or more years you will have a choice of either transferring your total fund value to another registered pension scheme, providing they are willing to accept it, or retaining your fund in the Plan until you decide to draw your benefits. If you cease to be a member between three months and two years, you will have a choice of either receiving a refund of the current value of the units purchased by your own contributions (but not those paid via Salary Sacrifice), or transferring your account to a new employer s scheme, or to a personal or stakeholder pension. If you cease to be a member between the end of the opt-out period but before 3 months membership, you will receive a refund of the current value of the units purchased by your own contributions (but not those paid via Salary Sacrifice). If you want to transfer your account to another scheme or insurance policy, you must contact BlackRock. If you do not contact BlackRock within three months of leaving then you will receive as refund as above. 2 Summary of Benefits Ceridian Futures Retirement Plan
5 What happens at Retirement Death Benefits You can take your benefits any time after the age of 55. When you are close to your target retirement age, BlackRock will provide you with information on the options available to you to help you with your decision as to what you want to do with your fund. You will be provided with details of an annuity service selected by the Trustee Company, and their aim is to seek the most competitive annuity rates available at which to buy your annuity (pension) to help maximise your pension benefits at retirement. The cost of purchasing your annuity (pension) will be made against your fund or can be paid by you directly, but will not be met by the Trustee Company or your employer. You have the legal right to shop around for the highest annuity income rates and the options that best suit you this is called the open market option. The annuity options you finally choose will be dependent on your own personal circumstances. In addition to a pension for yourself, you may be able to select one or more of the following: the option to give up part of your pension for a tax-free lump sum; a level pension or a pension with annual increases; a pension for your spouse, civil partner or other dependant in the event of your death; ` ` a guarantee period, where your spouse, civil partner or dependant would be paid the balance of any pension payments if you die within the guarantee period (which may be up to ten years). Other ways to take benefits at retirement You do not need to buy an annuity at retirement. One alternative is known as Income drawdown which is the name given to the facility where you continue to keep your retirement savings invested and take an income each year rather than buy an annuity. This option is not available through the Plan, but you may transfer the value of your benefits to another pension arrangement at retirement where income drawdown is offered. You are recommended to seek independent financial advice if you are interested in this option. You should be aware that your benefits at retirement from all UK registered pension arrangements are subject to the Lifetime Allowance. If total benefits exceed the Lifetime Allowance (see Useful terms ), tax charges may apply to the excess benefits. From Ceridian not the Plan If you die while you are employed by the Company, please refer to your contract of employment for details of any life assurance benefits that might become payable to your dependants. From the Plan In the event of your death before retirement, the value built up in your Account would become available as a lump sum payment. You should complete and return to BlackRock, at the address overleaf, the Nomination Form provided by BlackRock in the Welcome Pack which identifies the person(s) you wish to nominate to receive any benefits from the Plan that may become payable on your death. Benefits will be paid at the discretion of the Trustee Company. Summary of Benefits Ceridian Futures Retirement Plan 3
6 Trust Deed and Rules The Plan is a registered scheme under the terms of the Finance Act This results in valuable tax relief on pension contributions. To gain and keep its registered status, the Plan has to conform with requirements set down by HMRC and tax laws. The Plan is governed by its Trust Deed and Rules. The assets of the Plan are independent from the Company and can be used only for benefit purposes described within the rules of the Plan. Your benefits are governed by these documents together with the Plan Benefit Annex. Anyone entitled to benefits from the Plan (whether a member or a member s dependant) who would like to inspect the documents should contact BlackRock at the contact details below. In the event of conflict between this booklet and the Trust Deed and Rules, the latter will apply. The Trustee Company is Independent Trustee Services Limited and is independent from the Company and BlackRock. The Company may amend or alter the benefits provided under the Plan at any time, provided such an action does not impair certain rights of participants accrued under the Plan at such time. The Company may also terminate the Plan. If you have any questions about the Plan, please contact BlackRock at the contact details below. For more information: Website: blackrock.co.uk/blackrock-pensions/ceridian Telephone: uk.ops@blackrock.com Address: BlackRock Employee Savings Service Centre PO Box 704 Peterborough PE1 1WL Useful terms Annual Allowance The Annual Allowance is the maximum amount of pension savings that you can build up in a year without incurring a tax charge. Savings made by you and also those made on your behalf, for example by the Company, count towards the Annual Allowance. The Annual Allowance is set at 50,000 until 5 April From 6 April 2014, it is set to be reduced to 40,000. Savings in excess of the Annual Allowance may be subject to an Annual Allowance Charge. Auto Enrolment Auto enrolment (also called AE or workplace savings ) is a new approach to pension saving that was introduced in October Starting with the largest, but eventually being rolled out to cover any employer of any size, the Government now requires every employer to enrol their employees into a workplace pension scheme that meets new legal standards known as a qualifying scheme. Employees who meet certain conditions will automatically be enrolled into a qualifying workplace pension. If you are: not already a member of a qualifying workplace pension scheme with your employer aged 22 to State Pension Age (SPA) earning more than 9,440 per annum ( ) working, or if you ordinarily work, in the UK You will be automatically enrolled into your employer s qualifying workplace pension in this case, the Plan. More information can be found at: gov.uk/work-placepensions 4 Summary of Benefits Ceridian Futures Retirement Plan
7 Company Company Contributions Individual Account Jobholders Lifetime Allowance Member Contributions Normal Retirement Age Pension Input Period ( PIP ) Pensionable Pay Qualifying Earnings Trustee Company Ceridian and any affiliated company whose employees are admitted to the Plan. Contributions paid by the employer in addition to Member Contributions that you would have paid if you were not part of the salary sacrifice arrangement. An Account set up in your name to which contributions are paid. Your category of jobholder determines whether or not you are eligible for auto enrolment; have a right to opt in; or have a right to join: Eligible jobholders must be auto enrolled Aged 22 to State Pension Age Working in UK Earning above 9,440 ( ) Non-eligible jobholders have a right to opt in Aged 16 to 21 or State Pension Age to 74 Working in UK Earning above 9,440 (2013/14) OR Aged Working in UK Earning above 5,668 but below 9,440 ( ) Entitled workers have a right to join Aged Working in UK Earning below 5,668 The total value of retirement benefits from all UK registered pension arrangements you can draw before tax penalties apply. The Lifetime Allowance is 1.5 million until 5 April 2014 when it is set to be reduced to 1.25 million. It is recommended that you seek independent financial advice if you believe you may be affected by this. The contributions you will pay to the Plan if you are not part of the salary sacrifice arrangement, otherwise any such contributions will be paid by the Company under the salary sacrifice arrangement. 65th birthday. The period used for measuring the increase in your pension benefits against the Annual Allowance for tax relief purposes. Please note that the PIP for the Plan is 6 April to 5 April each year. Any contributions you make to the Plan during any PIP will count toward the Annual Allowance applicable to that tax year. In the case of the Plan, pensionable pay is defined as basic salary. These are total earnings as determined by the Company and may include the following, if an individual is in receipt of them: salary, wages, commission, bonuses, overtime, statutory sick pay, statutory maternity, paternity and adoption pay. To qualify for auto enrolment, your earnings must be more than 9,440 for the tax year Both your contributions and those from the Company are then based on earnings between 5,668 and 41,450 for the tax year Independent Trustee Services Ltd ( ITS ) Summary of Benefits Ceridian Futures Retirement Plan 5
8 BlackRock is a premier provider of asset management, risk management, and advisory services to institutional, intermediary, and individual clients worldwide. We manage assets in separate accounts, mutual funds, other pooled investment vehicles, and the industry-leading ishares exchange-traded funds. Through BlackRock Solutions, we offer risk management and advisory services that combine capital markets expertise with proprietarily developed analytics, systems and technology. BlackRock serves clients in North and South America, Europe, Asia, Australia, Africa, and the Middle East. We maintain offices in 30 countries around the world. Information regarding the eligibility, contribution arrangements and other non pension benefits have been accepted in good faith from Ceridian. No responsibility can be accepted by BlackRock for any errors, omissions or inaccuracies in the information provided or for any loss or damage that may result from reliance being placed upon it. Past performance is not a guide to future performance. The value of investments and the income from them can fluctuate and are not guaranteed. Investors may not get back the amount invested. Rates of exchange may cause the value of investments to go up or down. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Any objective or target will be treated as a target only and should not be considered as an assurance or guarantee of performance of a fund or any part of it. A fund s objectives and policies include a guide to the main investments to which a fund is likely to be exposed but a fund is not necessarily restricted to holding these investments only. Subject to a fund s objectives, a fund may hold any investments and utilise any investment techniques, including the use of derivatives, permitted under the FCA s Conduct of Business Sourcebook which contains the rules by which investment of the funds is governed. The BlackRock Life Limited notional fund units have a single unit price. The unit prices are normally calculated on each business day. For performance reporting, notional units are valued at special closing prices on the last working day of each quarter to enable comparison with the relevant benchmark index. This document relates to the products of, and is issued by, BlackRock Life Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. BlackRock Life Limited, 12 Throgmorton Avenue, London EC2N 2DL. Phone: Fax: Registered in England number BlackRock is a trading name of BlackRock Life Limited. Contact Details Website: blackrock.co.uk/blackrock-pensions/ceridian Telephone: uk.ops@blackrock.com Address: BlackRock Employee Savings Service Centre, PO Box 704, Peterborough PE1 1WL. Splash/221263/Nov 13
The Plan for Your Future
The TJX UK Pension Plan The Plan for Your Future Pension Booklet 2 P age Welcome to the TJX UK Pension Plan To look after your financial future, you need to take a little time out of your present. Setting
More informationO P Q RETIREMENT & DEATH BENEFITS PLAN. For Employees of The OPQ Company MEMBERS' BOOKLET
O P Q RETIREMENT & DEATH BENEFITS PLAN For Employees of The OPQ Company MEMBERS' BOOKLET 2014 EDITION Reviewed January 2014 INTRODUCTION This booklet is an overview of the main benefits and conditions
More informationpension benefits for new employees
February 2013 pension benefits for new employees University of Newcastle upon Tyne Retirement Benefits Plan Saving for your future with help from the University At Newcastle University, we are committed
More informationNATS Defined Contribution Pension Scheme. Performance through Innovation
NATS Defined Contribution Pension Scheme Performance through Innovation 1 Introduction This Booklet is intended to explain the main details of the NATS Defined Contribution Pension Scheme the Scheme. It
More informationAdditional Voluntary Contributions (AVCs)
AVCs FINAL SALARY SECTION Important Note: With effect from 1st November 2015, no new Added Years AVC arrangements will be permitted. Existing contracts will not be affected by this change. Additional Voluntary
More informationGLOBAL AEROSPACE UNDERWRITING MANAGERS PENSION SCHEME. Defined Contribution Section
GLOBAL AEROSPACE UNDERWRITING MANAGERS PENSION SCHEME Defined Contribution MEMBER'S HANDBOOK May 2012 CONTENTS Clause Page INTRODUCTION... 3 Explanation of terms and expressions used in this booklet...
More informationA Guide to the Local Government Pension Scheme (LGPS) in Scotland
A Guide to the Local Government Pension Scheme (LGPS) in Scotland April 2016 1 1. Introduction 4 2. How the LGPS changed on 1 April 2015 5 3. About the Local Government Pension Scheme (LGPS) 9 Who runs
More informationActive Money Personal Pension Key Features
Active Money Personal Pension Key Features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is the independent financial services regulator.
More informationG4S Personal Pension Plan Employee Guide
G4S Personal Pension Plan Employee Guide Expiry 05/04/16 Section Page number Introduction 1 Contacts 1 What the Plan can offer you 2 How does the Plan work? 3 Contribution levels 4 Contribution limits
More informationKey Features of the Local Government Additional Voluntary Contributions (AVC) Scheme for England & Wales
Key Features of the Local Government Additional Voluntary Contributions (AVC) Scheme for England & Wales Important information you need to read The Financial Conduct Authority is an independent financial
More informationGroup Additional Voluntary Contributions Plan Key features
Group Additional Voluntary Contributions Plan Key features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a financial services regulator.
More informationFree Standing Additional Voluntary Contributions Plan Key Features
Free Standing Additional Voluntary Contributions Plan Key Features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a financial services regulator.
More informationA Guide to the Local Government Pension Scheme for Employees in England and Wales. Hampshire Pension Fund
A Guide to the Local Government Pension Scheme for Employees in England and Wales Hampshire Pension Fund Employees in England and Wales April 2014 Index 1. About this Booklet 2. About the Local Government
More informationMerchant Navy Officers Pension Plan
MNPA merchant A4 20pp_v5_aw 19/9/07 17:31 Page 1 @ Your benefits explained September 2007 MNPA merchant A4 20pp_v5_aw 19/9/07 17:31 Page 2 @ 00/01 Contents 01 Some terms you need to know 00/01 Some terms
More informationGroup Flexible Retirement Plan Key features
Group Flexible Retirement Plan Key features This is an important document. Please read it and keep it for future reference. Key features document: Pages 1 21 Terms and conditions for joining: Pages 22
More informationKey Features Document
Keyfacts Key Features Document Transact Section 32 Buy Out Bond IntegraLife UK Limited A firm authorised and by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and
More informationRetirement. This factsheet sets out the circumstances under which you may retire and receive a pension from USS.
RETIREMENT FINAL SALARY SECTION Retirement This factsheet sets out the circumstances under which you may retire and receive a pension from USS. From what age can I receive my retirement benefits from USS?
More informationPay, benefits and time off. Nationwide Pension Fund
Pay, benefits and time off Nationwide Pension Fund Your CARE terms explained from 1 April 2011 Contents Page How to contact us 3 Introduction and key features 4 Terms you need to know 5 Contributing to
More informationDover Harbour Board Pension and Life Assurance Scheme (1973) Your Guide
Dover Harbour Board Pension and Life Assurance Scheme (1973) Your Guide April 2014 Definitions Definitions The guide uses certain words that may need further explanation. These are shown below to help
More informationTRUSTEE TRANSFER PLAN Policy Document
TRUSTEE TRANSFER PLAN Policy Document [2] POLICY DOCUMENT TRUSTEE TRANSFER PLAN Contents 1. Introduction 4 2. Payments to us 6 3. Charges 7 4. Benefits payable under the Policy 8 5. Investments under the
More informationThe Personal Range Key Features of the Individual Personal Pension Transfer Value Account
The Personal Range Key Features of the Individual Personal Pension Transfer Value Account Reference MPEN11/F 07.15 The Financial Conduct Authority is a financial services regulator. It requires us, Friends
More informationretirement planning the retirement you want Heineken UK Flexible Retirement Plan
my retirement planning the retirement you want Heineken UK Flexible Retirement Plan Contents Get an overview of the Heineken UK Flexible Retirement Plan What is the Flexible Retirement Plan? 4 Your benefits
More informationKey Features. of the Suffolk Life SIPP (Deed Poll Scheme)
Key Features of the Suffolk Life SIPP (Deed Poll Scheme) This document is part of a set, all of which should be read together. Key Features Your Personal Illustration Schedule of Fees Schedule of Allowable
More informationyour benefits in detail
Booklet 2 BASF UK Group Pension Scheme (DC section) Your member guide your benefits in detail 1 October 2015 Inside this guide: Benefits when you retire 4 If you die in service 8 If you die after taking
More informationUniversity of Reading Pension Scheme
Human Resources University of Reading Pension Scheme Investing for Retirement Introduction After deciding how much to save for retirement, where to invest the contributions that you and the University
More informationHow To Buy A Partnership Pension Annuity
Helping you decide The Financial Conduct Authority is a financial services regulator. It requires us to give you this important information to help you to decide whether our Pension Annuity is right for
More informationwww.civilservice-pensions.gov.uk
www.civilservice-pensions.gov.uk This booklet is published by Civil Service Pensions. Crown Copyright June 2008 Printed by St Ives Direct PPA-1 partnership pension account Contents partnership pension
More informationA Guide for Members who join on or after 1 January 2013
Business. Empowered. CAMBRIDGE & your pension benefits Cambridge University Assistants Contributory Pension Scheme (CPS) Hybrid Section Key information A Guide for Members who join on or after 1 January
More informationTHE XYZ Pension and Life Assurance Scheme. Members Booklet January 2014 Edition. For Employees of the XYZ Company
THE XYZ Pension and Life Assurance Scheme Members Booklet January 2014 Edition For Employees of the XYZ Company Reviewed January 2014 CONTENTS Page 3 INTRODUCTION 4 TERMS USED IN THIS BOOKLET 7 GENERAL
More informationRetirement Account Plan Key features
Retirement Account Plan Key features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a financial services regulator. It requires us, Standard
More informationYOUR GUIDE TO RETIREMENT
YOUR GUIDE TO RETIREMENT www.phoenixlife.co.uk CONTENTS Page Purpose of this guide 3 Your pension options - Buying your pension income (annuity) from us 4 Your pension options - Buying your pension income
More informationElite Retirement Account TM
Elite Retirement Account TM Key Features of the Elite Retirement Account The Elite Retirement Account (ERA) is a Self Invested Personal Pension (SIPP). A SIPP is a personal pension that allows you greater
More informationSHELL CONTRIBUTORY PENSION FUND. Additional Voluntary Contributions Arrangement Explanatory Book
SHELL CONTRIBUTORY PENSION FUND Additional Voluntary Contributions Arrangement Explanatory Book July 2013 CONTENTS 1 Introduction 3 2 What are AVCs? 7 Why pay AVCs? 10 How do AVCs work? 12 What options
More informationKEY FEATURES OF YOUR BUYOUT BOND ILLUSTRATION KEY FEATURES. and Conditions, available from your financial adviser.
00000 Old Mutual Wealth Life Assurance Limited is a provider of long-term life assurance. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential
More informationLimits to tax relief and tax-free benefits
TAX LIMITS FINAL SALARY AND CAREER REVALUED BENEFITS SECTIONS Limits to tax relief and tax-free benefits Introduction Pension benefits accrued by individuals in the UK which qualify to receive tax relief
More informationA Short Guide to the LGPS The Local Government Pension Scheme (LGPS)
AVON PENSION FUND A Short Guide to the LGPS The Local Government Pension Scheme (LGPS) Highlights of the Local Government Pension Scheme (LGPS) The LGPS gives you: Secure benefits the scheme provides you
More informationA guide to pension tax
A guide to pension tax Footer info Zurich Blue 2 or White Contents About this guide 3 Tax treatment of payments 4 Eligibility to receive tax relief on payments Tax relief on payments made to pension schemes
More informationPensions - Tax Reliefs
Pensions - Tax Reliefs Types of pension schemes There are two broad types of pension schemes from which an individual may eventually be in receipt of a pension: Occupational schemes Personal Pension schemes.
More informationCAMBRIDGE COLLEGES FEDERATED PENSION SCHEME A GUIDE FOR MEMBERS AT ST JOHN S COLLEGE
CAMBRIDGE COLLEGES FEDERATED PENSION SCHEME A GUIDE FOR MEMBERS AT ST JOHN S COLLEGE How the Scheme is run Why you should join State pensions Auto-enrolment Membership Cost Who can become a member? What
More informationPreparing for 6 April 2015 Are you ready for Question Time?
Are you ready for Question Time? Background The new flexible pension regime will come into effect on 6 April 2015 There is already extensive press coverage of the changes In understanding the changes it
More informationpartnership pension account A guide to available benefits
partnership pension account A guide to available benefits Contents partnership pension account 3 Paying into your pension 4 Choosing your pension fund 8 How to open a partnership pension account 13 Leaving
More informationThe Importance of Auto Enrolment
autolite AutoLite has been created with one objective to provide a complete solution to employers with their duties and obligations under the Pension Automatic Enrolment rules... 2 About us At IFS we combine
More informationCAMBRIDGE COLLEGES FEDERATED PENSION SCHEME A GUIDE FOR MEMBERS AT WOLFSON COLLEGE
CAMBRIDGE COLLEGES FEDERATED PENSION SCHEME A GUIDE FOR MEMBERS AT WOLFSON COLLEGE How the Scheme is run Why you should join State pensions Auto-enrolment Membership Cost Who can become a member? What
More informationGENERAL DYNAMICS UNITED KINGDOM RETIREMENT AND DEATH BENEFIT SCHEME BOOKLET
GENERAL DYNAMICS UNITED KINGDOM RETIREMENT AND DEATH BENEFIT SCHEME BOOKLET May 2010 1 INTRODUCTION At a time when we are living longer and the State is reducing its commitment to provide pensions for
More informationTHE XYZ Pension and Life Assurance Scheme. Members Booklet April 2015 Edition. For Employees of the XYZ Company
THE XYZ Pension and Life Assurance Scheme Members Booklet April 2015 Edition For Employees of the XYZ Company Reviewed May 2015 1 CONTENTS Page 3 INTRODUCTION 4 TERMS USED IN THIS BOOKLET 8 GENERAL 9 CONTRIBUTIONS
More informationPENSIONS REFORM 6 APRIL 2015 YOUR QUESTIONS ANSWERED.
PENSIONS REFORM 6 APRIL 2015 YOUR QUESTIONS ANSWERED. Following Government changes effective on 6 April 2015, there are different ways for anyone over 55 to access their defined contribution pension pots
More informationMETLIFE Group Life (INCLUDING FLEXIBLE BENEFITS) Technical Guide
METLIFE Group Life (INCLUDING FLEXIBLE BENEFITS) Technical Guide 1 MetLife Group Life Policies Technical Guide MetLife has a range of policies aimed to meet your life cover needs in respect of your employees
More informationIt s flexible. Key features of the Flexible Income Annuity. Flexible Income Annuity
It s flexible Key features of the Flexible Income Annuity Flexible Income Annuity This is an important document and you should read it before deciding whether to buy your pension annuity from us Purpose
More informationThe Retirement Account
The Retirement Account Key Features This is an important document and you should read it before deciding whether to buy your Retirement Account from us Purpose of this document This Key Features booklet
More informationKey Features of the NHS Additional Voluntary Contributions (AVC) Scheme
Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme Important information you need to read The Financial Conduct Authority is a financial services regulator. It requires us, Prudential,
More informationSuperannuation and Life Assurance Scheme. Members booklet 2008
Superannuation and Life Assurance Scheme Members booklet 2008 Contents Member Booklet 2008 Contents Introduction 3 Definitions 4-5 Leaving pensionable service If you are a qualifying member 12 If you are
More informationAn Explanation of Pension Terms
abcdef An Explanation of Pension Terms Pension Term / Name Annual allowance Annuitant Annuity Bonuses Commutation Commutation for Smaller Pension Funds 10,000 or less Also Known or Previously Known As
More informationLIFE COVER - PROTECTION FOR YOUR FAMILY
LIFE COVER - PROTECTION FOR YOUR FAMILY The LGPS provides valuable life cover and financial protection for your family. Where pension terms are used, they appear in bold italic type. These terms are defined
More informationKey Features of the Ascentric Pension Account (SIPP)
Key Features of the Ascentric Pension Account (SIPP) Introduction The Financial Conduct Authority is a financial services regulator. It requires us, Investment Funds Direct Limited (IFDL), to give you
More informationImportant information. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme
Important information Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme > Contents About this booklet 4 About the Teachers AVC Scheme 5 Its aim 5 Your commitment 5 Risks 6 Questions
More informationBI Horizon Pension Plan
BI Horizon Pension Plan Geoff Hallett October 2013 Note: We cannot provide individual financial planning advice FOR FINANCIAL PROFESSIONAL USE ONLY NOT FOR PUBLIC DISTRIBUTION BI Horizon Pension Plan 1.
More informationMembers booklet Defined Contribution Section Retirement Account (Applicable to those who are a member of the 100+ section)
Members booklet Defined Contribution Section Retirement Account (Applicable to those who are a member of the 100+ section) From 1 October 2015 GKN Group Pension Scheme 2012 GKN Group Pension Scheme 2012
More informationLimits to tax relief and tax-free benefits
TAX LIMITS FINAL SALARY AND CAREER REVALUED BENEFITS SECTIONS Limits to tax relief and tax-free benefits Introduction Pension benefits earned by individuals in the UK which qualify to receive tax relief
More informationPayment of retirement benefits (OUSS)
PAYMENT OF BENEFITS FINAL SALARY SECTION Payment of retirement benefits (OUSS) For former Open University Superannuation Scheme members. Introduction This factsheet applies to you if you were formerly
More informationSCHEME AND SERVICE INFORMATION
SCHEME AND SERVICE INFORMATION 0808 1001613 www.fsbworkplacepensions.co.uk 1 Workplace Pensions are coming Workplace Pensions is the government initiative to increase private retirement savings. Auto enrolment
More informationPension benefits guide How you can use your pension pot to suit your needs
Pension benefits guide How you can use your pension pot to suit your needs axawealth.co.uk With the flexibility you have to take benefits through your pension, it can be difficult to know what s best for
More informationBuying a pension annuity
Buying a pension annuity Why do I need to think about buying a pension annuity? When you come to retire, you will have some important decisions to make. Probably most important of all is how you will generate
More informationHuman Resources HP Pension Scheme Booklet
The Hewlett-Packard Limited Pension Scheme (the HP Scheme) The HP Scheme is a money purchase pension arrangement provided through the company s Flexible Benefits Programme. Eligibility You are eligible
More informationImportant information. Key Features of the Flexible Retirement Plan (Personal Pension Plan with SIPP options)
Important information Key Features of the Flexible Retirement Plan (Personal Pension Plan with SIPP options) > Contents About this booklet 3 About our Flexible Retirement Plan 4 Who can take out a Flexible
More informationUsing your AVC to protect your loved ones. Life Assurance
Using your AVC to protect your loved ones Life Assurance > Of course, none of us want to die before we get to enjoy the freedom of retirement. But what if the worst did happen? You d want your loved ones
More informationLimits to tax relief and tax-free benefits
TAX LIMITS FINAL SALARY AND CAREER REVALUED BENEFITS SECTIONS Limits to tax relief and tax-free benefits Introduction Pension benefits earned by individuals in the UK, which qualify to receive tax relief,
More informationClose Brothers Self Directed Service Key Features and Charges
Close Brothers Self Directed Service Key Features and Charges Contents 1) Key Features of the Close Stocks & Shares ISA and Close Cash ISA 2) Key Features of the Close Investment Account 3) Key Features
More informationPension schemes Pension schemes under the new employer duties
Workplace pensions reform detailed guidance Pension schemes Pension schemes under the new employer duties 4 April 2013 v4.1 1 Employer duties and defining the workforce An introduction to the new employer
More informationPensions Tax Reliefs. 03333 219 000 advice@bishopfleming.co.uk. www.bishopfleming.co.uk
Pensions Tax Reliefs Types of pension schemes There are two broad types of pension schemes from which an individual may eventually be in receipt of a pension: Workplace pension schemes Personal Pension
More informationGuaranteed Annuity. Policy Terms & Conditions
Guaranteed Annuity Policy Terms & Conditions Your Guaranteed Annuity Policy The Guaranteed Annuity is a contract of insurance between you and us formed by: your signed application this policy booklet,
More informationGUIDE TO RETIREMENT PLANNING FINANCIAL GUIDE. Making the most of the new pension rules to enjoy freedom and choice in your retirement
GUIDE TO RETIREMENT PLANNING Making the most of the new pension rules to enjoy freedom and choice in your retirement FINANCIAL GUIDE WELCOME Making the most of the new pension rules to enjoy freedom and
More informationPensions Tax Reliefs
Our Vision Pensions Tax Reliefs To become the Best Provider of Solutions for Businesses in Coventry & Warwickshire Types of pension schemes There are two broad types of pension schemes from which an individual
More informationSELECT SIPP. Taking pension benefits guide
SELECT SIPP Taking pension benefits guide Please read this guide in conjunction with the Alliance Trust Savings Handbook and the appropriate Key Features documents. Alliance Trust Savings does not give
More informationA brief guide to The Local Government Pension Scheme. Employees in England and Wales April 2011
A brief guide to The Local Government Pension Scheme Employees in England and Wales April 2011 Highlights of the Local Government Pension Scheme (LGPS) The LGPS gives you: Secure benefits the scheme provides
More informationSelf Select Investment Guide move ahead
Self Select Investment Guide move ahead For members of The Barclays Bank UK Retirement Fund (the UKRF) 2 Self Select Investments move ahead Inside this guide Welcome to Self Select 2 Investments Choosing
More informationInformation about tax relief, limits and your pension
Information about tax relief, limits and your pension Published: August 2015 Laws and tax rules have changed in 2015. The information here is based on our understanding in August 2015. Your personal circumstances
More informationThe Personal Range Key Features of the Individual Personal Pension
The Personal Range Key Features of the Individual Personal Pension Reference MPEN11/A 04.16 The Financial Conduct Authority is a financial services regulator. It requires us, Friends Life and Pensions
More informationA guide for members RPS 60
A guide for members RPS 60 Disclaimer The information provided in this guide is intended for general information and illustrative purposes. Your benefits will be worked out in accordance with and subject
More informationGDC 1970 Pension and Life Assurance Plan
Item 12 Council 5 December 2013 GDC 1970 Pension and Life Assurance Plan Purpose of paper Action Public/Private Corporate Strategy 2013-15 Business Plan 2013 Decision Trail Recommendations Authorship of
More informationWhat are my Pension Options?
What are my Pension Options? The types of pension plans you can use to save for your retirement www.pensionsboard.ie www.pensionsboard.ie Verschoyle House 28/30 Lower Mount Street Dublin 2 Tel 01 613 1900
More informationTHE GREYFRIARS PREFERRED RETIREMENT ACCOUNT (GPRA) A SELF-INVESTED PERSONAL PENSION (SIPP) KEY FEATURES DOCUMENT
1. Introduction: Before you proceed with your SIPP we want you to be sure that you know what the decision will mean for you; what the plan is, how it works and what the risks are. This key features document
More informationKey features of the Home Retail Group Personal Pension Plan
Key features of the Home Retail Group Personal Pension Plan This is an important document which you should keep in a safe place. You may need to read it in future. Home Retail Group Personal Pension Plan
More informationDB Personal Pension Plan
Deutsche Bank Human Resources DB Personal Pension Plan Handbook for employees of DB Group Services (UK) Limited DB Personal Pension Plan Contents Introduction 4 What is the Group Personal Pension Flex?
More informationThe Local Government Pension Scheme (LGPS) in England and Wales
The Local Government Pension Scheme (LGPS) in England and Wales The Scheme This is a short description of the conditions of membership and main scheme benefits that apply under the LGPS. What kind of scheme
More informationRETIREMENT ANNUITY TRUST SCHEMES (RATS)
FACT SHEET RETIREMENT ANNUITY TRUST SCHEMES (RATS) With only a limited number of retirement annuity contracts (RAC) and personal pension schemes (PPS) available in Guernsey, the popularity of RATS is growing
More informationTD Direct Investing A Guide to SIPPs
TD Direct Investing A Guide to SIPPs Introduction If you are considering investing for retirement, there are a number of ways to approach it. One way is to embark on the do it yourself (DIY) self investment
More informationLocal Government Pension Scheme. Summary Guide - April 2010. Hertfordshire Pension Fund
Local Government Pension Scheme Summary Guide - April 2010 Hertfordshire Pension Fund Local Government Pension Scheme Contents Page Number The Scheme 2 What do I pay? 4 Retirement 7 The Benefits 9 Protection
More informationYour Guide. to the Plumbing Industry Pension Scheme
Your Guide to the Plumbing Industry Pension Scheme Plumbing and Mechanical Services (UK) Industry Pension Scheme 2 Contents 3 Introduction 4 Meaning of Words Used 5 Joining the Scheme 6 Cost of Membership
More informationPLANNING THE RETIREMENT YOU WANT
PLANNING THE RETIREMENT YOU WANT Charlotte Supply Chain Graduate HEINEKEN UK Flexible Retirement Plan Contents A reminder of... How the Flexible Retirement Plan works 4 The benefits 6 Consider what you
More informationKey Features of the Prudential Personal Pension Scheme
Key Features of the Prudential Personal Pension Scheme Important information you need to read The Financial Conduct Authority is the independent financial services regulator. It requires us, Prudential,
More informationSIPP Key Facts. This is an important document which you should keep.
SIPP Key Facts! This is an important document which you should keep. 2 Key Facts of the Alliance Trust Savings SIPP The Financial Conduct Authority is the independent financial services regulator. It requires
More informationKingfisher Pension Scheme
Kingfisher Pension Scheme Money Purchase Section SMART PENSIONS GUIDE The Kingfisher Pension Scheme Money Purchase Section (the KPS-MP) has been set up by the Company to help you save for your retirement.
More informationThe Local Government Pension Scheme. Leaving the LGPS
The Local Government Pension Scheme Leaving the LGPS A guide to the options and benefits available to you when leaving the Local Government Pension Scheme (LGPS) Leaving the Local Government Pension Scheme
More informationKey Features of the Lifetime Annuity
from the Select Portfolio This is an important document which you should keep along with your personalised Illustration. S E L E C T Alico is a leading international life insurer with a unique heritage
More informationEarnie. Pension and OpenEnrol FAQ. Software Support - 01594 545022
Earnie Pension and OpenEnrol FA 1 Contents Worker Status... 4 What is the definition of a worker?... 4 What s the difference between a worker and an employee?... 4 Who do I need to automatically enrol?...
More informationInterContinental Hotels UK Pension Plan
InterContinental Hotels UK Pension Plan Pension Newsletter Defined Contribution (DC) Section Room for you March 2011 I m pleased to welcome you to our latest Pension Newsletter which has a new format,
More informationBusiness Support Centre
Business Support Centre A Guide to the Local Government Pension Scheme (LGPS) in England and Wales A Brief Guide This document is intended as a brief guide to new employees or employees considering membership
More informationPension Annuity. Key Features
Helping you decide The Financial Services Authority is the independent financial services regulator. It requires us to give you this important information to help you to decide whether our Pension Annuity
More informationKEY FEATurES of LEGAL & GEnErAL S PEnSIon AnnuITIES.
PEnSIon AnnuITIES KEY FEATurES of LEGAL & GEnErAL S PEnSIon AnnuITIES. Helping you make the right decisions for your future INsuRANCe. savings. INVesTMeNT MANAGeMeNT. 01 Key features of Legal & General
More informationPersonal Retirement Bond
Personal Retirement Bond Customer Guide This Customer Guide is to be read in conjunction with the Fund Guide. Introduction This guide applies to the Personal Retirement Bond. Zurich Life Assurance plc
More information