Credit Suisse Group (UK) Pension Fund Scheme Code: CSGP
Credit Suisse Group (UK) Pension Fund Scheme code: CSGP
Costs, charges and illustration as at 30/06/2021
The table of fund costs shows the charges that apply to the various investment options available to you through your pension scheme and the illustration shows how they could affect the growth of a pension plan.
Further information on your investment options can be found within your plan literature and fund factsheets. This can be found online at www.planviewer.co.uk. Further notes and assumptions used for these illustrations can be found further down the page.
Default Investment CSPF Drawdown Lifestyle Strategy
Time to retirement (in years) Total expense ratio Transaction cost Total cost
0 0.16% 0.02% 0.18%
3 0.15% 0.02% 0.17%
6 0.15% 0.02% 0.17%
9 0.14% 0.02% 0.16%
15 0.14% 0.03% 0.17%
20 0.14% 0.03% 0.17%
25 0.14% 0.03% 0.17%
30 0.14% 0.03% 0.17%
40 0.14% 0.03% 0.17%
50 0.14% 0.03% 0.17%
Fund/Lifestyle Strategy Cost Notes
1 Total Expense Ratio combines the annual management charges and other expenses (such as auditing and registry fees) 2 Transaction costs are a by-product of buying and selling a fund’s underlying investments in order to achieve their investment objective and to raise or invest cash to satisfy client requirements. 3 Total cost means the Total Expense Ratio plus all fund transaction costs. 4 Costs shown as N/A (not available) means that the charge for this fund has not been made available by the underlying fund provider(s). FIL Life Funds invest directly into underlying funds managed by Fidelity and third party fund providers. 5 For Lifestyle Strategies the time to retirement relates to the period to a member's selected retirement age, or if not selected the plan's normal retirement age.
Page 1 Example of the effect of costs on an average member's investments
Effect for a member 50 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,045,403 £1,016,669 £1,272,053 £1,232,298 £226,650 £215,630
40 £1,598,886 £1,538,679 £1,887,296 £1,808,544 £288,410 £269,865
50 £2,250,616 £2,141,276 £2,609,064 £2,471,034 £358,447 £329,758
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 40 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,045,403 £1,016,669 £1,272,053 £1,232,298 £226,650 £215,630
40 £1,562,724 £1,503,414 £1,844,414 £1,766,899 £281,690 £263,485
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Page 2 Effect for a member 30 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,022,137 £993,745 £1,243,506 £1,204,277 £221,369 £210,532
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 20 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £597,310 £586,506 £771,275 £754,727 £173,965 £168,221
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 10 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,713 £192,152 £191,370 £118,247 £117,657
5 £126,168 £125,621 £250,190 £248,610 £124,022 £122,989
10 £263,456 £261,112 £400,168 £395,524 £136,712 £134,413
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Page 3 Effect for a member 5 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,017 £23,995 £136,488 £136,276 £112,471 £112,281
3 £73,458 £73,262 £190,559 £189,764 £117,101 £116,503
5 £124,377 £123,822 £245,633 £244,040 £121,256 £120,217
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 3 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,981 £23,959 £136,146 £135,930 £112,164 £111,972
3 £73,145 £72,947 £189,289 £188,489 £116,144 £115,542
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44% ■ Bond asset classes -1.56% ■ Cash asset classes -0.88%
Illustration assumptions
1 These tables illustrate the potential impact fund costs may have on the projected value of monies invested in an average member’s pension plan. 2 For lifestyle strategies the effect of costs over different time periods to target retirement age are illustrated separately. Target retirement age relates to the period to a member's selected retirement age, or if not selected the plan's normal retirement age. 3 These are not projections of your own pension plan. Please refer to your annual account statement for an estimate of your pension or for further help visit fidelitypensions.co.uk or call Fidelity’s Pension Service Centre. 4 All the figures illustrated here are only examples and are not guaranteed - they are not minimum or maximum amounts. 5 All figures are calculated as at the end of the last quarter. 6 You could get back more or less than this and you may also get back less than the amount that you have invested. 7 Reduction in Yield (RIY) is a way of expressing the impact of all charges on a pension policy over a period of time. It sets out the annual reduction in return that would otherwise have been provided if the fund carried no charges at all. 8 Investment return in real terms: is the effective annual growth rate of the fund after adjusting for the inflation rate.
Page 4 View all investment options Funds
The table of fund costs shows the charges that apply to the various investment options available to you through your pension scheme and the illustration shows how they could affect the growth of a pension plan.
Further information on your investment options can be found within your plan literature and fund factsheets. This can be found online at www.planviewer.co.uk. Further notes and assumptions used for these illustrations can be found further down the page. Click on the fund name to view the illustrations.
Fund Total expense ratio Transaction cost Total cost
CSPF BlackRock European Equity Index Fd 0.17% 0.00% 0.17%
CSPF BlackRock Global 50:50 Index Fund 0.14% 0.03% 0.17%
CSPF BlackRock Japanese Equity Index Fd 0.17% 0.00% 0.17%
CSPF BlackRock Money Market Fund 0.18% 0.02% 0.20%
CSPF BlackRock Over 15 Yr Gilts Index Fd 0.15% -0.04% 0.11%
CSPF BlackRock Over 5 Year I-L-Gilt Fund 0.15% -0.01% 0.14%
CSPF BlackRock Pac Rim Equity Index Fund 0.17% 0.00% 0.17%
CSPF BlackRock UK Equity Index Fund 0.15% 0.05% 0.20%
CSPF BlackRock US Equity Index Fund 0.17% 0.03% 0.20%
CSPF Fidelity Corporate Bond Fund 0.40% -0.12% 0.28%
CSPF L&G Ethical UK Equity Index Fund 0.35% 0.03% 0.38%
CSPF L&G Global Emerging Markets Index 0.51% 0.08% 0.59%
CSPF L&G Overseas Bond Index Fund 0.26% 0.00% 0.26%
CSPF Passive Multi Asset Fund 0.16% 0.02% 0.18%
CSPF Threadneedle Pooled Property Fund 0.96% 0.09% 1.05%
Fidelity Credit Suisse HSBC Islamic Fund 0.51% 0.02% 0.53%
Page 5 Lifestyle strategies
A Lifestyle Strategy is an automated investment process that moves your pension plan between different types of funds to expose your monies to appropriate risk and opportunity for growth during your working life. Lifestyle Strategies will typically alter your investment allocation as you approach the date you have chosen to take benefits to support the retirement income option your strategy is targeting. Further details on your lifestyle strategy can be viewed within your scheme literature or the Statement of Investment Principles.
CSPF Annuity Lifestyle Strategy
Time to retirement (in years) Total expense ratio Transaction cost Total cost
0 0.15% -0.03% 0.12%
3 0.15% -0.02% 0.13%
6 0.14% 0.00% 0.14%
9 0.14% 0.02% 0.16%
15 0.14% 0.03% 0.17%
20 0.14% 0.03% 0.17%
25 0.14% 0.03% 0.17%
30 0.14% 0.03% 0.17%
40 0.14% 0.03% 0.17%
50 0.14% 0.03% 0.17%
CSPF Cash Lifestyle Strategy
Time to retirement (in years) Total expense ratio Transaction cost Total cost
0 0.18% 0.02% 0.20%
3 0.17% 0.02% 0.19%
6 0.15% 0.02% 0.17%
9 0.14% 0.02% 0.16%
15 0.14% 0.03% 0.17%
20 0.14% 0.03% 0.17%
25 0.14% 0.03% 0.17%
30 0.14% 0.03% 0.17%
40 0.14% 0.03% 0.17%
50 0.14% 0.03% 0.17%
Page 6 CSPF Drawdown Lifestyle Strategy
Time to retirement (in years) Total expense ratio Transaction cost Total cost
0 0.16% 0.02% 0.18%
3 0.15% 0.02% 0.17%
6 0.15% 0.02% 0.17%
9 0.14% 0.02% 0.16%
15 0.14% 0.03% 0.17%
20 0.14% 0.03% 0.17%
25 0.14% 0.03% 0.17%
30 0.14% 0.03% 0.17%
40 0.14% 0.03% 0.17%
50 0.14% 0.03% 0.17%
Illustrations Funds
CSPF BlackRock European Equity Index Fd
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,520 £112,683 £112,497
3 £73,906 £73,716 £192,152 £191,378 £118,247 £117,663
5 £126,229 £125,691 £250,315 £248,756 £124,085 £123,066
10 £268,622 £266,311 £408,596 £403,994 £139,974 £137,683
20 £610,441 £599,642 £788,557 £771,975 £178,115 £172,333
30 £1,045,403 £1,016,862 £1,272,053 £1,232,565 £226,650 £215,703
40 £1,598,886 £1,539,081 £1,887,296 £1,809,069 £288,410 £269,988
50 £2,303,189 £2,192,723 £2,670,187 £2,530,658 £366,999 £337,935
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
Page 7 CSPF BlackRock Global 50:50 Index Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,045,403 £1,016,669 £1,272,053 £1,232,298 £226,650 £215,630
40 £1,598,886 £1,538,679 £1,887,296 £1,808,544 £288,410 £269,865
50 £2,303,189 £2,191,986 £2,670,187 £2,529,728 £366,999 £337,743
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
CSPF BlackRock Japanese Equity Index Fd
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,520 £112,683 £112,497
3 £73,906 £73,716 £192,152 £191,378 £118,247 £117,663
5 £126,229 £125,691 £250,315 £248,756 £124,085 £123,066
10 £268,622 £266,311 £408,596 £403,994 £139,974 £137,683
20 £610,441 £599,642 £788,557 £771,975 £178,115 £172,333
30 £1,045,403 £1,016,862 £1,272,053 £1,232,565 £226,650 £215,703
40 £1,598,886 £1,539,081 £1,887,296 £1,809,069 £288,410 £269,988
50 £2,303,189 £2,192,723 £2,670,187 £2,530,658 £366,999 £337,935
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
Page 8 CSPF BlackRock Money Market Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,617 £23,593 £132,651 £132,419 £109,034 £108,826
3 £70,231 £70,025 £177,359 £176,541 £107,128 £106,515
5 £116,030 £115,472 £221,285 £219,726 £105,255 £104,254
10 £227,054 £224,912 £327,769 £323,720 £100,714 £98,808
20 £434,942 £426,940 £527,154 £515,695 £92,212 £88,755
30 £625,280 £608,413 £709,708 £688,138 £84,428 £79,725
40 £799,551 £771,422 £876,852 £843,036 £77,301 £71,613
50 £959,111 £917,846 £1,029,886 £982,173 £70,776 £64,327
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Cash asset classes -0.88%
CSPF BlackRock Over 15 Yr Gilts Index Fd
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,529 £23,515 £131,812 £131,686 £108,283 £108,171
3 £69,490 £69,380 £174,419 £173,982 £104,929 £104,603
5 £114,027 £113,731 £215,706 £214,884 £101,679 £101,153
10 £219,428 £218,315 £313,415 £311,332 £93,987 £93,017
20 £406,913 £402,924 £487,217 £481,580 £80,304 £78,656
30 £567,104 £559,032 £635,718 £625,545 £68,614 £66,513
40 £703,975 £691,038 £762,601 £747,282 £58,625 £56,244
50 £820,921 £802,664 £871,012 £850,225 £50,091 £47,561
Reduction in yield: 0.1% Reduction in yield: 0.1% Reduction in yield: 0.1%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Bond asset classes -1.56%
Page 9 CSPF BlackRock Over 5 Year I-L-Gilt Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,529 £23,512 £131,812 £131,653 £108,283 £108,141
3 £69,490 £69,351 £174,419 £173,868 £104,929 £104,518
5 £114,027 £113,653 £215,706 £214,668 £101,679 £101,015
10 £219,428 £218,023 £313,415 £310,787 £93,987 £92,764
20 £406,913 £401,885 £487,217 £480,114 £80,304 £78,229
30 £567,104 £556,937 £635,718 £622,908 £68,614 £65,971
40 £703,975 £687,694 £762,601 £743,329 £58,625 £55,634
50 £820,921 £797,963 £871,012 £844,880 £50,091 £46,917
Reduction in yield: 0.1% Reduction in yield: 0.1% Reduction in yield: 0.1%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Bond asset classes -1.56%
CSPF BlackRock Pac Rim Equity Index Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,520 £112,683 £112,497
3 £73,906 £73,716 £192,152 £191,378 £118,247 £117,663
5 £126,229 £125,691 £250,315 £248,756 £124,085 £123,066
10 £268,622 £266,311 £408,596 £403,994 £139,974 £137,683
20 £610,441 £599,642 £788,557 £771,975 £178,115 £172,333
30 £1,045,403 £1,016,862 £1,272,053 £1,232,565 £226,650 £215,703
40 £1,598,886 £1,539,081 £1,887,296 £1,809,069 £288,410 £269,988
50 £2,303,189 £2,192,723 £2,670,187 £2,530,658 £366,999 £337,935
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
Page 10 CSPF BlackRock UK Equity Index Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,018 £136,727 £136,476 £112,683 £112,458
3 £73,906 £73,676 £192,152 £191,217 £118,247 £117,541
5 £126,229 £125,579 £250,315 £248,432 £124,085 £122,854
10 £268,622 £265,831 £408,596 £403,041 £139,974 £137,209
20 £610,441 £597,418 £788,557 £768,567 £178,115 £171,149
30 £1,045,403 £1,011,026 £1,272,053 £1,224,510 £226,650 £213,485
40 £1,598,886 £1,526,943 £1,887,296 £1,793,235 £288,410 £266,292
50 £2,303,189 £2,170,476 £2,670,187 £2,502,638 £366,999 £332,161
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
CSPF BlackRock US Equity Index Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,018 £136,727 £136,477 £112,683 £112,459
3 £73,906 £73,677 £192,152 £191,220 £118,247 £117,543
5 £126,229 £125,580 £250,315 £248,438 £124,085 £122,857
10 £268,622 £265,839 £408,596 £403,057 £139,974 £137,217
20 £610,441 £597,455 £788,557 £768,624 £178,115 £171,169
30 £1,045,403 £1,011,123 £1,272,053 £1,224,645 £226,650 £213,522
40 £1,598,886 £1,527,145 £1,887,296 £1,793,498 £288,410 £266,353
50 £2,303,189 £2,170,846 £2,670,187 £2,503,104 £366,999 £332,257
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
Page 11 CSPF Fidelity Corporate Bond Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,529 £23,493 £131,812 £131,476 £108,283 £107,983
3 £69,490 £69,195 £174,419 £173,253 £104,929 £104,058
5 £114,027 £113,236 £215,706 £213,512 £101,679 £100,276
10 £219,428 £216,462 £313,415 £307,874 £93,987 £91,412
20 £406,913 £396,347 £487,217 £472,312 £80,304 £75,966
30 £567,104 £545,835 £635,718 £608,964 £68,614 £63,129
40 £703,975 £670,063 £762,601 £722,524 £58,625 £52,462
50 £820,921 £773,299 £871,012 £816,895 £50,091 £43,597
Reduction in yield: 0.3% Reduction in yield: 0.3% Reduction in yield: 0.3%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Bond asset classes -1.56%
CSPF L&G; Ethical UK Equity Index Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £23,996 £136,727 £136,262 £112,683 £112,267
3 £73,906 £73,480 £192,152 £190,421 £118,247 £116,941
5 £126,229 £125,025 £250,315 £246,835 £124,085 £121,810
10 £268,622 £263,473 £408,596 £398,360 £139,974 £134,887
20 £610,441 £586,555 £788,557 £751,960 £178,115 £165,405
30 £1,045,403 £982,734 £1,272,053 £1,185,561 £226,650 £202,827
40 £1,598,886 £1,468,546 £1,887,296 £1,717,262 £288,410 £248,716
50 £2,303,189 £2,064,272 £2,670,187 £2,369,259 £366,999 £304,987
Reduction in yield: 0.4% Reduction in yield: 0.4% Reduction in yield: 0.4%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
Page 12 CSPF L&G; Global Emerging Markets Index
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,529 £23,454 £131,812 £131,109 £108,283 £107,654
3 £69,490 £68,874 £174,419 £171,985 £104,929 £103,112
5 £114,027 £112,376 £215,706 £211,137 £101,679 £98,761
10 £219,428 £213,270 £313,415 £301,940 £93,987 £88,670
20 £406,913 £385,185 £487,217 £456,661 £80,304 £71,476
30 £567,104 £523,763 £635,718 £581,379 £68,614 £57,616
40 £703,975 £635,470 £762,601 £681,914 £58,625 £46,444
50 £820,921 £725,516 £871,012 £762,953 £50,091 £37,438
Reduction in yield: 0.6% Reduction in yield: 0.6% Reduction in yield: 0.6%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Bond asset classes -1.56%
CSPF L&G; Overseas Bond Index Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,529 £23,495 £131,812 £131,497 £108,283 £108,002
3 £69,490 £69,214 £174,419 £173,327 £104,929 £104,113
5 £114,027 £113,286 £215,706 £213,651 £101,679 £100,365
10 £219,428 £216,649 £313,415 £308,223 £93,987 £91,574
20 £406,913 £397,008 £487,217 £473,243 £80,304 £76,235
30 £567,104 £547,155 £635,718 £610,620 £68,614 £63,465
40 £703,975 £672,152 £762,601 £724,986 £58,625 £52,834
50 £820,921 £776,210 £871,012 £820,194 £50,091 £43,984
Reduction in yield: 0.3% Reduction in yield: 0.3% Reduction in yield: 0.3%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Bond asset classes -1.56%
Page 13 CSPF Passive Multi Asset Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,513 £112,683 £112,491
3 £73,906 £73,710 £192,152 £191,354 £118,247 £117,644
5 £126,229 £125,674 £250,315 £248,707 £124,085 £123,033
10 £268,622 £266,237 £408,596 £403,848 £139,974 £137,611
20 £610,441 £599,302 £788,557 £771,454 £178,115 £172,152
30 £1,045,403 £1,015,968 £1,272,053 £1,231,331 £226,650 £215,363
40 £1,598,886 £1,537,220 £1,887,296 £1,806,641 £288,410 £269,421
50 £2,303,189 £2,189,309 £2,670,187 £2,526,356 £366,999 £337,047
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
CSPF Threadneedle Pooled Property Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £23,908 £136,727 £135,423 £112,683 £111,515
3 £73,906 £72,716 £192,152 £187,324 £118,247 £114,608
5 £126,229 £122,878 £250,315 £240,665 £124,085 £117,787
10 £268,622 £254,455 £408,596 £380,581 £139,974 £126,126
20 £610,441 £546,212 £788,557 £690,828 £178,115 £144,615
30 £1,045,403 £880,740 £1,272,053 £1,046,556 £226,650 £165,816
40 £1,598,886 £1,264,309 £1,887,296 £1,454,433 £288,410 £190,124
50 £2,303,189 £1,704,108 £2,670,187 £1,922,103 £366,999 £217,995
Reduction in yield: 1.1% Reduction in yield: 1.1% Reduction in yield: 1.1%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
Page 14 Fidelity Credit Suisse HSBC Islamic Fund
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £23,975 £136,727 £136,069 £112,683 £112,093
3 £73,906 £73,303 £192,152 £189,703 £118,247 £116,400
5 £126,229 £124,527 £250,315 £245,399 £124,085 £120,872
10 £268,622 £261,361 £408,596 £394,180 £139,974 £132,819
20 £610,441 £576,941 £788,557 £737,312 £178,115 £160,371
30 £1,045,403 £957,985 £1,272,053 £1,151,625 £226,650 £193,640
40 £1,598,886 £1,418,075 £1,887,296 £1,651,885 £288,410 £233,809
50 £2,303,189 £1,973,609 £2,670,187 £2,255,920 £366,999 £282,312
Reduction in yield: 0.5% Reduction in yield: 0.5% Reduction in yield: 0.5%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44%
Lifestyle strategies
CSPF Annuity Lifestyle Strategy
Effect for a member 50 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,045,403 £1,016,669 £1,272,053 £1,232,298 £226,650 £215,630
40 £1,598,886 £1,538,679 £1,887,296 £1,808,544 £288,410 £269,865
50 £1,920,470 £1,832,555 £2,224,303 £2,112,842 £303,833 £280,286
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Page 15 Effect for a member 40 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,045,403 £1,016,669 £1,272,053 £1,232,298 £226,650 £215,630
40 £1,337,389 £1,290,388 £1,576,159 £1,514,344 £238,770 £223,956
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 30 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £879,168 £857,182 £1,066,808 £1,036,129 £187,640 £178,947
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 20 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £519,070 £511,039 £666,529 £654,022 £147,459 £142,983
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Page 16 Effect for a member 10 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,017 £23,996 £136,533 £136,327 £112,516 £112,331
3 £73,064 £72,888 £189,391 £188,667 £116,327 £115,779
5 £122,192 £121,731 £240,577 £239,221 £118,384 £117,490
10 £236,083 £234,461 £351,965 £348,709 £115,882 £114,248
Reduction in yield: 0.1% Reduction in yield: 0.1% Reduction in yield: 0.1%
Effect for a member 5 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,764 £23,746 £134,109 £133,940 £110,345 £110,193
3 £70,933 £70,787 £180,746 £180,156 £109,813 £109,369
5 £116,473 £116,089 £224,148 £223,053 £107,675 £106,964
Reduction in yield: 0.1% Reduction in yield: 0.1% Reduction in yield: 0.1%
Effect for a member 3 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,669 £23,652 £133,200 £133,038 £109,531 £109,386
3 £70,128 £69,990 £177,527 £176,971 £107,399 £106,982
Reduction in yield: 0.1% Reduction in yield: 0.1% Reduction in yield: 0.1%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44% ■ Bond asset classes -1.56% ■ Cash asset classes -0.88%
CSPF Cash Lifestyle Strategy
Page 17 Effect for a member 50 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,045,403 £1,016,669 £1,272,053 £1,232,298 £226,650 £215,630
40 £1,598,886 £1,538,679 £1,887,296 £1,808,544 £288,410 £269,865
50 £2,099,667 £1,996,842 £2,433,572 £2,303,870 £333,905 £307,028
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 40 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,045,403 £1,016,669 £1,272,053 £1,232,298 £226,650 £215,630
40 £1,458,873 £1,402,946 £1,721,277 £1,648,270 £262,403 £245,324
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 30 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £955,299 £928,408 £1,161,511 £1,124,428 £206,212 £196,020
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Page 18 Effect for a member 20 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £559,559 £549,239 £721,613 £705,865 £162,054 £156,626
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 10 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,713 £192,152 £191,370 £118,247 £117,657
5 £125,983 £125,436 £249,814 £248,234 £123,831 £122,799
10 £248,563 £246,273 £375,915 £371,421 £127,352 £125,148
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 5 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,935 £23,913 £135,774 £135,557 £111,839 £111,644
3 £72,130 £71,929 £185,854 £185,047 £113,724 £113,118
5 £118,998 £118,438 £232,125 £230,542 £113,128 £112,104
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 3 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,793 £23,769 £134,412 £134,188 £110,619 £110,418
3 £70,914 £70,709 £180,953 £180,139 £110,040 £109,429
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
Page 19 ■ Equity asset classes 2.44% ■ Bond asset classes -1.56% ■ Cash asset classes -0.88%
CSPF Drawdown Lifestyle Strategy
Effect for a member 50 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,045,403 £1,016,669 £1,272,053 £1,232,298 £226,650 £215,630
40 £1,598,886 £1,538,679 £1,887,296 £1,808,544 £288,410 £269,865
50 £2,250,616 £2,141,276 £2,609,064 £2,471,034 £358,447 £329,758
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 40 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,045,403 £1,016,669 £1,272,053 £1,232,298 £226,650 £215,630
40 £1,562,724 £1,503,414 £1,844,414 £1,766,899 £281,690 £263,485
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Page 20 Effect for a member 30 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £610,441 £599,569 £788,557 £771,863 £178,115 £172,294
30 £1,022,137 £993,745 £1,243,506 £1,204,277 £221,369 £210,532
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 20 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,714 £192,152 £191,373 £118,247 £117,659
5 £126,229 £125,687 £250,315 £248,746 £124,085 £123,059
10 £268,622 £266,295 £408,596 £403,962 £139,974 £137,667
20 £597,310 £586,506 £771,275 £754,727 £173,965 £168,221
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 10 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,044 £24,022 £136,727 £136,518 £112,683 £112,496
3 £73,906 £73,713 £192,152 £191,370 £118,247 £117,657
5 £126,168 £125,621 £250,190 £248,610 £124,022 £122,989
10 £263,456 £261,112 £400,168 £395,524 £136,712 £134,413
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Page 21 Effect for a member 5 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £24,017 £23,995 £136,488 £136,276 £112,471 £112,281
3 £73,458 £73,262 £190,559 £189,764 £117,101 £116,503
5 £124,377 £123,822 £245,633 £244,040 £121,256 £120,217
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Effect for a member 3 years prior to target retirement date
Starting fund: £0 Starting fund: £110,000 Starting fund: £110,000 Fund value at end of year Future contribution: £2,000pm Future contribution: £2,000pm Future contribution: £0pm No costs After all costs No costs After all costs No costs After all costs
1 £23,981 £23,959 £136,146 £135,930 £112,164 £111,972
3 £73,145 £72,947 £189,289 £188,489 £116,144 £115,542
Reduction in yield: 0.2% Reduction in yield: 0.2% Reduction in yield: 0.2%
Fund/Strategy investment growth rate assumptions vary according to the type of asset class the funds are (see also note 3 in Further Notes and Assumptions)
■ Equity asset classes 2.44% ■ Bond asset classes -1.56% ■ Cash asset classes -0.88%
Further notes and assumptions 1 Projected pension fund values are shown in today's terms and do not need to be reduced further for the effect of future inflation. 2 Inflation is assumed to be 2.5% each year. 3 For Lifestyle Strategies the projections take into account the changing proportion invested in the different underlying funds over time and the growth rates may be a blend of those shown above where there is a blend of different asset classes. 4 Any data used within the illustrations is the data held as at the last quarter end. 5 Where on-going contributions are assumed, these increase in line with inflation each year. 6 Illustrations have been shown using a range of starting fund values and future contribution levels. 7 The starting fund value used in the projections is representative of the average for this scheme based on all members having holdings in the scheme (subject to a minimum of £1 000). 8 The future contribution used in the projections is representative of the average for this scheme based on the number of members currently contributing into the scheme (subject to a minimum of £100). 9 Funds and Strategies displayed are those that were available within the scheme as at the end of the last quarter (please note these may not be available for selection). Any new fund(s) introduced during the quarter will only be displayed as from the start of the next quarter. 10 There may be more than one lifestyle strategy or fund defined as a default arrangement by law but only one is shown as the default investment choice. Where there are different strategies in place for different contribution types, unless specified by the scheme, the default will be determined by the company contribution in the first instance. 11 If the underlying fund provider(s) has not provided transaction costs, then projections have been made using just the available Total Expense Ratio figure. 12 The projections assume that no withdrawals are made prior to scheme Pension Age.
Page 22