FUND SUMMARY. Worksave Pension Plan / Worksave Buy out Plan

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FUND SUMMARY. WorkSave Pension Plan / WorkSave Buy Out Plan

October 2014 WorkSave Pension Plan / WorkSave Buy Out Plan 2

CONTENTS

LEGAL & GENERAL GROUP FUNDS. 3

EXTERNAL FUNDS. 6

LEGAL & GENERAL LIFESTYLE PROFILES. 12

GOVERNED FUNDS. 14

CORE FUNDS. 15

WHAT ARE THE CHARGES FOR INVESTING? 16 WorkSave Pension Plan / WorkSave Buy Out Plan 3

LEGAL & GENERAL GROUP FUNDS.

FUND GOVERNED FUND RISK FUND NAME ABI SECTOR¹ IMC² AE² FMC² CODE FUND CATEGORY³

L&G (PMC) AAA Fixed Interest All Stocks Targeted Duration Fund 3 NEJ3 Sterling Corporate Bond 0.12% 0.00% 0.12% 3 Mid

L&G (PMC) AAA Fixed Interest Over 15 Year Targeted Duration Fund 3 NEI3 Sterling Long Bond 0.12% 0.00% 0.12% 3 Upper

L&G (PMC) AAA-AA-A Corporate Bond All Stocks Index Fund 3 NEM3 Sterling Corporate Bond Y 0.12% 0.00% 0.12% 3 Mid

L&G (PMC) AAA-AA-A Corporate Bond Over 15 Year Index Fund 3 NEK3 Sterling Long Bond 0.12% 0.00% 0.12% 3 Mid

L&G (PMC) All Stocks Gilts Index Fund 3 NBY3 UK Gilt Y 0.08% 0.00% 0.08% 3 Mid

L&G (PMC) All Stocks Index Linked Gilts Index Fund 3 NEL3 UK Index-linked Gilts Y 0.08% 0.00% 0.08% 3 Mid Asia Pacific excluding L&G (PMC) Asia Pacific (Ex-Japan) Developed Equity Index Fund 3 NEF3 0.14% 0.00% 0.14% 5 Upper Japan Equities Asia Pacific excluding L&G (PMC) Asia Pacific (Ex-Japan) Equity Index Fund 3 NEG3 0.14% 0.00% 0.14% 5 Upper Japan Equities L&G (PMC) Consensus Index Fund 3 NBQ3 Specialist Y 0.10% 0.00% 0.10% 4 Mid Mixed Investment 40%- L&G (PMC) Diversified Fund 3 NWW3 0.25% 0.02% 0.27% 4 Mid 85% Shares L&G (PMC) Dynamic Diversified Fund 3 NXZ3 Specialist 0.50% 0.03% 0.53% 4 Lower

L&G (PMC) Ethical Global Equity Index Fund 3 NEB3 Global Equities 0.30% 0.00% 0.30% 5 Lower

L&G (PMC) Ethical UK Equity Index Fund 3 NEA3 UK All Companies 0.20% 0.00% 0.20% 4 Upper Europe excluding UK L&G (PMC) Europe (Ex-UK) Equity Index Fund 3 NBS3 Y 0.12% 0.00% 0.12% 5 Lower Equities L&G (PMC) Global Equity 70:30 Index Fund 3 NEO3 Global Equities Y 0.10% 0.00% 0.10% 4 Upper

L&G (PMC) Global Equity Fixed Weights 50:50 Index Fund 3 NDZ3 Global Equities Y 0.10% 0.00% 0.10% 4 Upper

L&G (PMC) Global Equity Fixed Weights 60:40 Index Fund 3 NDY3 Global Equities Y 0.10% 0.00% 0.10% 5 Lower

L&G (PMC) Global Equity Market Weights 30:70 Index Fund 75% GBP Currency Hedged Fund 3 NRJ3 Global Equities 0.14% 0.00% 0.14% 4 Upper

L&G (PMC) Global Fixed Weights (50:50) Index Fund GBP Currency Hedged Fund 3 NQN3 Global Equities 0.15% 0.00% 0.15% 4 Upper

¹ See page 15 for a description of ABI Sectors and how to obtain more information. ² See page 16 for a more detailed explanation of these charges. ³ See ‘Your Risk Meter’ for more information on our Fund Risk categories. WorkSave Pension Plan / WorkSave Buy Out Plan 4

LEGAL & GENERAL GROUP FUNDS.

FUND GOVERNED FUND RISK FUND NAME ABI SECTOR¹ IMC² AE² FMC² CODE FUND CATEGORY³

L&G (PMC) Japan Equity Index Fund 3 NBW3 Japan Equities 0.12% 0.00% 0.12% 5 Upper Mixed Investment 40%- L&G (PMC) Multi-Asset Fund 3 NTW3 Y 0.13% 0.00% 0.13% 4 Lower 85% Shares L&G (PMC) North America Equity Index Fund 3 NDX3 North America Equities Y 0.12% 0.00% 0.12% 5 Lower

L&G (PMC) Over 15 Year Gilts Index Fund 3 NBR3 Sterling Long Bond Y 0.08% 0.00% 0.08% 3 Upper

L&G (PMC) Over 5 Year Index Linked Gilts Index Fund 3 NEC3 UK Index-linked Gilts Y 0.08% 0.00% 0.08% 3 Mid

L&G (PMC) Overseas Bond Index Fund 3 NBX3 Global Fixed Interest 0.15% 0.00% 0.15% 3 Upper

L&G (PMC) Overseas Equity Consensus Index Fund 3 NEE3 Specialist 0.14% 0.00% 0.14% 5 Lower

L&G (PMC) Pre-Retirement Fund 3 NEN3 Sterling Long Bond Y 0.12% 0.00% 0.12% 3 Upper

L&G (PMC) UK Equity 5% Capped Passive Fund 3 NNM3 UK All Companies 0.10% 0.00% 0.10% 4 Upper

L&G (PMC) UK Equity Index Fund 3 NBC3 UK All Companies Y 0.10% 0.00% 0.10% 4 Upper

L&G (PMC) World (Ex-UK) Equity Index Fund 3 NED3 Global Equities Y 0.12% 0.00% 0.12% 5 Lower Global Emerging L&G (PMC) World Emerging Markets Equity Index Fund 3 NQM3 Y 0.45% 0.00% 0.45% 5 Upper Markets Equities L&G Cash Fund 3 EAB3 Deposit & Treasury Y 0.09% 0.01% 0.10% 2 Mixed Investment 20%- L&G Distribution Fund 3 EAZ3 Y 0.27% 0.04% 0.31% 4 Lower 60% Shares L&G Dynamic Bond Fund 3 EKJ3 Sterling Strategic Bond 0.60% 0.05% 0.65% 3 Upper

L&G Equity Fund 3 EAC3 UK All Companies 0.20% 0.01% 0.21% 4 Upper Europe excluding UK L&G European Fund 3 EAM3 0.30% 0.01% 0.31% 5 Lower Equities Asia Pacific including L&G Far Eastern Fund 3 EAL3 0.30% 0.03% 0.33% 5 Lower Japan Equities L&G Fixed Interest Fund 3 EAD3 UK Gilt Y 0.09% 0.01% 0.10% 3 Lower

LEGAL & GENERAL GROUP FUNDS.

FUND GOVERNED FUND RISK FUND NAME ABI SECTOR¹ IMC² AE² FMC² CODE FUND CATEGORY³

L&G Growth Fund 3 EHK3 UK All Companies Y 0.70% 0.08% 0.78% 4 Upper

L&G High Income Fund 3 EID3 Sterling High Yield 0.30% 0.05% 0.35% 4 Lower

L&G Index-Linked Gilt Fund 3 EAH3 UK Index-linked Gilts 0.09% 0.01% 0.10% 3 Mid

L&G International Fund 3 EAF3 Global Equities 0.30% 0.04% 0.34% 4 Upper Mixed Investment 40%- L&G Managed Fund 3 EAA3 0.12% 0.04% 0.16% 4 Mid 85% Shares L&G Managed Income Fund 3 3344 Sterling Corporate Bond 0.12% 0.18% 0.30% 3 Upper Mixed Investment 40%- L&G Multi Manager Balanced Fund 3 3606 0.12% 1.10% 1.22% 4 Mid 85% Shares L&G Multi Manager Growth Fund 3 3607 Flexible Investment 0.12% 1.08% 1.20% 4 Upper Mixed Investment 20%- L&G Multi Manager Income Fund 3 3608 0.12% 1.08% 1.20% 3 Upper 60% Shares L&G North American Fund 3 EAK3 North America Equities 0.30% 0.01% 0.31% 5 Lower

L&G Property Fund 3 EAE3 UK Direct Property Y 0.30% 0.44% 0.74% 4 Lower

L&G UK Alpha Fund 3 EJW3 UK All Companies 0.70% 0.07% 0.77% 5 Lower

L&G UK Recovery Fund 3 EBV3 UK All Companies 0.20% 0.06% 0.26% 4 Upper

L&G UK Smaller Companies Fund 3 EBU3 UK Smaller Companies 0.20% 0.05% 0.25% 5 Lower

EXTERNAL FUNDS.

FUND GOVERNED FUND RISK FUND NAME ABI SECTOR¹ IMC² AE² FMC² CODE FUND CATEGORY³ Asia Pacific including L&G Aberdeen Asia Pacific and Japan Equity Fund 3 3214 1.00% 0.05% 1.05% 5 Lower Japan Equities L&G Aberdeen Property Share Fund 3 3217 UK Property Securities 0.87% 0.11% 0.98% 5 Lower Global Emerging L&G Allianz BRIC Stars Fund 3 3537 1.00% 0.32% 1.32% 5 Upper Markets Equities L&G Allianz Gilt Yield Fund 3 3223 UK Gilt 0.62% 0.05% 0.67% 3 Mid

L&G Allianz Sterling Total Return Fund 3 3224 Sterling Strategic Bond 0.72% 0.16% 0.88% 3 Upper

L&G Allianz UK Corporate Bond Fund 3 3538 Sterling Corporate Bond 0.62% 0.20% 0.82% 3 Mid Europe excluding UK L&G Artemis European Growth Fund 3 3226 0.77% 0.12% 0.89% 5 Lower Equities L&G Artemis Global Growth Fund 3 3227 Global Equities 0.87% 0.15% 1.02% 5 Upper

L&G Artemis Income Fund 3 3229 UK Equity Income Y 0.77% 0.04% 0.81% 4 Mid

L&G Artemis UK Special Situations Fund 3 3233 UK All Companies 0.87% 0.05% 0.92% 4 Upper

L&G Aviva Investors Property Fund 3 3400 UK Direct Property 0.75% 0.98% 1.73% 4 Lower

L&G AXA Framlington UK Select Opportunities Fund 3 3274 UK All Companies 0.87% 0.08% 0.95% 4 Upper

L&G Baring Global Bond Fund 3 3235 Global Fixed Interest 0.75% 0.09% 0.84% 3 Mid ABI Mixed Investment L&G Baring Multi Asset Fund 3 3719 0.62% 0.31% 0.93% 3 Upper 20%-60% Shares Mixed Investment 40%- L&G BlackRock Balanced Income Portfolio Fund 3 3367 0.87% 0.19% 1.06% 4 Lower 85% Shares L&G BlackRock Gold & General Fund 3 3366 Commodity/Energy 1.00% 0.18% 1.18% 5 Upper

L&G BlackRock UK Absolute Alpha Fund 3 3589 Specialist 0.87% 0.18% 1.05% 4 Lower

L&G BlackRock UK Fund 3 3368 UK All Companies 0.87% 0.16% 1.03% 4 Upper

L&G BlackRock UK Income Fund 3 3370 UK Equity Income 0.72% 0.17% 0.89% 4 Mid

EXTERNAL FUNDS.

FUND GOVERNED FUND RISK FUND NAME ABI SECTOR¹ IMC² AE² FMC² CODE FUND CATEGORY³

L&G BlackRock UK Smaller Companies Fund 3 3371 UK Smaller Companies 0.87% 0.17% 1.04% 5 Lower

L&G BlackRock UK Special Situations Fund 3 3372 UK All Companies 0.87% 0.16% 1.03% 4 Upper

L&G BlackRock US Dynamic Fund 3 3365 North America Equities 0.87% 0.18% 1.05% 5 Lower

L&G F&C Stewardship Income Fund 3 3256 UK Equity Income 0.77% 0.08% 0.85% 4 Mid

L&G F&C Stewardship International Fund 3 3709 Global Equities 0.77% 0.13% 0.90% 5 Lower

L&G Fidelity American Fund 3 3258 North America Equities 0.87% 0.20% 1.07% 5 Lower Europe excluding UK L&G Fidelity European Fund 3 3259 0.87% 0.21% 1.08% 5 Lower Equities Mixed Investment 20%- L&G Fidelity Multi Asset Strategic Fund 3 3666 0.72% 0.34% 1.06% 3 Upper 60% Shares Asia Pacific excluding L&G Fidelity South East Asia Fund 3 3594 1.07% 0.26% 1.33% 5 Upper Japan Equities L&G Fidelity Strategic Bond Fund 3 3707 Sterling Strategic Bond Y 0.52% 0.21% 0.73% 3 Mid Asia Pacific excluding L&G First State Asia Pacific Leaders Fund 3 3265 Y 0.87% 0.04% 0.91% 5 Upper Japan Equities L&G First State Global Resources Fund 3 3269 Specialist 0.87% 0.04% 0.91% 5 Upper Mixed Investment 20%- L&G Henderson Cautious Managed Fund 3 3279 Y 0.68% 0.19% 0.87% 3 Upper 60% Shares Global Emerging L&G Henderson China Opportunities Fund 3 3280 0.80% 0.27% 1.07% 5 Upper Markets Equities Europe excluding UK L&G Henderson European Growth Fund 3 3379 Y 0.80% 0.07% 0.87% 5 Lower Equities Europe excluding UK L&G Henderson European Selected Opportunities Fund 3 3282 0.80% 0.22% 1.02% 5 Lower Equities L&G Henderson Multi Manager Absolute Return Fund 3 3652 Specialist 0.68% 0.80% 1.48% 4 Mid

L&G Henderson Preference & Bond Fund 3 3290 Sterling Strategic Bond Y 0.68% 0.04% 0.72% 4 Lower

L&G Henderson Sterling Bond Fund 3 3388 Sterling Corporate Bond Y 0.68% 0.19% 0.87% 3 Lower

EXTERNAL FUNDS.

FUND GOVERNED FUND RISK FUND NAME ABI SECTOR¹ IMC² AE² FMC² CODE FUND CATEGORY³

L&G HSBC Life Amanah Fund 3 EFK3 Global Equities 0.55% 0.00% 0.55% 5 Lower

L&G Invesco Perpetual Corporate Bond Fund 3 3298 Sterling Corporate Bond Y ------0.78% 3 Mid Mixed Investment 20%- L&G Invesco Perpetual Distribution Fund 3 3299 ------0.97% 4 Lower 60% Shares L&G Invesco Perpetual Global Bond Fund 3 3300 Global Fixed Interest ------0.79% 4 Lower

L&G Invesco Perpetual High Income Fund 3 3302 UK Equity Income ------1.04% 4 Mid

L&G Invesco Perpetual Income Fund 3 3303 UK Equity Income Y ------0.98% 4 Mid

L&G Invesco Perpetual Monthly Income Plus Fund 3 3306 Sterling Strategic Bond ------0.92% 4 Lower

L&G Investec American Fund 3 3310 North America Equities 0.67% 0.09% 0.76% 5 Lower Mixed Investment 20%- L&G Investec Cautious Managed Fund 3 3312 0.62% 0.09% 0.71% 4 Lower 60% Shares L&G Investec Global Energy Fund 3 3313 Commodity/Energy 0.67% 0.12% 0.79% 5 Upper

L&G Investec Global Strategic Equity Fund 3 3314 Global Equities 0.67% 0.12% 0.79% 4 Upper

L&G Investec Global Gold Fund 3 3617 Commodity/Energy 0.87% 0.12% 0.99% 5 Upper

L&G Investec Strategic Bond Fund 3 3316 Sterling Corporate Bond 0.75% 0.10% 0.85% 3 Mid

L&G Investec UK Special Situations Fund 3 3319 UK All Companies 0.75% 0.90% 0.84% 4 Upper

L&G JOHCM UK Opportunities Fund 3 3543 UK All Companies 0.87% 0.07% 0.94% 4 Mid Mixed Investment 20%- L&G JPMorgan Cautious Managed Fund 3 3618 0.75% 0.18% 0.93% 4 Lower 60% Shares Global Emerging L&G JPMorgan Emerging Markets Fund 3 3517 0.87% 0.18% 1.05% 5 Upper Markets Equities L&G JPMorgan Natural Resources Fund 3 3323 Commodity/Energy 0.87% 0.18% 1.05% 5 Upper

L&G Jupiter Corporate Bond Fund 3 3327 Sterling Corporate Bond 0.32% 0.27% 0.59% 3 Mid

EXTERNAL FUNDS.

FUND GOVERNED FUND RISK FUND NAME ABI SECTOR¹ IMC² AE² FMC² CODE FUND CATEGORY³

L&G Jupiter Ecology Fund 3 3329 Global Equities 0.87% 0.20% 1.07% 4 Lower Global Emerging L&G Jupiter Emerging European Opportunities Fund 3 3330 0.87% 0.41% 1.28% 5 Upper Markets Equities Europe excluding UK L&G Jupiter European Special Situations Fund 3 3332 0.87% 0.29% 1.16% 5 Lower Equities L&G Jupiter Financial Opportunities Fund 3 3333 Specialist 0.87% 0.28% 1.15% 4 Upper Mixed Investment 40%- L&G Jupiter Merlin Balanced Portfolio Fund 3 3619 0.87% 0.95% 1.82% 4 Mid 85% Shares L&G Jupiter Merlin Growth Portfolio Fund 3 3336 Flexible Investment Y 0.87% 0.99% 1.86% 4 Mid Mixed Investment 20%- L&G Jupiter Merlin Income Portfolio Fund 3 3337 Y 0.87% 0.86% 1.73% 3 Upper 60% Shares L&G Kames Ethical Equity Fund 3 3218 UK All Companies Y 0.59% 0.06% 0.65% 4 Upper

L&G Lazard Global Equity Income Fund 3 3653 Global Equities 0.77% 0.05% 0.82% 4 Upper

L&G M&G American Fund 3 3518 North America Equities Y 0.77% 0.16% 0.93% 5 Upper

L&G M&G Corporate Bond Fund 3 3352 Sterling Corporate Bond 0.62% 0.16% 0.78% 3 Mid

L&G M&G Feeder of Property Portfolio Fund 3 3357 UK Direct Property 0.84% 0.47% 1.31% 4 Lower

L&G M&G Gilt & Fixed Interest Income Fund 3 3353 UK Gilt Y 0.50% 0.16% 0.66% 3 Mid

L&G M&G Global Basics Fund 3 3354 Global Equities 0.82% 0.17% 0.99% 5 Lower

L&G M&G Global Dividend Fund 3 3654 Global Equities 0.87% 0.16% 1.03% 4 Upper

L&G M&G Global Leaders Fund 3 3519 Global Equities 0.87% 0.17% 1.04% 5 Lower

L&G M&G High Yield Corporate Bond Fund 3 3355 Sterling High Yield Y 0.55% 0.16% 0.71% 4 Lower

L&G M&G Managed Growth Fund 3 3356 Flexible Investment 0.82% 0.30% 1.12% 4 Upper

L&G M&G Optimal Income Fund 3 3567 Sterling Strategic Bond 0.79% 0.16% 0.95% 3 Mid

EXTERNAL FUNDS.

FUND GOVERNED FUND RISK FUND NAME ABI SECTOR¹ IMC² AE² FMC² CODE FUND CATEGORY³

L&G M&G Recovery Fund 3 3358 UK All Companies Y 0.67% 0.00% 0.67% 4 Upper

L&G M&G Short Dated Corporate Bond Fund 3 3520 Sterling Corporate Bond 0.52% 0.16% 0.68% 3 Lower

L&G M&G Strategic Corporate Bond Fund 3 3359 Sterling Corporate Bond Y 0.52% 0.16% 0.68% 3 Mid

L&G Martin Currie North American Fund 3 3595 North America Equities 0.79% 0.21% 1.00% 5 Lower Mixed Investment 40%- L&G Neptune Balanced Fund 3 3373 Y 0.77% -0.14% 0.63% 4 Mid 85% Shares Europe excluding UK L&G Neptune European Opportunities Fund 3 3568 0.82% 0.06% 0.88% 5 Lower Equities L&G Neptune Global Equity Fund 3 3374 Global Equities Y 0.77% 0.07% 0.84% 5 Lower

L&G Neptune Russia & Greater Russia Fund 3 3376 Specialist 0.92% 0.14% 1.06% 5 Upper Mixed Investment 40%- L&G Newton Balanced Fund 3 3391 0.67% 0.11% 0.78% 4 Mid 85% Shares L&G Newton Global Equity Fund 3 3396 Global Equities 0.79% 0.12% 0.91% 5 Lower

L&G Newton Global Higher Income Fund 3 3522 Global Equities Y 0.72% 0.12% 0.84% 4 Upper

L&G Newton Higher Income Fund 3 3393 UK Equity Income 0.79% 0.11% 0.90% 4 Mid

L&G Newton International Bond Fund 3 3395 Global Fixed Interest 0.54% 0.13% 0.67% 4 Lower

L&G Newton Managed Fund 3 3397 Flexible Investment 0.79% 0.11% 0.90% 4 Upper

L&G Newton Real Return Fund 3 3668 Specialist 0.80% 0.11% 0.91% 4 Mid

L&G Newton UK Equity Fund 3 3394 UK All Companies 0.74% 0.11% 0.85% 4 Mid

L&G Old Mutual UK Mid Cap Fund 3 3403 UK All Companies 0.87% 0.17% 1.04% 5 Lower

L&G Royal London Corporate Bond Fund 3 3410 Sterling Corporate Bond 0.37% 0.05% 0.42% 3 Mid

L&G Royal London UK Government Bond Fund 3 3409 UK Gilt 0.37% 0.04% 0.41% 3 Mid

EXTERNAL FUNDS.

FUND GOVERNED FUND RISK FUND NAME ABI SECTOR¹ IMC² AE² FMC² CODE FUND CATEGORY³ Mixed Investment 40%- L&G Schroder Dynamic Multi Asset Fund 3 3622 0.72% 0.20% 0.92% 4 Mid 85% Shares Europe excluding UK L&G Schroder European Opportunities Fund 3 3243 Y 0.72% 0.19% 0.91% 5 Lower Equities L&G Schroder Global Equity Income Fund 3 3573 Global Equities 0.87% 0.18% 1.05% 4 Upper

L&G Schroder Global Property Securities Fund 3 3414 Global Property 0.87% 0.17% 1.04% 4 Upper

L&G Schroder Income Fund 3 3415 UK Equity Income Y 0.62% 0.16% 0.78% 4 Mid Mixed Investment 20%- L&G Schroder Multi Manager Diversity Fund 3 3549 0.52% 0.65% 1.17% 4 Mid 60% Shares L&G Schroder Tokyo Fund 3 3418 Japan Equities Y 0.62% 0.16% 0.78% 5 Lower

L&G Schroder UK Alpha Plus Fund 3 3419 UK All Companies Y 0.62% 0.16% 0.78% 4 Upper

L&G Schroder UK Mid 250 Fund 3 3421 UK All Companies Y 0.62% 0.16% 0.78% 5 Lower

L&G Schroder UK Smaller Companies Fund 3 3422 UK Smaller Companies Y 0.62% 0.16% 0.78% 5 Lower

L&G Standard Life Investments AAA Income Fund 3 3431 Sterling Corporate Bond 0.52% 0.11% 0.63% 3 Mid

L&G Standard Life Investments Global Absolute Return Strategies Fund 3 3647 Specialist 0.87% 0.09% 0.96% 4 Lower

L&G Standard Life Investments Higher Income Fund 3 3433 Sterling High Yield 0.72% 0.10% 0.82% 4 Lower

L&G Standard Life Investments UK Gilt Fund 3 3435 UK Gilt 0.52% 0.11% 0.63% 3 Mid

L&G SWIP European Real Estate Fund 3 3574 Global Property 0.87% 0.14% 1.01% 5 Lower

L&G Threadneedle Absolute Return Bond Fund 3 3648 Specialist 0.49% 0.13% 0.62% 3 Mid Mixed Investment 20%- L&G Threadneedle Equity & Bond Fund 3 3439 Y ------0.87% 3 Upper 60% Shares Mixed Investment 40%- L&G Threadneedle Global Equity & Bond Fund 3 3442 Y ------0.87% 4 Mid 85% Shares L&G Threadneedle Global Equity Fund 3 3441 Flexible Investment Y ------0.87% 4 Upper

L&G Threadneedle Global Select Fund 3 3443 Global Equities Y ------0.77% 5 Lower ¹ See page 15 for a description of ABI Sectors and how to obtain more information. ² See page 16 for a more detailed explanation of these charges. ³ See ‘Your Risk Meter’ for more information on our Fund Risk categories. WorkSave Pension Plan / WorkSave Buy Out Plan 12

LEGAL & GENERAL LIFESTYLE PROFILES.

SWITCHING LIFESTYLE PROFILE NAME CODE SWITCHING FREQUENCY PERIOD

Cautious Managed Lifestyle Profile LLC3 10 years Annually

Consensus 10 Year Lifestyle Profile LMS3 10 years Monthly

Consensus Three Year Lifestyle Profile LLF3 3 years Monthly

Consensus Five Year Lifestyle Profile LLK3 5 years Monthly

Consensus Index/Over 15 Year Gilts 5 Year Lifestyle Profile LMK3 5 years Monthly

Consensus Index/Over 15 Year Gilts 6 Year Lifestyle Profile LME3 6 years Monthly

Consensus Index/Over 15 Year Gilts 7 Year Lifestyle Profile LLU3 7 years Monthly

Consensus Index Lifestyle Profile LC43 10 years Monthly

Distribution/Over 15 Year Gilts 10 Year Lifestyle Profile LLT3 10 years Quarterly

Dual Fund Lifestyle Profile LLD3 5 years Annually Every 6 months for the first 5 Global Equity 50:50/Consensus 10 Year Lifestyle Profile LMP3 10 years years, then monthly after that Global Equity 70:30 Index Lifestyle Profile LLG3 5 years Quarterly

Global Equity 70:30 Index/Fixed Interest Lifestyle Profile LLJ3 5 years Annually

Global Equity 70:30 Index/Over 5 Year Index-Linked Gilts 5 Year Lifestyle Profile LNC3 5 years Monthly

Global Equity 70:30 Index/Index-Linked Gilt Lifestyle Profile LLI3 5 years Quarterly

Global Equity Fixed Weights 50:50 Index/Over 15 Year Gilts 11 Year Lifestyle Profile LNE3 11 years Quarterly

Global Equity Fixed Weights 50:50 Index/Over 5 Year Index-Linked Gilts 11 Year Lifestyle Profile LOB3 11 years Annually

Global Equity Fixed Weights 50:50 Index/Over 5 Year Index-Linked Gilts 6 Year Lifestyle Profile LND3 6 years Quarterly

Global Equity Fixed Weights 50:50 Index/Pre-Retirement 7 Year Lifestyle Profile LLP3 7 years Quarterly

Global Equity Fixed Weights 50:50 Index/Fixed Interest Lifestyle Profile LLL3 5 years Quarterly WorkSave Pension Plan / WorkSave Buy Out Plan 13

LEGAL & GENERAL LIFESTYLE PROFILES.

SWITCHING LIFESTYLE PROFILE NAME CODE SWITCHING FREQUENCY PERIOD

Global Equity Fixed Weights 50:50 Index Lifestyle Profile LC33 10 years Monthly

Global Equity Fixed Weights 50:50 Index/Over 15 Year Gilts 10 Year Lifestyle Profile LNA3 10 years Annually

Global Equity Fixed Weights 50:50 Index/Over 15 Year Gilts 5 Year Lifestyle Profile LLV3 5 years Monthly

Global Equity Fixed Weights 50:50 Index/Pre-Retirement 10 Year Lifestyle Profile LLN3 10 years Quarterly

Global Equity Fixed Weights 50:50 Index/Property 10 Year Lifestyle Profile LMT3 10 years Quarterly

Global Equity Fixed Weights 50:50 Index/Property 7 Year Lifestyle Profile LMU3 7 years Quarterly

Global Equity Fixed Weights 60:40 Index 10 Year Lifestyle Profile LMA3 10 years Annually

Global Equity Fixed Weights 60:40 Index 5 Year Lifestyle Profile LLH3 5 years Quarterly

Global Equity Fixed Weights 60:40 Index/Over 15 Year Gilts 5 Year Lifestyle Profile LMC3 5 years Monthly Quarterly for the first 5 years, Global Equity Market Weights 30:70 Index 75% Currency Hedged/AAA-AA-A Corporate Bond Lifestyle Profile LMI3 10 years then monthly after that Global Equity Mixed Weights 30:70 Index 75% Currency Hedged 10 Year AVC Lifestyle Profile LNU3 10 years Monthly Quarterly for the first 5 years, Global Equity Market Weights 30:70 Index 75% GBP Currency Hedged 10 Year Lifestyle Profile LMH3 10 years then monthly after that Managed Lifestyle Profile LLB3 10 years Annually

Multi-Asset/Over 15 Year Gilts 10 Year Lifestyle Profile LNB3 10 years Monthly

Triple Fund Lifestyle Profile LLE3 5 years Annually

Triple Index/Pre-Retirement Lifestyle Profile LMJ3 10 years Quarterly

UK Equity 5% Capped Passive/Bond/Gilts 10 Year Lifestyle Profile LMR3 10 years Annually

UK Equity Index 5 Year Lifestyle Profile LMF3 5 years 6 Monthly

UK Equity Index 10 Year Lifestyle Profile LLA3 10 years Annually

UK Equity Index/Global Equity Fixed Weights 50:50 Index 10 Year Lifestyle Profile LLO3 10 years Annually WorkSave Pension Plan / WorkSave Buy Out Plan 14

GOVERNED FUNDS

Please note that the ability to perform well doesn’t What are governed funds ? mean that the funds will actually do so – it’s simply not possible to guarantee that. Our governed fund range is a selection of funds we’ve taken from our full range. These funds If we find that a fund no longer has the potential to are selected by us and can be a mixture of those managed by Legal & General and those perform, we will remove it from our governed fund managed by other fund managers. We carry out checks on all our funds to make sure that range and look to replace it with another fund. If your they’re being managed as they should be, although that doesn’t mean there are any scheme offers governed funds and you choose to invest in a fund that we subsequently decide to guarantees about how they will perform. The value of your investments can go down as well remove from our governed fund range, we will write as up. to let you know.

With our governed range, we monitor these funds continuously and more rigorously than the other funds. While this in no way means that they’ll necessarily perform any better than our What governed funds aren’t. other funds, it does mean that you can be sure that each of these funds has the ability to perform well. As well as telling you what governed funds are, we think it’s just as important to let you There are a number of aspects that we monitor on a regular basis. Examples of these are: know what governed funds aren’t. • The fund management process, including details of controls and monitoring in place for each fund. To this extent, there are two really • Past performance of each fund against the stated performance benchmarks. important points you should consider: • The strength of the fund management group, including details of plans that are in place should the fund manager leave the company. The first thing to bear in mind is just because a fund is in our governed range, it doesn’t mean there are any guarantees Have I got access to governed funds? about the way it will perform – the value of your investment can still fall. This will depend on your employer’s scheme. To find out whether these funds are available to you, you’ll need to log into Manage Your The second point is that although a fund is Account. part of our governed range, we’re not saying that it is any more suitable for you Once you’ve logged in, go to ‘Your Pension’ and select the ‘Investments’ tab. If you’ve got than any other fund. Remember, we’re not access to these funds, you’ll see them listed as an option on the left-hand side of the page. giving you advice. WorkSave Pension Plan / WorkSave Buy Out Plan 15

CORE FUNDS

What are core funds ? Has my employer

Core funds are a range of funds that your employer, often together with their adviser, has selected core funds? selected from our full range. These are suggestions for members of your scheme in order to make your investment choice easier. Neither Legal & General nor your employer are To find out whether your employer has selected recommending that these investment options are necessarily suitable for you and your core funds for your scheme, you’ll need to log circumstances. Unless your employer has elected to have a limited fund choice, you will be into Manage Your Account. able to select any fund, combination of funds or a lifestyle profile from our full range if you’d Once you’ve logged in, go to ‘Your Pension’ prefer. and select the ‘Investments’ tab.

Please remember that if you leave your employer, you’ll no longer be presented with core If your employer has selected core funds, you’ll funds but will still be able to choose any of the funds or lifestyle profiles available in Manage see them listed as an option on the left-hand Your Account. side of the page.

If you leave your employer and have chosen to invest in a core fund, your pension pot will continue to be invested in it until you decide to move to a different fund. ABI SECTORS

ABI sectors are defined by the Association of British Insurers (ABI). The sectors are a way of grouping funds with similar characteristics, so they're easier to compare.

To see a description of the ABI sector and what that means for funds within that particular sector, please see the relevant fund factsheet, for the fund(s) you’re interested in, which you can access by clicking on the fund name in the list of funds available to you. WorkSave Pension Plan / WorkSave Buy Out Plan 16

FMC: Fund Management Charge This represents the combined total of the Investment Management Charge What are the (IMC) and Additional Expenses (AE). This charge is accounted for in the unit price and is reflected in the value of charges for your fund. IMC: Investment Management Charge investing? This is a charge made by the fund manager. AE: Additional Expenses This is a variable charge and covers various fees and expenses that fund managers may have to pay. AE can vary throughout the year.

Different funds have different charges. The Total Cost of Running Your Pension Plan You’ll find the latest charges for each fund on the To calculate the total cost of running your pension plan, you should add the relevant fund factsheet. Annual Management Charge (AMC), which covers Legal & General’s administration costs, to the Fund Management Charge (FMC). If you invest in a lifestyle profile, the charges you pay will depend on how much of your pension pot is You will have been given details of the AMC at the time of joining. However, invested in which fund (or funds) at any one time. if you’re not sure what this is, please ask your employer. It’s important to be aware that, in certain circumstances, we may need to make changes to our charges or introduce new charges. For more information about what those circumstances might be, please see your Member’s Booklet.

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