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Welcome Break Pension Plan

In accordance with regulation 23(1)(ca) of the Administration Regulations, as inserted by the 2018 Regulations, the Trustees have prepared an illustration detailing the impact of the costs and charges typically paid by a member of the Plan on their retirement savings pot. The statutory guidance provided has been considered when providing these examples, showing projections for the default fund, the cheapest fund and the most expensive fund for members.

The below illustration has taken into account the following elements:

  • Savings pot size;
  • Real terms investment return gross of costs and charges;
  • Adjustment for the effect of costs and charges; and
  • Time

The Plan only has deferred members.

The illustration includes all member costs, including the Total Expense Ratio, transaction costs and inflation.

Year
Default Fund 0.25% (TER % p.a.)
Multi Asset Fund
Pot size with no Charges Incurred
Pot size with Charges Incurred
Least Expensive Fund 0.10% (TER % p.a.)
Index Linked Gilt Fund
Pot size with no Charges Incurred
Pot size with Charges Incurred
Next Most Expensive Fund 0.18% (TER % p.a.)
Blended Fund
Pot size with no Charges Incurred
Pot size with Charges Incurred
1
10,400
10,374
10,050
10,040
10,300
10,281
5
12,167
12,015
10,253
10,201
11,593
11,489
10
14,802
14,436
10,511
10,407
13,439
13,199
15
18,809
17,345
10,777
10,617
15,580
15,164
20
21,911
20,841
11,049
10,830
18,061
17,421
25
26,658
25,041
11,328
11,004
20,938
20,015
30
32,434
30,087
11,614
11,217
24,273
22,995
35
39,461
36,150
11,907
11,498
28,139
26,419
40
48,010
43,436
12,208
11,729
32,620
30,352

Notes:
1. Projected pension pot values are shown in today’s terms, and do not need to be reduced further for the effect of future inflation.
2. The starting pot size is assumed to be £10,000.
3. Inflation is assumed to 2.5% p.a.
4. Values are estimates and are not guaranteed.
5. The default fund shown is as at the growth phase (16 years prior to retirement).
6. The net projected growth rates for each fund are as follows:

Multi Asset Fund
Index Linked Gilt Fund
Blended Fund
3.75% p.a.
0.40% p.a.
2.82% p.a.

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