Summary of terms and conditions for The Unite Group GPP

We have made arrangements to automatically enrol you into a qualifying workplace pension
scheme, in accordance with the requirements of the Pensions Act 2008 and related legislation.
The main features of the pension are as follows;

 It is a Group Personal Pension arrangement, provided by Scottish Widows.

 Scottish Widows is authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and Prudential Regulation Authority.
 The payments made into the Group Personal Pension arrangement will be invested in a
pension plan set up in your own name.
 It aims to build up a pension fund for you in a tax-efficient way which will help support you in
retirement, alongside any other benefits you may be entitled to, such as the State Pension.
 Scottish Widows will provide you with information about your plan and the options available to
you. They will also make available to you information about retirement planning in general.
 Scottish Widows will collect employer and employee payments via our payroll system. Your
monthly employee payments and the employer payments we will pay on your behalf are
detailed on the notification you have received.

 You may choose to make additional payments directly to Scottish Widows and transfer the
value of any other pension arrangements you have to your Scottish Widows plan.
 Scottish Widows will claim basic rate tax relief on employee payments, and any additional
payments you choose to make. You may be able to claim further tax relief via your Self
Assessment tax return.
 Scottish Widows will initially invest your payments in the default investment option for your
plan, which is the Scottish Widows Balanced Pension Investment Approach (Targeting
Flexible Access). This invests in a mix of different asset types, including equities, bonds and
cash, but gradually moves from higher risk to lower risk investments, starting 15 years from
your stated retirement date. This process is often referred to as ‘Lifestyling’ and although it
reduces the potential for growth, it can protect investors from large falls in the value of their
investment at a point when they may be about to take their benefits.
 Once your plan is set up, you can choose your own investments from the range of additional
investment options available to your plan. These include options managed by Scottish
Widows and from a wide range of the world’s best known fund managers. The charges for
these other options may be higher than those which apply to the default investment option. If
you choose to invest in these options, you will be responsible for regularly reviewing your
investment choices to ensure they continue to meet your needs and objectives. If you need
help in deciding how your plan should be invested, please speak to a financial adviser.
 Scottish Widows will send you a statement once a year which will summarise the payments
made to your plan during that period, confirm the current value of your pension fund, help you
understand how your plan is performing, and show what you might get back at your selected
retirement date. Scottish Widows can also provide you with this information on request at any
point in time.
 At retirement, subject to any minimum requirements at the time, you can choose to use the
value of your plan to provide retirement benefits in one or more of the following ways:
  buy an annuity (a type of plan that pays a secure income for at least the rest of your
life) from Scottish Widows or another annuity provider, and pay a tax-free cash sum
(normally a quarter (25%) of the value of your plan) if you want it,
 pay one or more cash sums, a quarter (25%) of which will be paid tax-free
 provide a flexible income from your plan, and pay tax-free cash (normally a quarter
(25%) of the value of your plan) if you want it and/or
 choose to transfer the value of your plan to another pension provider, either to take
retirement benefits or to continue to invest your plan.

 You can normally start taking retirements benefits from your plan from age 55 (age 57 from
2028), even if you have not retired.

 The maximum age you can remain invested in your Scottish Widows plan is age 99.
However, no further payments can be made into your plan after age 75.

 If you move to a new employer, you can keep your plan invested with Scottish Widows or you
can normally choose to transfer the value of the plan to another pension arrangements,
including any arrangement offered by your new employer. Scottish Widows does not make
any charges for transfers.
 Scottish Widows will deduct charges from your plan to cover the costs of administering and
investing the plan. The Total Annual Fund Charge of is made up of the following:
 Annual Management Charges (AMCs) of 0.10%– the cost of managing each
investment fund, deducted daily and reflected in the calculation of unit prices.
 Fund Expenses (FEs) of 0% – any additional costs linked to operating each
investment fund, including legal, auditor and custodian costs, deducted daily and
reflected in the calculation of unit prices.
 Fund Based Charge (FBC) of 0.30%- the cost of operating your plan, calculated daily
and deducted each month by selling units from your plan.

The Total Annual Fund Charge for your plan is 0.40%.