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Benefit Statement 2020/21 and protect your savings on the MoneyHelper website.

Jl01099 0731417 017471 OVER0DLN

Mr. GB Baranowski Your annual Benefit Statement tells you:
9 Harlod Street 1 > how much money you already have in your
Grimsby
Ne Lincs pension savings
DN32 7LR 2 > how much money you could have on 30/05/2064,
when you plan to retire
3 > what you could do to save more money
Important - only to be opened by the addressee for retirement.

Employee reference: NPLU004485003208

Find out more about your Benefit Statement at:
Employer reference: AAAC
Employer name: Recroot Limited nowpensions.com/members/investing-your-
savings/my-annual-benefit-statement/

1 > How much money you already have in your pension savings:

£350.79 £202.26 £0.00 £553.05

Money you’ve saved
into your pension + Money added to your
pension savings by your + Money you’ve
transferred in from = The total amount in
your pension savings
since you joined employer, tax relief from other pension on 31 March 2021
the Scheme the government and schemes
investments

This year
You have saved into your pension £0.00
Your employer has added £0.00
Additional voluntary contributions £0.00
Our monthly administration charges -£18.00
You’ve transferred money in from another pension scheme £0.00
Adjustments (find out more below) to your contributions £0.00
to the charges you’ve paid £0.00

Costs and charges What is the ‘adjustment’ for?

As a member of the NOW: Pensions Trust (‘the Scheme’) you pay two If we found that something wasn’t right in your account because of an
different charges: administrative error, we made an adjustment. Find out more about
• a monthly administration charge of £1.50 to cover the cost of adjustments here.
running the Scheme, and
Find out more about your pension. We explain how:
• an annual management charge of 0.3%, which covers the cost of
investing your money. • our Scheme works
• we invest your savings (you can find out more about this in our
Find out more about the cost and charges that apply to the Scheme
Statement of Investment Principles)
and how they might affect the value of your pension savings over time.
• we ensure the Scheme is run in your best interests in
our Chair’s Statement
Important changes to your monthly administration charge
We expect a new charging limit to come in from April 2022. This means • to transfer money in from another pension scheme.
we won’t deduct the monthly administration charge if your savings If you can’t access our website, or you want a printed copy of any of this
in the Scheme are £100 or less. information, get in touch using the details on the next page, and we’ll
We will increase our monthly administration charge from £1.50 a month to post it to you.
£1.75 a month in April 2022. Please check our website for regular updates.

Transferring your money

If you’d asked us to transfer your money to another pension scheme
on 31 March 2021, we would have transferred £553.05.

70198759_AAAC_BARANOWSKI Mr. GB Baranowski

9 Harlod Street

Grimsby
NPLU004485003208 | 1
Ne Lincs
00017471 00000001 553.05 NPLU004485003208 AAAC ST716108A 70198759 FIRST N poludniowastrona18@gmail.com

DN32 7LR
 2 > How much money you could have on 30/05/2064, when you plan to retire:
Your pension
savings could
be worth
£1,665.00
How we worked out the future value of your pension savings
We use a method called a Statutory Money Purchase Illustration (SMPI)
to work out your future pension estimates. All pension providers must
use this method.
Your SMPI assumes you’ll use your pension savings in the Scheme to
buy a pension – an income for life, also known as an annuity – when
you retire. It shows an estimate of the amount of pension you might
get in today’s money. (You don’t have to buy a pension – other options
are available.)
We started with the value of your pension savings on 31 March 2021.
But a lot of things can affect the value of your pension between that
time and when you decide to retire, so we had to make assumptions
to work out your pension estimate.
Assumptions about costs, charges, contributions and inflation
• The values and investment unit prices in this benefit
statement for 31 March 2021 are correct.
• Costs and charges are the same as they were on 31 March 2021.
3 > Staying in touch
Keep your email address up to date
The quickest way for us to keep you up to date with your pension
savings is by email. Remember, you can add or update your email
address via your member account at www.nowgatewayx.com
(you’ll need the email address you registered with, or your unique
NOW: Pensions contract ID number, to log in).
Log into your account.
4 > Other things to think about
What you could do to save more money for retirement
Before you make any decisions, it’s worth thinking about how
much money you’re likely to need when you retire. Look at
retirementlivingstandards.org.uk for suggestions of how much
income you might need for different standards of living. Remember,
you may get an income from other places – such as the State Pension.
See what you could do to save more for your retirement.
70198759_AAAC_BARANOWSKI
00017471 00000002 553.05 NPLU004485003208 AAAC ST716108A 70198759 CONT N poludniowastrona18@gmail.com
You can use the money in your pension That income
savings in several ways. We’re only showing could be worth
you what you might get if you turned it into
an income for life – also called an annuity.
£31.00
a year
Assumptions about investment
• We invest your pension savings in the Diversified Growth Fund until
15 years before you’re due to retire. Then we gradually switch most of
them to the Retirement Countdown Fund.
• The investment funds will grow at the following rates after all
investment-related costs and charges are deducted:
• Diversified Growth Fund: 6% a year
• Retirement Countdown Fund: 0.68% a year.
What happens in reality may be different from these assumptions.
For example the investments might be different, and perform
differently, from what we’ve assumed.
Assumptions about how you use your pension savings
• You will use your pension savings in the Scheme to buy a pension
(an annuity).
• Your pension won’t increase.
• Your pension won’t include a spouse’s or civil partner’s pension.
These pension figures are estimates in today’s money. What actually
happens will be different from what we’ve assumed, so these figures
don’t come with a guarantee. For example, you may not buy a pension
(annuity). If you do buy a pension, its value depends on things like
investment performance and the cost of buying an income,
which may be different from the assumptions we’ve made here.
So we can’t promise these figures show the actual amount of money
you’ll get. You could get more or less than this amount. These figures
are a guide to help you plan for the future.
If you’d like more information about your SMPI, please contact us using
the details below.
There are other projections of future benefits in our ‘Costs and charges
explained’ leaflet, produced using the same assumptions.
Web: www.nowpensions.com/
Email: membersupport@nowpensions.com
Call: +44 (0) 330 100 3334 (9am to 5pm, Monday to Friday).
Write: NOW: Pensions, St James’s Tower, 7 Charlotte Street,
Manchester M1 4DZ.
To help us help you faster, please quote your full name, address and
National Insurance number when you contact us.
This statement is for illustrative purposes only; it is not a legal document and confers no right to the benefits,
which are subject to the Trust Deed and Rules of the NOW: Pensions Trust.
Data protection
We take data protection very seriously. View our Privacy policy here.
Information correct as at September 2021 | NP/L0002/09/2021 Company registration number: 07766398.
VAT number: 125511643. Registered in England and Wales. Registered office: 6 Bevis Marks, London EC3A 7BA.
Mr. GB Baranowski
9 Harlod Street
Grimsby
NPLU004485003208 | 2
Ne Lincs
DN32 7LR