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Projected Benefits at proposed retirement date

Effect of deductions in earlier years assuming the fund grows by 7% per annum

At proposed retirement age, £ total deductions could be which would have the effect of reducing the yield from 7% by % down to %

IMPORTANT NOTES AND INFORMATION ABOUT THIS ILLUSTRATION

PLEASE READ OUR KEY FACTS DOCUMENT TO HELP YOU DECIDE WHETHER OUR SIPP IS RIGHT FOR YOU.

• The growth projections of 3%, 5% and 7% are based on Financial Services Authority rules which all FSA regulated firms follow
• Liberty can not advise on the use or interpretation use of these figures. If you need any help we strongly recommend that you speak to a suitably qualified Financial Adviser.

Funding Details

• We have assumed that no benefits have previously been drawn from any of the transferred funds.
• We have assumed that all contributions are within the limits for full tax relief.

Charges

• Liberty fees include VAT and assume that you have no Protected Rights (for more information about these please see our website), and that you will make one transfer in and one investment. In practice your fees would be tailored to what you actually do with your SIPP
• No allowance has been made for any increases in Liberty's fees or for any Investment Management Fees
• Where financial advisor's fees are based on a percentage of the fund value, the fund value including the current year's contributions is used.

Projection of Benefits

• The figures assume steady growth of 3%, 5% and 7% p.a. but actual growth is likely to be more erratic and could at times be higher, lower or even negative.
• Investment growth is applied to the net amount each year (ie once all payments and contributions have been made).
• We have taken not account of the Lifetime Allowance so the pension quoted could be subject to Lifetime Allowance charges.
• We have assumed that all funds will be used to provide benefits in the form of an unsecured pension, often called "Income Drawdown", at your chosen age
• Alternatively, you could use the fund value to buy an annuity with a life office. The level of pension would be calculated on their annuity rates.
• The pension quoted uses current Government Actuary's Department Rates ("GAD rates") which are updated monthly. The minimum pension you can draw is 0% of the GAD pension, and the maximum is 120%. This illustration assumes you will take the maximum.
• The pension quoted is before any deduction of income tax.
• The benefits quoted are guaranteed. The level of pension depends on the investment performance and the rates that apply at the time you retire.

Payment of pension

• Your pension will be paid net of basic rate income tax until we are given your tax code.
• Up to age 77 the maximum pension that can be taken from the Scheme is reviewed at least every 5 years and will be calculated on the remaining funds and GAD rates for your age at the time.
• By age 77 you must have bought an annuity on the open market or continued Drawdown in the form of an Alternatively Secured Pension from your fund. This will always be based on the GAD rate at age 75 regardless of age, and the limits will be between 55% and 90% of the GAD pension rather than 0% to 120%