Switch instruction. 1. Planholder details. For customers Retirement Control

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1 For customers Retirement Control Switch instruction About this instruction You should use this form to switch funds under your plan. Which sections do you need to complete? Where you re using this form for a Phased Retirement Plan, please complete sections 1, 2 and 5. Where you re using this form for a Retirement Cash Account plan, please complete sections 1, 3, 4 and 5. Please read the Switch instruction notes in section 6 before you fill in this form. Once you ve completed it, you should send it to: Retirement Control department Aegon Edinburgh Park Edinburgh EH12 9SE Fax: If you send it to another one of our offices, your switch could be delayed, which could affect the prices we use. You should enter the exact fund name(s). You can do this by going to and selecting other fund ranges. Where no clear and complete investment choice is made, we ll invest the units/contributions in accordance with our investment fund allocation procedure. We ll only use the phone number you give in section 1 to contact you about your switch instruction. If we receive an incomplete instruction or the instruction isn t clear, we ll phone you to tell you. 1. Planholder details Please complete this form in BLOCK CAPITALS and ballpoint pen. Title Mr / Mrs / Miss / Ms / Other please specify Full forename(s) Contact telephone number Plan number(s) Surname

2 2. Phased Retirement Plan Please complete the tables below to conirm disinvestment of existing units and their subsequent reinvestment. Please insert the name(s) of the funds you want to switch from and the percentage of units you want to switch from each in table 1. In table 2, please insert the name(s) of the fund(s) you want to switch to and the percentage of the total amount being switched that you want to allocate to each fund. It s important that your switch into new funds equals 100%. There s an example of how to complete these tables in section 6. If you want to switch funds from/to more than ten funds please give the details on a separate sheet, sign and date that sheet, and attach it to this form. If you want to switch out of a With-Profits fund, please make sure you read the notes in section 6 before doing so. 2.1 Switching existing units From (table 1) To (table 2) 2.2 Alteration of future contributions If you want to alter the fund choice or investment split for future contributions, please complete the table below. If you don t complete this table, future contributions will be invested as set out in the investment fund allocation procedure that applies to your plan. Page 2 of 8

3 3. Retirement Cash Account income drawdown Do you want this switch instruction to apply to all of your Income Access Accounts within your plan? Yes please complete the first pair of tables only. No please complete a pair of tables for each Income Access Account affected, and insert the relevant Income Access Account number (which can be found on your statement) in the box. Please note, some of your statements or literature may refer to Income Access Accounts as tranches. If you want to switch out of a With-Profits fund, please make sure you read the notes in section 6 before doing so. / From To From / To Page 3 of 8

4 3. Retirement Cash Account income drawdown continued / From To If you have more than four Income Access Accounts, please continue your instruction clearly on a separate sheet of paper, and sign and date the separate sheet and attach it to this instruction. 4. Future income payments If you want to target a speciic fund in respect of your income withdrawals after your switch of fund(s), please conirm this in the table below. You can only deduct income from a fund that you re invested in, in each individual Income Access Account/tranche. Fund that income is to be deducted from Page 4 of 8

5 5. Authorisation In this authorisation, I means the planholder and you means Aegon. I, the planholder named in section 1, instruct you to carry out the switch of funds in accordance with this instruction. I note that this switch instruction is subject to the notes below. Where this instruction includes a switch into a fund which becomes available after the commencement date of the above plan(s), I agree to the endorsement of the plan(s) in accordance with the provisions below. Date D D M M 2 0 Y Y Signed (by planholder) Switch instruction notes Switch constraints Switches are subject to certain constraints. The minimum total value switched must be 1,000. The residual value in any fund after the switch must be 200. The minimum amount which can into any one fund is 200. There can be no switch out of the Non-Proit Deferred Annuity Fund. If we receive switch instructions at our head oice before 12 noon, we ll use the bid (or fund) prices set on the next business day to carry out your switch. If we receive it at or after 12 noon, we ll use the bid (or fund) prices set on the second business day after we receive it. Where switch instructions are received by post, they ll be treated as having been received at 8am on the day of receipt at our head oice. If this day is a non-business day then they will be treated as having been received at 8am on the next business day. Where a switch instruction is sent to another part of Aegon, rather than direct to our head oice, we ll make arrangements for the forwarding of the instructions to our head oice. However, we ll not be responsible for any delay in switch instructions reaching our head oice, or for any instruction which doesn t reach our head oice. We reserve the right to defer Property Fund switches by up to one year. For any other funds, we reserve the right to defer switches by up to one month. Switch charges Any restrictions on the number of switches or on the number of free switches (and the switch charge that applies, if any) are contained in the policy conditions booklet or other literature issued by us. Where the instruction includes a switch into a fund which became available after the plan s commencement date, the plan is endorsed to include our current standard provisions for new funds made available since the said commencement date, and we ll make available the endorsement to the member. With-Profits guarantees Potentially valuable investment guarantees will be lost if you switch out of With-Proits funds before the retirement date you selected when you took out your plan. Once you switch out of these funds you won t be able to switch back in. If you re unsure, we recommend you speak to your adviser. You can ind more information at Page 5 of 8

6 6. Switch instruction notes continued Market value reduction We may apply a market value reduction on withdrawal or switch out of the With-Proits fund (Option 1), the High Equity With-Proits fund or the Deposit Administration fund. No market value reduction will apply on switching to the Cash fund at selected retirement age. It s not possible to switch into the High Equity With-Proits fund or the Deposit Administration fund if your plan was taken out on or after 1 October Smoothing adjustment A smoothing reduction or increase may apply on switches or withdrawals out of the With-Proits Growth fund and the With-Proits Cautious fund. Clear and complete instructions For us to act on any switch information, it must be fully complete and clear. Where we reasonably decide that the switch information is not fully complete or is not clear, we ll not act upon it and will let you know as soon as possible. If we then receive a clear and complete instruction from you we ll treat the instruction to be received at the date and time we receive the clear and complete instruction. Aegon is a brand name of Scottish Equitable plc. Scottish Equitable plc, registered oice: Edinburgh Park, Edinburgh EH12 9SE. Registered in Scotland (No ). Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number An Aegon company Aegon UK plc RET /17