Get your pension season off to an early start

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1 September 2008 Objective Style Size Asset Mix No. of Stocks Volatility/Risk C To offer deposit style returns within a unit linked plan Cash deposit New Fund Cash deposits N/A Low risk The Safe Deposit Fund is a new fund option from Irish Life. This fund offers competitive deposit style returns within a unit linked plan. The Safe Deposit Fund offers a variable rate of ECB+%, currently.2% AER until 3 December The objective of the Safe Deposit Fund is to give you a The Safe Deposit fund is a unit-linked fund. The underlying asset competitive rate of return for your investment. in the fund is in a deposit account with permanent tsb and the interest rates that it will earn are outlined below. The unit price of the Safe Deposit fund will change each day to reflect the interest earned less the fund charge. Interest Rates (after management charge) 00% Initial AER (Annual Equivalent Rate) European Central Bank rate Deposit Account up to 3 December % (currently.2%) AER after 3 December 2009 European Central Bank rate AER after 3 December 200 Variable rate Minimum investment and early encashment charges will apply depending on the product invested in. This fund is suited to investors who are looking to invest in a low risk fund. This fund is a short term opportunity, with a view to investing in other funds on a longer term basis. Irish Life will invest customer payments (less the entry charge) in a deposit account with Irish Life & Permanent plc. This means that if permanent tsb is unable to meet its commitments to Irish Life, then the customer could receive less than the original amount invested in this fund or returns which are less then those stated above. Warning: The value of your investment may go down as well as up. Irish Life Assurance plc and permanent tsb are regulated by the Financial Regulator. Rates quoted are variable and are correct as of September Start Age Projected fund at age. Projected fund at age in today s terms* Standard rate tax payer Projected fund at age. Projected fund at age in today s terms* Higher rate tax payer Put simply, a pension is a long-term savings plan. Like any savings plan, the sooner you start putting money away, the more you will have to spend when the time comes to retire. When you retire, the pension fund you build up can be taken as a lump sum payment up to certain amounts. Anything above this amount is used to provide you with an income (which you must pay income tax on). Just look at the potential fund you could build up by saving 200 a month. ** Whats more, the government helps you save by giving you generous tax relief up to certain limits. So, if you decided to save 200 a month into your pension from your net salary, the government gives you tax relief at the following level.*** Standard tax rate - tax relief 0.2 a month, total contributions 20.2 a month. Higher tax rate - tax relief 0.88 a month, total contributions a month. * The inflation rate over the term of your pension plan is assumed to be 3% per year. The estimated values when you retire have been discounted by this rate to give values in today s terms. ** 200 is the contribution you would make from your net salary, separate to tax relief. ***If you take out a pension plan, you can apply to your Inspector of Taxes to have your tax credits adjusted to reflect your pension contributions. Please see overleaf for assumptions made with figures generated. Low risk fund ILA 82 (NPI 08-08) This is not a customer document and is intended for Financial Advisers only. Get your pension season off to an early start September 2008 Dear broker, It s Pension Season again and I am delighted to bring you some key additions to our Complete Solutions product range. With the current economic and market turbulence, I hope these initiatives help you make the most of this pension season. Three new reasons to invest with Irish Life during the 2008 Pensions Season. Safe Deposit Fund Snapshot We have a range of special offers available on our Pre-Retirement Complete Solutions pension plans We are launching a new fund, the Safe Deposit Fund, which offers a short term home for cautious customers. (Full details given overleaf). Objective Suitability Operation Protected Consensus Pension Plan A safe option for your pension We are bringing another great product innovation to the market with the launch of the Protected Consensus Plan for Company and Personal pensions. With in 2 Irish people with no pension, Irish Life believes that it is hugely important to boost public awareness of the need for pensions. Therefore during pension s season we will be supporting you, by running a TV advertising campaign to hit home this message. Your account manager & pension product team will also be working on the ground to support you. The earlier you start your pension, the more money you ll have to play with later on I would like to take this opportunity to thank your for your continued support in what will hopefully be a very busy period for everybody in these challenging times. Kenny Mellor Broker Pensions Manager

2 Complete Solutions Pensions Special Offers Irish Life has developed the following great offers on our Pre-Retirement Complete Solutions product range for pension s season for both annual and single premiums. These special offers are available from 29/09/2008 to close of business 3/2/2008. Extra Investment Single Premium, External Transfers & Annual Premium Bands* Special Offer Banding Extra Investment Allocation 0,000 to 9, % allocation 20,000 to 29, % allocation 30,000 to 39,999 +.% allocation 0, % allocation These extra allocations are available on all Complete Solutions plans for new business and tops ups. These rates apply to annual premiums set up on a flat commission basis. These rates are also applicable in respect of single premiums or external transfers * Please note: For company pensions, the term must be 0 years or more to NRA, and on Personal Pensions the maximum age is. We have also improved the commission offered on our Pension Term Assurance plan. You will now receive 0% initial and 3% renewal commission for paper proposal forms, and you will receive an extra 0% initial commission for online proposal forms submitted through bline. This means you will receive up to % and 3% renewal by submitting the case electronically through Bline an additional 2% upfront commission.

3 A stop gap investment solution Safe Deposit Fund These are difficult times for anyone with money to invest. While everyone knows that stock markets have consistently given the best long term returns for investors in the past, investing in shares doesn t come without risks. If your customers are concerned about market volatility, and unsure of when the best time is to start their investment, they can now invest in our Safe Deposit Fund, which is available on our Complete Solutions Pre & Post Retirement range and PRSA performance plan. The Safe Deposit Fund rate is currently.2% AER*. This rate is currently ECB + %. The rate will continue to reflect the ECB + % until December The Safe Deposit fund invests customers contributions (less the entry charge) in a deposit account and the interest rates that this account will earn are outlined below. The interest rates shown below are before the deduction of a fund charge, which is shown below. The unit price of the Safe Deposit Fund will change each day to reflect the interest earned less the fund charge. Interest rate (before fund charges) Initial AER* up to 3December 2009: ECB rate** + % AER after 3 December 2009: ECB rate AER after 3 December 200: Current variable rate * AER is the annual equivalent rate applying currently. This is a variable rate ** ECB is the European Central Bank rate which is currently.2% (September2008) but could be higher or lower at the date you decide to invest in this fund. For an update on the current rates applying, log onto Product type Annual Management Charge Charge Complete Solutions Pre Retirement 0.% PRSA Performance.3% ARF & AMRF.% (includes 0.% trail) ARF2 & AMRF2 0.% Executive Performance.3% These rates are offered for a limited period of time as indicated above. It is recommended that customers consider the Safe Deposit Fund as a short term opportunity with a view to investing in other funds on a longer term basis. Irish Life will invest your customers contributions (less the entry charge) in a deposit account with Irish Life & Permanent plc. This means the returns on this fund are provided by Irish Life and Permanent plc (rather than Irish Life Assurance plc).

4 Another great innovation Protected Consensus Plan for pensions The Irish Life Consensus Fund is one of the biggest and most successful funds in Ireland. In the 2 years since it was launched on January 99, the Consensus Fund has grown on average by.93% (gross, August 2008) a year it s no wonder that over. billion has been invested in the fund over that period. Past performance is not a reliable guide to future performance. A quick guide to the Pension Protected Consensus Capital Protection 00% of amount invested is protected on th anniversary. However, for the more cautious investor, who only wants their initial investment to go one way, investing with capital protection is often their number priority. Our Protected Consensus Bond has proved hugely popular since in launch in April 200, with over 80 million already invested. Lock-in benefit: Protected Consensus Fund at outset Lock-in 80% of the highest value at any stage 80% based on Consensus Fund returns 20% based on fixed-interest bond returns That s why we are launching the Protected Consensus for company and personal pension customers, for single premium pensions during pension season. Available for Allocation 00% Company & Personal SP pensions The Protected Consensus Pension plan is offering a safer option for customers investing lump sums into their pension. This plan offers: Surrender penalty for Years, 2, 3 = % transfers before Year = 3% years Year, = % 00% Capital Protection at the end of year ; Customers get access to some of the potential upside of the Consensus Fund over the first years of their pensions saving plan; After year, we will transfer the value into a Cash fund, and customers can then choose to invest their pension fund in a range of funds that will be made available at that time. Invests October tranche Opens st and closes 3st October - Invests th November November tranche Opens st and closes 3st November - Invests 9th December Fund management.% charge The capital protection and the investment returns on the Protected Consensus Fund are provided to us by JP Morgan Chase Bank.

5 ILIM pedigree The Safe Deposit and Protected Consensus Pension funds are managed by Irish Life Investment Managers (ILIM) one of Irelands leading investment managers with over 3 billion of assets under management. ILIM s ability to consistently deliver excellent long-term performance has seen them at the top of investments tables, and win many investment awards including: KPMG 200, 200 Award for Investment Excellence; and 200, 200, 200 Moneymate Awards for Investment Performance Bline Did you know that our website was re-vamped during the summer? Some of the key updates were: Updated layout to the homepage, making it easier to navigate Irish Life breaking news section has been added Client management reporting Please contact your Account Manager to set up a demonstration Technology at your fingertips You can now submit personal and company pension applications electronically through Bline. This will allow you to submit cases online and in real time without relying on manual processing through form filling. This should cut processing time substantially and put you in control. As always, you can still carry out face to face business transactions with clients or capture information offline and submit it later. Power of Self Invested Fund Our Self Invested fund was added to the Complete Solutions product range in February 200. The fund gives your clients the opportunity to have a more hands on investment approach with all the benefits that an insured pension product provides. By using the Self-Invested fund alone or with our carefully selected range of investment funds, your client can create a truly unique portfolio for their pension or retirement fund. Our Self Invested Fund allows your clients to choose where they want to invest their pension funds, while Irish Life will take care of any administration burdens. The broad investment categories which can be used for a Self-Invested Fund are: Individually selected property in Ireland and the UK (restricted property investment may apply to investment only plans) Mortgage with named institutions (Pre-retirement only) Deposit accounts with named institutions Publicly- quoted stocks, shares and Government bonds Other regulated assets such as unit trusts and other collective instruments Assets selected for SIF must meet our asset acceptance policy. Certain assets can incur up-front charges which are not made uniformly during their term and this may result in the value in the early years being less than the original investment. Pensions are long term savings plans that can only be taken at retirement. Pensions may fall as well as rise in value. Minimum investment in the SIF is 0,000. There is a minimum SIF fund management charge of 00.

6 Your Investment Tool Kit With the current economic and market turbulence affecting customer sentiment and the impending Pension Tax Deadline, the Safe Deposit Fund and the Protected Consensus Pension plan give you a broader range of investment solutions for your pension clients. The following chart outlines a snapshot of the funds we offer through our pension products. Fund Name Asset class Risk Rating Cash Fund Capital Protection Fund Secured Performance Fund Safe Deposit Fund Protected Consensus Pension Fund Secure Funds Consensus Fund Irish Life Active Managed Fund Diversified Assets Fund Logic Mixed-Asset Funds Irish Life Pension Property Fund Irish Life Property Portfolio Fund Irish Life UK Property Fund Eurasia Property Fund Eurasia Property Plus Fund Property Funds Pension Protection Fund Fixed Interest Indexed Fund Fixed Interest Funds 2 2 Irish Life Global Opportunities Fund Global Select Fund Tomorrow s World Fund Fidelity Managed International Fund Fidelity EMEA Fund Fidelity Global Special Situations Fund Fidelity Global Property Shares Fund Fidelity European Opportunities Fund Fidelity India China Fund Fidelity India Fund Fidelity China Fund Bloxham High Yield Fund Bloxham Contrarian Fund Bloxham Intrinsic Value Fund Bloxham Global Alpha Fund Actively Managed Equity Funds Consensus Equity Fund Irish Equity Indexed Fund UK Equity Indexed Fund European Equity Indexed Fund North American Equity Indexed Fund Japanese Equity Indexed Fund Pacific Equity Indexed Fund Indexed Equity Funds Indexed Commodities Indexed Commodities Fund Self-Invested Fund N/A Risk Irish Life Assurance plc is regulated by the Financial Regulator. ILA 88 (NPI 09-08)