KEY FEATURES. RDR. This is an important document that you should read and keep in a safe place. You may need to read it in the future.

Transcription

1 RDR PORTFOLIO PLUS PENSION KEY FEATURES portfolio plus pension 1 KEY FEATURES. This is an important document that you should read and keep in a safe place. You may need to read it in the future.

2 2 PORTFOLIO PLUS PENSION KEY FEATURES ABOUT US. The Legal & General Group, established in 1836, is one of the UK s leading financial services companies. As at 30 June 2017, the total value of assets across the group was billion, including derivative assets. We also had over 9.5 million customers in the UK for our life assurance, pensions, investments and general insurance plans. WHAT ARE KEY FEATURES? The Financial Conduct Authority is a financial services regulator. It requires us, Legal & General, to give you this important information to help you to decide whether our Portfolio Plus Pension is right for you. You should read this document carefully so that you understand what you are buying, and keep it safe for future reference. This document is a guide to the key features of our Portfolio Plus Pension, referred to as the plan throughout this document. When you take out the plan you become a member of the Legal & General Portfolio Plus Self Invested Personal Pension Scheme. This is an HM Revenue & Customs (HMRC) UK Registered Pension Scheme.

3 PORTFolio PORTFOLIO PLUS PENSion PENSION KEY FEATURES 3 OTHER DOCUMENTS. It s important you understand how the plan works and what the risks are before you buy. The full Key Features consists of: this document, the accompanying Illustration(s), and the Portfolio Plus Pension (investing in insured funds) Terms Sheet, or if you are exercising the self-investment option, the Portfolio Plus Pension (with self-investment) Terms Sheet. You can find more details about the plan in the Portfolio Plus Pensions Member s Booklet, which will be issued to you when your application for the plan is first accepted. The relevant Terms Sheet accompanies this Key Features. You should also read the Portfolio Plus Funds Guide for Insured Funds and, if you are taking income drawdown, the Guide to Income Drawdown. These documents are available on request from us or your adviser. If you re exercising the self-investment option, please speak to your adviser for details on collective investments available from Cofunds* and other self-invested assets. *We have a partnership agreement with Cofunds Limited (Cofunds) to offer self-investment through a wide range of unit trusts and Open Ended Investment Companies (OEICs). We refer to these investments as collective investments available from Cofunds throughout this document. If you would like more information about Cofunds and the services it provides, please ask your adviser.

4 4 PORTFOLIO PLUS PENSION KEY FEATURES WHAT A GLANCE IS THE PLAN? The plan is a money purchase (defined contribution) The plan is personal pension. It s a tax efficient personal pension. It s a tax-efficient way of saving way of investing for your future in an extensive for your retirement. When you first start your plan range of insured funds. It also offers income you can initially invest in a wide range of insured drawdown, which provides you with the funds but if you require more investment flexibility flexibility, after the age of 55, of taking an income at a later date, it has an option that allows and/or a cash lump sum without purchasing self-investment. an annuity. You can access your pension pot at any time from If your circumstances changes and you require age 55. The plan will allow you to take part of your more flexibility, the plan also has an option that pension pot as a tax-free cash lump sum when you: allows self-investment. use some or all of your pension pot for income INSURED FUNDS drawdown, There take are cash over lump 300 insured sum payments funds managed directly from by a number your pension of investment pot, management groups. The full range of funds available is set out in the use your pension pot to buy a guaranteed Portfolio Plus funds Guide for Insured funds, income for the rest of your life - this is called available from your adviser. The value of insured buying an annuity. funds is not guaranteed. You can start a plan if you re under age 74 and a UK resident. Our Portfolio Plus Pension isn t suitable for auto-enrolment. Self-investment SELF-inVESTMENT Self-investment gives you greater control over where your pension pot fund is is invested. invested. Under Under self- self-investment you you make make the investment the investment decisions decisions yourself. Self-investment requires you to have a good understanding of each investment you choose as well as the costs and risks involved. There are specific charges associated with self-investment and in certain circumstances these may be be high in in comparison to the amount of of any transaction. Self-investment is not appropriate for everyone. It We is recommended you that speak you to speak your to adviser your adviser before before exercising using the this option. option. Please see the self-investment Self-investment option section on page for more information. INSURED FUNDS Self-investment Self-investment There is a wide gives range you of insured greater funds control managed over where by a number your pension of investment fund is invested. management Under selfinvestment groups. The you full make range the of investment funds available decisions set yourself. out in the Portfolio Plus Funds Guide for Insured Funds. Please see the Insured Funds section on page 9 for more information.

5 PORTFOLIO PLUS PENSION KEY FEATURES 5 Key features of THE Portfolio plus pension. its aims Different minimum requirements apply to income drawdown. Please see the Terms Sheet for more information. To build up a pension pot in a tax-efficient way. To allow you to exercise the option of investing in self-invested assets. To provide you with an income and/or cash lump sum(s). To provide an income or cash lump sum for your dependants or beneficiaries if you die before you ve accessed all of your pension pot. YOUR COMMITMENT To start a plan the minimum amounts we can accept into insured funds are: Regular contributions of 200 (gross) a month or 2,400 (gross) a year, or Single contributions of 5,000 (gross), or Transfer payments from other pension schemes of 5,000 in respect of a pension pot not currently being used for income drawdown. Please note, if you are starting a plan with a single contribution of at least 30,000 (gross) or a transfer value of at least 30,000, the minimum regular contribution is 100 (gross) a month or 1,200 (gross) a year. To add to your plan the minimum amounts we can accept are: There is no minimum increase for regular contributions, but the minimum level to start making regular contributions is 200 (gross) a month, or 2,400 (gross) a year, into insured funds. However, if the value of your pension pot is at least 30,000, the minimum level to start making regular contributions is 100 (gross) a month, or 1,200 (gross) a year, Single contributions of 1,000 (gross), or Transfer payments of 1,000 in respect of a pension pot not currently being used for income drawdown. All contributions and transfer payments made to your plan are normally tied up until you access your pension pot, which is usually any time from age 55. To exercise the self-investment option, the following criteria must be met: At least 30 calendar days have elapsed since your plan started, and The total value of your insured funds is at least 25,000. To reach the minimum amount required you can make a single contribution or transfer payment as part of the application. Once you ve exercised your option, you can invest in collective investments available from Cofunds. You may also choose other permitted self-invested assets, but to do this you must have and maintain at least 25,000 in insured funds and/or collective investments available from Cofunds (unless we agree otherwise). To tell us if your circumstances change, such as: You trigger the Money Purchase Annual Allowance (please see the Annual Allowance section on page 9). You become a non-uk resident.

6 6 PORTFOLIO PLUS PENSION KEY FEATURES RiSKS The value of your investments can fall as well as rise, so the value of your pension pot is not guaranteed. It is particularly important to remember this if you re close to accessing your pension pot or if you ve used it for income drawdown. The investments you choose will have specific risks. For insured funds, these risks are described in the Portfolio Plus Funds Guide for Insured Funds. For self-invested assets the associated risks may vary depending on the categories of the underlying investments chosen. Please ask your adviser for details of the risks associated with self-invested assets. You should also read the Key Features document, Simplified Prospectus, Key Investor Information Document (KIID) or other similar documents that may be issued by the provider of any underlying investments. If you invest in complex investments (such as derivatives and hedge funds) you should make sure you accept the risks. The charges taken out of your pension pot may go up. Please see the What are the charges? section on page 10 for more information. If you have registered for protection against Lifetime Allowance charges you would have applied to HMRC. Depending on the protection you have, any contribution to this plan may mean that you lose this protection. When you access your pension pot, this could affect your tax position. Please see the What is the tax position? section starting on page 8 for more details. If you take too much money from your pension pot, you may not have enough left to provide you with a sufficient level of income. The cost of buying an annuity, if you choose to do this, can go up and down, which will affect the level of income you re paid in the future. Please see the What will affect my pension income? section on page 11. Rights to means-tested State benefits could be affected when you access your pension pot. For more information, visit the Department for Work and Pensions website at gov.uk/dwp WHAT Will THE PLAN PROVIDE The information in this document is based on our understanding of current law relating to pensions. The law and tax rates may change in the future and the value of tax relief will depend on your individual circumstances.

7 PORTFOLIO PLUS PENSION KEY FEATURES 7 questions and answers. This section answers some important questions about the Portfolio Plus Pension to give you a better idea of how it works and the options available to you. WHAT Will THE PLAN PROVIDE for ME? The accompanying Illustration(s) shows what kind of pension pot you could build up, taking into account charges over the period, and shows how much pension income it could provide for you. If you are applying for income drawdown, the accompanying Illustration(s) is based on the level of income that you have requested and shows what your pension pot could be worth at the date that we assume you will buy an annuity. Your actual pension pot could be less than shown in the illustrations issued to you from time to time because: investment growth could be lower than is assumed; contributions are stopped or are less than those assumed; the deductions could be more than is assumed; and the amounts you take through income drawdown may be more than is assumed. We will send you yearly statements showing the value of your plan. You can ask for an additional statement at any time. can I make transfer payments TO MY PLAN? We recommend you speak to an adviser before deciding to transfer any pension pot to us. You may be required by law, or we may insist you get financial advice before we can accept any of the following types of transfer payments: a defined benefit or final salary scheme, pensions with safeguarded rights, pensions invested in with profits. If you re unsure what type of scheme you have, the provider can confirm this when they calculate the transfer value for you. If you re making a transfer payment into your plan, you should consider the following. You should check with your provider if you are unsure about any of the detail. How do the charges compare? How do the investment fund choices and past performance compare? Please remember that past performance is not a guide to future performance. Will your provider charge a transfer penalty? Will you lose out on any valuable features such as a loyalty bonus, guaranteed additions, guaranteed annuity rates or protected tax-free cash? Will you lose any waiver of premium or life assurance cover? Do you want to bring all your pension pots together or do you want the flexibility to access your pension pots at different times or in different ways? Will bringing together your pension pots offer you greater flexibility and easier management of your retirement planning? Yes, you can make transfer payments into your plan from other UK Registered Pension Schemes or from Qualifying Recognised Overseas Pension Schemes. We can accept transfers of pension pots that aren t being used for income drawdown or that are already fully used for drawdown. If you wish to transfer in a pot that is currently in full Capped Income Drawdown, we will convert it to Flexi-Access Drawdown upon receipt. If you then take any money out of your pension pot, this could affect your Annual Allowance. Please see the What is the tax position? section starting on page 8 for more information.

8 8 PORTFOLIO PLUS PENSION KEY FEATURES HOW CAN I PAY ConTRIBUTionS? WHAT HAppENS IF I CHANGE MY EMploYER? You can pay regular contributions into insured funds by Direct Debit on a monthly or yearly basis. Single contributions can be paid by cheque at any time. Your employer and any other person (called a third party) can also contribute to your plan. If you exercise the self-investment option, please note it is not possible to pay directly into self-invested assets. Cheques representing contributions for self-investment will be placed in the Member s SIPP bank account pending investment instructions. Please see your Terms Sheet for more information about the Member s SIPP bank account. No further contributions can be paid into the plan once you use all of your pension pot for income drawdown. CAN I CHANGE MY CONTRIBUTIONS? You can increase or reduce your regular contributions at any time. The amount of any contribution you make must meet our minimum requirements at that time. For details of the current minimum contribution levels, please see the Your commitment section on page 5. You can also choose to have regular contributions automatically increased each year - this is called indexation. For more information, please ask your adviser. what happens if i stop making contributions? You can stop making contributions at any time. Your pension pot will remain invested and charges will still be deducted. You can start making contributions again at any time, unless you are in full income drawdown. Your plan is not tied to your employer, so you can continue to pay into it. If your employer was deducting your contributions from your salary and you leave that employment, you will need to complete a new Direct Debit instruction to keep paying in. Please ask us if you d like a new Direct Debit instruction. If your new employer has a pension scheme, it s usually best to join as they can also make contributions. Even if you join a company pension scheme, you can also pay into this plan. WHAT IS THE TAX POSiTion? ContriBUTions There s no limit on how much you can pay into your pension pot, however, there is a limit on the tax relief available. Your contributions before basic rate tax relief is added are net contributions. We add tax relief up to the basic rate, which we reclaim from HMRC, on the contributions you make. Your contributions after basic rate tax relief is added are gross contributions. If you have no earnings, or earn up to 3,600 in a tax year, you can contribute 2,880 net across all your pension schemes and get tax relief of 720, giving you a gross contribution of 3,600. If you earn more than 3,600 in a tax year, you can get tax relief on 100% of the earnings you contribute up to the Annual Allowance. For example, if you pay 80 a month as your net contribution, we currently add 20, as the basic rate of tax is 20% ( 80 divided by 0.8 = 100). Your contract is for the gross contribution, so if the basic rate of tax changes, the amount you pay will change. If you re a higher/additional rate taxpayer, you can reclaim any further tax relief through your yearly tax return. Tax relief does not apply to: Transfer payments. Employer contributions. Any contributions on or after your 75th birthday. When you reach age 75 your regular net contribution will increase as your contract is for the gross contribution and the tax relief will no longer be added. WHAT HAppENS IF I CHANGE WHAT

9 PORTFOLIO PLUS PENSION KEY FEATURES 9 AnnUAL ALLOWANCE The Annual Allowance for the 2017/2018 tax year is 40,000. If the total gross contributions paid by you, your employer or a third party, into any UK Registered Pension Scheme you ve taken out are over the Annual Allowance, you ll be subject to a tax charge. If you re also in a final salary pension scheme (defined benefit), your gross contributions for that scheme will be based on the increase in the value of your benefits during the tax year. In some circumstances a reduced Annual Allowance may apply: A Money Purchase Annual Allowance ( 4,000 gross for the 2017/2018 tax year) will apply each tax year once you take money directly out of any money purchase (defined contribution) pension pot you have, unless you: only take your tax-free cash lump sum, or take all of it under the small pension pot rules, or continue taking Capped Income Drawdown. Not all of these options will be available from every pension pot. Your Annual Allowance may also be reduced if your income (including the value of any pension contributions) is over 150,000 and your income (excluding the value of any pension contributions) is over 110,000. The Annual Allowance will not apply in the tax year in which you die or if you access your pension pot because of serious ill health. More information is also available at gov.uk You should contact your adviser if: You expect your total gross contributions into all pension schemes to exceed the Annual Allowance in any tax year, as unused allowances may be available from previous tax years; You have any additional questions, including whether your Annual Allowance will be reduced. Investments Any growth in your pension pot is free of UK income tax and capital gains tax. However, we cannot reclaim the tax paid on dividends from UK companies. lifetime ALLOWANCE There are no restrictions on the value of the total benefits payable from all your Registered Pension Schemes. However, anything over a certain level, called the Lifetime Allowance, will be subject to a tax charge of up to 55% on the excess. For most people their Lifetime Allowance will be the standard Lifetime Allowance. The standard Lifetime Allowance for the tax year 2017/2018 is 1 million. Certain circumstances may mean you have a different personal Lifetime Allowance - for example, if you ve registered with HMRC for protection. Depending on the type of protection you have, any contribution to a plan may mean you lose your protection. DEATH If you die before age 75, any death benefits will normally be paid tax free. If you re aged 75 or over when you die, any death benefits will be taxed in the same way as earned income. In some circumstances there could be an additional inheritance tax liability. WHAT ARE MY investment options? We ll invest each contribution or transfer payment you make into your plan using your instructions. The accompanying Illustration(s) gives you details of your proposed investments. InSURED funds You can choose from a wide range of insured funds managed by a number of investment management groups. The plan can invest in a maximum of 100 funds overall. Each type of contribution/payment can invest in a maximum of 50 funds. Insured funds are divided into units; all units in a fund are equal in value. Your share of a fund is the number of units you hold in it. The value of your investment in insured funds is worked out based on the number of units you hold in a fund and the price of those units. The price of a unit in a fund depends on a number of factors, in particular the value of the underlying assets and whether there is more money going into or coming out of the fund. The value of your investment in insured funds will go up and down in line with the unit price. We value insured funds frequently to enable us to treat all our investors fairly. For further details, please see A guide to how we manage our unit-linked funds, available from us or your adviser. You can switch between funds at any time. Currently, there is no charge for switching between insured funds and no limit on the number of switches. We also have a range of lifestyle profiles for you to choose from. You can choose to invest in any of them, but you can only invest in one lifestyle profile for each contribution/payment type. You can move your money between insured funds and lifestyle profiles whenever you want, but you can t invest in both at the same time within a contribution/ payment type. Lifestyle profiles are not available if you re taking income drawdown. For full details of the insured funds and lifestyle profiles available, please see the Portfolio Plus Funds Guide for Insured Funds.

10 10 PORTFOLIO PLUS PENSION KEY FEATURES Self-inVESTMEnt option When you first start your plan you can only invest in insured funds, which are described on the previous page. You may, in the future, require the added investment flexibility of self-investment. Your plan provides you with an option to add this without the need to transfer to a new pension plan. To exercise the option, you must meet our minimum requirements at the time. Our current requirements are shown in the Your Commitment section on page 5. Please speak to your adviser for more information. If you do exercise this option you will be provided with a new Terms Sheet detailing the permitted investments and charges applicable at that time. The current version of this document is available on request from your adviser. Single contributions or transfer payments can be invested according to your instructions. The amount available when you access your pension pot will be the value of the assets held after the deduction of any outstanding charges. WHAT ARE THE CHARGES? Charges are made to cover the various costs and expenses involved when setting up and managing your plan, such as: administration, the investment management costs and expenses of investing in and holding assets. Please see your Terms Sheet for details of the charges for: insured funds, income drawdown, and self-investment (if applicable). You can also find details of charges and the effect of them in your Illustration(s). We review our charges regularly and may introduce charges or change the type and level of charges at any time. We will let you know in writing at least 30 days before we make any such change. Your Member s Booklet gives further information about why we might make changes. WHEN CAN I ACCESS MY PENSion pot? You can access your pension pot from age 55. If you are unable to continue working because of ill health, you may be able to access your pension pot earlier than age 55. At age 99, you must choose either to access all of your pension pot or transfer to another pension product. how can I access my pension pot? Before you access your pension pot it s important you consider all the options available to you. You can combine options to best meet your circumstances or needs. The current options available under this plan are: Take a flexible income directly from your pension pot (typically known as Flexi-Access Drawdown). You can normally take up to 25% of your pension pot as a tax-free cash lump sum and the rest as regular and/or ad hoc income payments, which will be taxed in the same way as earned income. You can vary the amount of income you take and when you take it. If you re already using this plan for Capped Income Drawdown you can continue with it or you can convert it to Flexi-Access Drawdown at any time. For further information, please see the Guide to Income Drawdown. Take all or part of your pension pot as a cash lump sum. The first 25% of each payment will usually be tax-free and the rest will be taxed in the same way as earned income. You can take up to two partial lump sums of at least 5,000 each in any calendar year providing you leave at least 5,000 remaining invested in your pension pot. CAN I TRANSFER TO AnoTHER PENSiON PROViDER? You can transfer the value of your pension pot to another Registered Pension Scheme at any time. If you re already taking income drawdown and you decide to transfer, your new provider will need to allow you to continue with income drawdown. If you re already using this plan for Capped Income Drawdown, you ll need to check with your new provider to see if they offer this option.

11 PORTFOLIO PLUS PENSION KEY FEATURES 11 Buy a guaranteed income for life (a lifetime annuity). You can normally take up to 25% of your pension pot as a tax-free cash lump sum and use the rest to buy a lifetime annuity. The income you receive from your lifetime annuity will be taxed in the same way as earned income. You can buy an annuity from the provider of your choice; you don t have to buy it from Legal & General. You might see buying it from another provider described as the Open Market Option. Alternatively, you can transfer your whole pension pot to another suitable pension product. Any money remaining in your pension pot will be subject to the Risks on page 6. If you take too much money from your pension pot, you may not have enough left to provide you with a sufficient level of income. We ll write to you as your selected retirement date approaches with details of the choices you have. If you want to access your pension pot before your selected retirement date, you will need to contact us. what will affect my pension income? The value of your pension pot will depend on: The contributions and transfer payments made to your plan. The investment performance of the funds and/or assets you have chosen. The charges taken out of your pension pot. When you access your pension pot, particularly if it s earlier than you originally planned. How much you take out of your pension pot. If you choose to buy an annuity, the rates available at that time and the options you select will affect your income considerably. Annuity rates can change significantly over short periods of time, both up and down. The accompanying Illustration(s) shows what your pension pot could be worth at your selected retirement date, taking into account charges over the period. The yearly statements we send you will also include this information. what happens to my pension pot WHEN I DIE? The way we ll pay this will depend on a number of things, including if you ve nominated a beneficiary or set up a trust. Any payment is at our discretion taking into account the range of potential beneficiaries outlined in the Member s Booklet. If you make a nomination, we will not be bound by it but we will take it into account. You can set up a trust or make a nomination at any time. Your Member s Booklet provides full details and important information to consider. Please also see the Death section on page 9. HOW DO I MANAGE MY PENSion pot? We ll send you yearly statements to help you keep an eye on your pot. You can ask us for a valuation whenever you want. You can also manage your pot online by registering for My Account through our website at legalandgeneral.com/existing-customers. My Account lets you view the current value of your pension pot. You can also switch between the insured funds you re invested in and change the amount or regularity of your contributions. Your pension is a long-term investment and to get the most out of it you should actively manage it. You need to check its value regularly, make sure you understand how your investments are performing and that it s continuing to meet your needs. WHAT ABOUT STAKEHolDER PENSiONS? Stakeholder pensions are also available and these may be at least as suitable for your needs as this plan. If you want any more details about them, please ask your adviser.

12 12 PORTFOLIO PLUS PENSION KEY FEATURES CAN I CHANGE MY MinD? We ll send you a notice of your right to cancel when we start your Portfolio Plus Pension, accept your selfinvestment option application, or when you first set up income drawdown. You will then have 30 days to change your mind. If you decide to cancel within this 30 day period, you should complete the cancellation notice and return it to the address shown on it. You must post the notice on or before the 30th day after you received it. If you don t take this opportunity to cancel and you want to do so at a later stage, you cannot get any money back until you access your pension pot. If there has been a fall in the investment value of your pension pot during the period prior to receiving your instruction to cancel, any refund paid may reflect the reduction in value. If you decide to cancel a transfer payment, we will make every effort to return it to the previous provider. They are not obliged to accept the return of the transfer value. If we are told that they will not accept it, your plan with us will continue and the transfer value will remain invested as you have chosen. You may transfer to another provider but the transfer value will depend on the value of your pension pot at the transfer date. If you have exercised the self-investment option: Your cancellation instruction will cancel everything that you have elected to do on the Portfolio Plus Pension (with self-investment) Application Form, including any contribution or transfer payment, and your plan will remain as the Portfolio Plus Pension (investing in insured funds). If you have surrendered units in your insured fund(s) and purchased self-invested assets, your cancellation of the self-investment option will result in the selling of those self-invested assets and purchasing units in the insured fund(s) that you were previously invested in. The resulting value of these investments in insured funds may be equal to or lower than the value before exercising the self-investment option. If you have elected to take income drawdown: You must return any tax-free cash lump sum and/or income that we have already paid you within 30 days of us receiving your request to cancel. If you don t, you will lose the right to cancel and your income drawdown will continue. We will acknowledge receipt of the returned payment(s) and will place it in the funds or assets that it was taken from, if applicable. If you have paid a transfer value, we will make every effort to return it to the previous provider. The return of the transfer value may reflect any reduction in investment values. The previous provider is not obliged to accept the return of the transfer value. If they do not accept it: Your plan with us will continue and your money will remain invested. If you ve paid a transfer value consisting of funds already used for income drawdown, the income drawdown will continue with us. If your transfer value consisted of funds that have not already been used for income drawdown, we ll ask you to confirm whether you wish to continue with income drawdown. You may transfer to another provider but the transfer value will depend on the value of your pension pot at the transfer date. If your income drawdown continued with us, your new provider will also need to allow you to continue with it.

13 PORTFOLIO PLUS PENSION KEY FEATURES 13 how can I contact you? Please send all correspondence regarding your Portfolio Plus Pension to: Legal & General SIPP Service Centre City Park The Droveway Hove East Sussex BN3 7PY Call us on Call charges will vary. We may record and monitor calls. us at sipp.servicecentre@landg.com If you re contacting us by please remember not to send any personal, financial or banking information because is not a secure method of communication. If you would like a copy of this or any other item of our literature in larger print, Braille or in audio format, please contact our customer services team on the telephone number above.

14 14 PORTFOLIO PLUS PENSION KEY FEATURES OTHER INFORMATION. LAW AND LANGUAGE COMPENSATION This contract is governed by English law. The terms and conditions and all communications will only be available in English. All communications from us will normally be by letter or telephone. OUR REGULATOR Legal & General (Portfolio Management Services) Limited is authorised and regulated by the Financial Conduct Authority. We re entered on the Financial Services Register under number You can check this at fca.org.uk/firms/systems-reporting/ register or you can call If Legal & General is unable to meet its obligations, you may be entitled to compensation under the Financial Services Compensation Scheme (FSCS). This depends on the type of business and the circumstances of the claim. Currently, for insured funds within your pension, 100% of the value of a valid claim will be covered by the scheme. There is no upper financial limit on the claim. For self-invested assets, different compensation levels will apply and some self-invested assets may not be covered by the Scheme. You can get further information from the FSCS at fscs.org.uk

15 PORTFOLIO PLUS PENSION KEY FEATURES 15 How to complain ConFLICTS OF INTEREST If you wish to complain about any aspect of the service you have received from Legal & General, or if you would like us to send you a copy of our internal complaint handling procedure, please contact us using the details set out in the How can I contact you? section on page 13. Complaints regarding our administration that we cannot resolve can initially be referred to: The Pensions Advisory Service 11 Belgrave Road London SW1V 1RB During the term of your plan, conflicts of interest may arise between you and us, our employees, our associated companies or our representatives. A conflict of interest is where our duties to you as a customer may conflict with what is best for ourselves. To ensure we treat customers consistently and fairly, we have a policy on how to identify and manage these conflicts. A copy of the policy is available on request from the address shown in the How can I contact you? section on page 13. CUSTOMER CATEGORY pensionsadvisoryservice.org.uk and it may then be referred to: The Pensions Ombudsman 11 Belgrave Road London SW1V 1RB enquiries@pensions-ombudsman.org.uk pensions-ombudsman.org.uk Sales related complaints that we cannot resolve can be referred to: The Financial Ombudsman Service Exchange Tower London E14 9SR There are various categories of client set out in the financial regulations. If you buy this Legal & General product, we will treat you as a retail client. Being a retail client gives you the greatest level of protection under the regulations and ensures you get full information about any products you buy. If, under the regulations, you are a professional client or eligible counterparty, we will still treat you as a retail client although this would not necessarily mean that you would be eligible to refer any complaints to The Financial Ombudsman Service or to make a claim under the Financial Services Compensation Scheme. Terms Sheet accompanies this Key Features and will also be sent to you when your application is accepted. All information is correct at the time of going to print. complaint.info@financial-ombudsman.org.uk financial-ombudsman.org.uk Making a complaint to Legal & General, The Pensions Advisory Service or The Financial Ombudsman Service won t affect your legal rights.

16 16 PORTFOLIO PLUS PENSION KEY FEATURES Legal & General (Portfolio Management Services) Limited Registered office: One Coleman Street, London EC2R 5AA Registered in England and Wales No Authorised and regulated by the Financial Conduct Authority. W /