Dear Scottish Equitable Stakeholder Scheme (the Scheme ) Group Stakeholder Pension plan application Your employer has sent us an application for you to join its Group Stakeholder Pension plan with Aegon. We accept the application and will set up a plan for you using the information provided by your employer. Your membership of the Scheme, your plan and your policy will start when the first contribution is paid to us by your employer and invested in your plan. We enclose your Group Stakeholder pension plan application details document together with accompanying notes. These are the details we ve used to set up your plan and policy. Please take the time to read these documents carefully and ensure that all of the information is correct. You should pay particular attention to the following:! Sections 2, Contributions and 3, Investment details. These sections set out important details about the contributions to be made to your plan and the fund investment choice. We ve highlighted the most important details for you in bold.! Section 5, Important terms and conditions. This section includes important statements that both we and HM Revenue & Customs (HMRC) will rely upon. The information will be used to claim the valuable tax relief for you that comes with your Group Stakeholder Pension plan. It also includes details of your responsibility to inform us of changes to your personal details (for example change of job). Aegon is a brand name of Scottish Equitable plc. Scottish Equitable plc, registered office: Edinburgh Park, Edinburgh EH12 9SE. Registered in Scotland (No. 144517). Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 165548. An Aegon company. www.aegon.co.uk GRP00004114 01/18
Have a look at the Key Features of the Group Stakeholder Pension plan. This key features document should help you understand the terms of your pension plan. If you re happy that the information in your Group Stakeholder pension plan application details document is correct, you don t need to take any further action. If any information needs to be changed, you must contact us within 30 days of the date of this letter. If we don t hear from you within those 30 days then both we and HMRC will proceed on the basis that everything for your application for the plan, the policy and Scheme membership has been agreed with you. In a few days you ll receive further documents including a policy schedule and Welcome to your pension booklet. If you contact us to make any changes to your Group Stakeholder pension plan application details document, your changes may not be reflected in this policy schedule. However, changes you ve made to your plan will be confirmed to you. When the first contribution has been applied to your plan you ll receive a cancellation notice. We would like to take this opportunity to welcome you to your company pension scheme with Aegon. Yours sincerely Ronnie Scott Pensions Customer Service Director Enc. Aegon is a brand name of Scottish Equitable plc. Scottish Equitable plc, registered office: Edinburgh Park, Edinburgh EH12 9SE. Registered in Scotland (No. 144517). Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 165548. An Aegon company. www.aegon.co.uk GRP00004114 01/18
Group pension plan application details for Notes for applicant This document sets out information and declarations that we are using in setting up a Group Stakeholder Pension plan for you from Aegon (a brand name of Scottish Equitable plc). You should read it carefully and check that the details are accurate and complete. This is extremely important as this information and the declarations are an important part of the contract between you and Aegon. If any of the details are incorrect, let us know within 30 days from the date of the covering letter. You must refer to Group Pension plan application details notes (ref: PAD4) when checking the information. For words in bold, see the Definitions section of the notes. Your application is for more than one arrangement under the Scheme. Details of the number of arrangements, and the contributions paid to each, will be given separately to you. The information and declarations will form the basis of a contract of insurance, which may be invalid in the event of a claim arising if you ve failed to disclose any material fact (that s any fact which would be likely to influence the assessment and acceptance of your application). If you ve any doubt as to the significance of any fact then you should disclose it. What you must do if you are subject to the money purchase annual allowance provisions If you have flexibly accessed your pension rights and so are subject to the money purchase annual allowance provisions, you must tell us within 91 days of joining this plan. You can be fined by HMRC if you don t tell us within this timescale. You will have flexibly accessed your pension rights if: a you had a flexible drawdown plan at any time before 6 April 2015; or b you take, or have already taken, certain types of pension benefit from a registered pension scheme on or after 6 April 2015 (for example, an uncrystallised funds pension lump sum or income from a flexi-access drawdown plan). If you have flexibly accessed your pension rights because you had a flexible drawdown plan before 6 April 2015, you must tell us that you became subject to the money purchase annual allowance provisions on 6 April 2015. Otherwise, you must pass on the information given to you in the statement from your scheme administrator telling you that you have flexibly accessed your pension rights (you can do this by sending us a copy of the statement). The information in this document is required for income tax purposes and if you give false information this may lead to your prosecution by the tax authorities with severe penalties.
1 Personal details Title Full forename(s) Surname Date of birth National Insurance (NI) number Gender M F Permanent home address Postcode Full name and address of employer (if employed) Postcode
2 Contributions 1. Contributions to your group stakeholder plan will be paid in accordance with a tiered Yes No contribution facility (TCF) as notified to Aegon by your employer. (i) If Yes, contributions will be paid in accordance with the following TCF table: Tier Age band Employee contribution (%) Employer contribution (%) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 (ii) If No, or you want to make a contribution in addition to the tiered contributions detailed in the table above, you ll contribute and your employer will contribute These contributions are payable The earnings on which these are to be based have been fixed between you and your employer. In the year in which the first contribution is to be paid, these are The expected date of payment of first instalment of regular contribution is Chosen retirement age
2 Contributions continued Waiver Do you want to apply for waiver of contribution? No go to section 3 Yes how do you want waiver to apply? Tick all that apply. Your personal regular contributions Your employer s regular contributions Any future single contributions* If you want waiver cover for single contributions, make sure that you ve read the notes on waiver of contribution. *If you ve selected cover for any future single contributions, what single contributions are covered depends on what s selected for your and your employer s regular contributions. Who pays for waiver of contribution for regular contributions? Only tick one box. You Your employer Both you and your employer How s the cost of cover for regular contributions to apply? Only tick one box. Included in the specified contributions or In addition to the specified contributions The cost of waiver of contribution for any single contributions will always be included in the single contribution. Please tell us the industry you work in and your job title: 3 Investment details Regular contributions Percentage of contributions (%) Total 100%
4 How we treat your personal information Here at Aegon, we re committed to protecting and respecting your privacy. We collect your personal information so that we can verify your identity, set up your plan and provide ongoing administration. We need this information to carry out our obligations and to provide you with the products and services under the terms of your contract with us. Without it, we wouldn t be able to provide you with a plan. As part of our administration process, we work with carefully selected service providers (in other words suppliers) that carry out certain functions on our behalf. We only share the appropriate level of personal information necessary to enable our suppliers to carry out their services and they need to keep the information safe and protected at all times. Our suppliers must only act on our instructions and can t use your personal information for their own purposes. The personal information we collect may be transferred to, and stored at a destination outside the European Economic Area (EEA). This could be to other companies within the Aegon Group or to our service providers. Where any such processing takes place, appropriate controls are in place to make sure your information is protected. We may disclose your information to licensed credit reference and/or fraud prevention agencies to help make financial or insurance proposals and claims decisions (this will be during the application or enrolment process and on an ongoing basis), for you and anyone you re linked with financially or other members of your household. Our enquiries or searches may be recorded. You can find more information on how we use and share your personal information, including how long we keep it and details of your rights at www.aegon.co.uk/protectinginformation or by contacting us to request a copy. 5 Important terms and conditions (a) Subject to what follows concerning waiver of contribution cover, you ve been accepted: (i) as a member of the Scottish Equitable Stakeholder Scheme (the Scheme ); (ii) for a contract with Aegon for the provision of arrangements under the Scheme. Accordingly, you ll be issued with a plan or plans in connection with the contract or contracts setting out our standard provisions and incorporating any special terms or provisions appropriate to the contract or contracts, or any part of them, which may be applicable. These special terms or provisions shall be in our current form or, where we don t have one, as we think reasonable to reflect the special terms or provisions. Where waiver of contribution benefit is to be provided, you ll be notified if you ve been accepted for this benefit, and the separate contract for this benefit, separately. Aegon won t provide this cover until you ve been so notified. Notification of acceptance, or otherwise, shall be in such form as Aegon chooses. (b) You agree to be bound by the documents and rules of the Scheme. (c) You agree that the amount of contributions specified in the arrangements will be paid by you or, with your knowledge, on your behalf. As your status is employed: (i) your employer will pay the amount of employer contributions set out in this Declaration; and (ii) where your contributions are to be deducted direct from your earnings and paid to Aegon, you ve authorised your employer to make these deductions; (iii) where your contributions are to be deducted from your earnings on a weekly basis, you acknowledge that your employer may remit these contributions to Aegon, on your behalf, on a monthly basis. (d) You agree as follows: (i) Any contributions to the plan will be allocated to investment funds in accordance with your instructions to Aegon (which includes any set out in these plan application details). Where the investment choice is Aegon s default investment fund you note that Aegon can change its default investment fund in the future and, in the event of such a change, Aegon can: 1. at its discretion invest any contributions paid to your stakeholder plan after the date of change into the new default investment fund(s), and/or 2. at its discretion switch the funds held in the old default investment fund(s) into the new default investment fund(s).
5 Important terms and conditions continued (ii) If a TCF is to apply to your plan, you agree that contributions will be paid in accordance with the TCF table set out in the Contributions section of these plan application details, as advised to Aegon by your employer. Your employer can change the TCF from time to time. If you don t want a TCF to apply to your plan, you ll notify Aegon in writing. (iii) You re aware that Aegon has an Investment fund allocation procedure, and this procedure may be changed from time to time. (iv) That procedure will be part of the plan you re applying for. (v) Whenever a contribution is given to Aegon to apply under the plan, and Aegon doesn t have clear and complete instructions from you as to which investment funds that contribution is to be applied, then Aegon will apply the contribution to investment funds chosen in accordance with the said procedure. (e) You agree that Aegon shall decide what funds are available under your policy. This includes it changing what funds are available from time to time. You agree that the powers in the policy may be used to do this. You acknowledge that the funds available will reflect the views of an adviser that Aegon deems is (or was) involved with the Group Stakeholder Pension plan for you. Where the funds available change, this may involve a switch of funds (for example you re invested in a fund that s no longer to be available). You note that any such switch will count as a switch for the purposes of the policy, and you undertake to take all reasonable steps to enable the switch to be made. Going forward, the situation may change and you acknowledge the following will take place. (i) Where Aegon winds-up an investment fund, existing Units will be surrendered and dealt with as set out in the policy conditions (for example, either you instruct a switch or the investment is moved to the Cash fund). The timing will be chosen reasonably by Aegon. For further contributions that would have gone to the fund winding up, either you shall instruct a switch, or they will be dealt with in accordance with the Investment fund allocation procedure. (ii) Where Aegon closes an investment fund, existing Units will be left in that fund unless you instruct a switch. For further contributions that would have gone to the closed fund, either you shall instruct a switch, or they will be dealt with in accordance with the Investment fund allocation procedure. (iii) Where the adviser removes an investment fund or funds, you note that there will be no change to where your contributions are invested unless you instruct a switch. If you leave the employment to which the Group Stakeholder Pension plan relates, then the funds available position set out above continues to apply (subject to Aegon and you agreeing to something different). You acknowledge that details of what funds apply for your policy from time to time will be available from Aegon. Aegon doesn t have to contact you when the funds available change, and it s up to you to check the information available. (f) You declare that no contribution that you make to the plan, whether set out in the Contributions section or in the future, shall be paid wholly or partly from a tax-free cash lump sum that you ve previously received from any approved or registered pension scheme. (g) You undertake to immediately inform the scheme administrator whenever your status changes (for example if you change from being employed to self-employed). (h) You consent to the scheme administrator or its representative obtaining from you or any other person or body to whom a duly authorised payment under the provisions of the Scheme is to be made such evidence and information as it may need for the purpose. (i) You note that if there s any failure to provide information needed by the scheme administrator in order to administer your benefits in an accurate manner, the scheme administrator has the right to make further charges. (j) You declare that the total contributions in a tax year to any and all registered pension schemes to which you re entitled to tax relief under Section 188 of the Finance Act 2004 won t exceed the higher of the basic amount and your relevant UK earnings in that tax year.
5 Important terms and conditions continued (k) You declare that the declaration given in clause (i) of this declaration is, to the best of your knowledge and belief, correct and complete. (l) You declare that the particulars given in the Personal Details section of the application form and the information given in the application form, whether in handwriting or not, are, to the best of your knowledge, correct and complete. (m)1 You undertake to give notice to the scheme administrator if an event occurs which results in you no longer being entitled to tax relief on your contributions under Section 188 of the Finance Act 2004. You ll give the notice required to the scheme administrator by the later of 5 April in the tax year in which the event occurs and 30 days after the event occurs. (n)1 You undertake to notify us in writing if you ve been a member of the Scottish Equitable Stakeholder Scheme. (o)1 You agree that these plan application details and every answer or statement (if any) made, or to be made, by you to Aegon or to a medical officer acting for Aegon (in conjunction with the information given in this application) shall be the basis of contracts between you and Aegon consisting in arrangements under the Scheme. (p)1 You agree that Aegon or its representatives may approach the scheme administrator or the provider of any other registered pension scheme to which you re contributing or have contributed to get any information Aegon feels necessary to administer your arrangements under the Scheme. (q)1 You acknowledge that deliberate or careless failure to provide correct information for this Declaration completely and to the best of your knowledge and belief may result in the benefits not being payable. (r) 1 You agree that this declaration applies for each and every contract and/or arrangement that you re 1 applying for. (s) Insofar as the plan is effected under a Group Stakeholder Pension plan, you consent to the documents relating to the Scheme s administration (including benefit statements) being sent to your employer: (i) relating to information needed for scheme administration for completion by my employer; (ii) which are passed on to me for completion. (t) 1 You declare that you re a relevant UK individual in the tax year in which the first contribution is to be paid. Important note We ll issue to you a plan(s) in your name in respect of the benefits provided under this Scheme. On request, we ll supply a copy of the standard policy conditions and a copy of the completed application form. We won t assume risk for waiver of contribution benefits until the application for these benefits has been accepted, you ve been notified of the acceptance and the contribution paid. Scottish Equitable plc, the provider and scheme administrator of the Scheme, agrees to administer the Scheme in accordance with the rules and arrangements of the Scheme. Aegon is a brand name of Scottish Equitable plc. Scottish Equitable plc, registered office: Edinburgh Park, Edinburgh EH12 9SE. Registered in Scotland (No. 144517). Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 165548. An Aegon company. www.aegon.co.uk 2018 Aegon UK plc WPS 00004531 01/18