The Pension Planner has been produced to give an illustration of what your pension benefits might be in the future. It shows the pension that might be payable to you, in today's prices, when you retire.
It is for illustrative purposes only and is based on a number of assumptions.
You should note that benefits can only be paid in accordance with the Scheme's Rules and legal requirements.
When members of the Scheme retire they can use the value of their fund to purchase retirement benefits of their choice from a pension provider, usually an insurance company. Retirement benefits that can be purchased include:
- A pension for yourself, payable throughout your lifetime.
- A tax-free cash lump sum in place of part of your pension.
- A pension for your spouse, partner or other dependants when you die.
- A cash lump sum in lieu of your pension in the event of your early death.
- Pension increases to reduce the effect of future inflation.
The Pension Planner should be used in conjunction with the other information about the HBOS Group Money Purchase Scheme and must not be used as the sole or primary source of information when making decisions regarding your pension arrangements.
Figures shown by this Pension Planner do not amount to a promise and there is no guarantee that a pension will be paid at the estimated amounts shown. The actual pension payable will almost certainly vary from the estimated pension figures shown.
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