JARVIS PENSION

 

Personal Pension Jar

 

Introduction

This is a generic illustration about the Jarvis Personal Pension Jar to help you decide if this pension is right for you. It’s important that you read this document carefully so that you fully understand what you are buying. We also recommend keeping this document safe for future reference and reading it alongside the Key Features document.

 

Illustration examples used

They are based on investments in funds that are available in your Jarvis Personal Pension Jar, but it will depend on the funds you select and their actual performance. Please choose an example based on whether you intend to make a single payment, a transfer payment or a regular payment into your pension.

How this illustration was created

The figures shown in the examples in this illustration are based on different retirement ages, plan lengths, investment choices and pension contributions. These different amounts are based on assumptions and estimated growth rates and projections and aren’t the guaranteed amounts that you will get.

The assumptions we used

• Your retirement income will be paid at the start of each month.
• Your retirement income payments will be a consistently paid amount and will remain at the same level.
• Your pension will not be paid to any dependents when you die.
• Total investment charges of funds:
  o Fund A: Vanguard FTSE UK All Share Index Fund (TER: 0.06%)
  o Fund B: Schroder Global Energy Transition Fund (TER: 0.95%)
  o Fund C: Legal & General Global Inflation Linked Bond Index Fund (TER: 0.24%)
  o Fund D: L&G Cash Trust (TER: 0.15%)
• This illustration does not take into account the Lifetime Allowance. The Lifetime Allowance is a limit on the total value of all your pension benefits that you can get paid without paying a tax penalty.

The growth rates we used

In line with rules set by the Financial Conduct Authority, we have reduced all growth rates in this illustration by 2.0% to allow for inflation. You will be able to see the results based on three potential levels of return on your investment:

• Lower rate which assumes an annual investment return of -1.10%
• Intermediate rate which assumes an annual investment return of 1.90%
• Higher rate which assumes an annual investment return of 4.90%

The growth rates on your investments could be lower than what is shown in this illustration, depending on the performance of the investments you actually select. If the actual growth rates are lower, then your future pension plan value and pension benefits will be lower than what is shown in this illustration.

The growth rates for certain types of funds, particularly at the ‘low’ and ‘mid’ levels, are currently low and, in some cases, the growth is predicted to be negative after inflation has been deducted. This demonstrates that in a low growth environment, the returns from certain types of funds could fall behind inflation, meaning a real loss in the value of your savings over time.

The projections we used

• The projection tables in each example show you in today’s prices how much the pension might pay out to you at that particular retirement age.
• We have allowed for future inflation of 2.0% each year to give you an indication of how much could be bought with the pension if it were paid out to you today.
• The taxable annual pension would be lower if you took a tax-free lump sum. You can find more information about tax-free lump sums in the Key Features document.

The charges we included

• We have included all annual management and fund transaction charges in this illustration. You can find more information about charges in the Key Features document.
• These charges are shown as a percentage of the fund, are taken within the fund on a daily basis, and may change over time.
• Your actual charges may be higher or lower than the figures used in this illustration and will depend upon the actual investments you choose.
• This illustration also includes a platform fee which is 0.75% of Assets under Administration.
• Each example includes a table to help you to understand the impact of the charges on the investments.

About uninvested cash

• If you have uninvested cash in your personal pension account our custodian, Seccl may pay you interest each year on the amount. It may increase or decrease when interest rates change. Seccl calculates this interest daily and adds it to your account each month.
• Your uninvested cash will sit in the Custodian's client money bank account (Lloyds) and earn interest at the prevailing bank rate. This rate may change on a regular basis. The amount you will be paid will be published on your statement, which you can find in the app.

Illustration Examples

When reading these examples remember to take into account the assumptions and charges explained earlier on in this document.

Fund A (Equities 0.06%) » Single payment

This example illustrates the pension of someone aged 35 who makes a lump sum payment or transfer payment of £10,000. It also shows the potential values of the pension plan and taxable annual pension that they might get if they retired in 20, 25, 30, 35 and 40 years (at 55, 60, 65, 70, and 75 years old).

The benefits in the pension are proportionate to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

Impact of charges table

The table below shows the impact of charges in the particular example of a lump sum payment or transfer payment of £10,000, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to 1.46%.

 

Regular savings

This example illustrates the pension of someone aged 35 who makes regular payments of £500 per month. It shows the potential value of the pension plan and taxable annual pension that they might receive if they retired in 20, 25, 30, 35 and 40 years.

The benefits in the pension are proportional to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a regular monthly savings of £500, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to 0.98%.




Fund B (Equities 0.95%) » Single payment

This example illustrates the pension of someone aged 35 who makes a lump sum payment or transfer payment of £10,000. It also shows the potential values of the pension plan and taxable annual pension that they might get if they retired in 20, 25, 30, 35 and 40 years (at 55, 60, 65, 70, and 75 years old).

The benefits in the pension are proportionate to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a lump sum payment or transfer payment of £10,000, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to (0.28%).

 

Regular savings

This example illustrates the pension of someone aged 35 who makes regular payments of £500 per month. It shows the potential value of the pension plan and taxable annual pension that they might receive if they retired in 20, 25, 30, 35 and 40 years.

The benefits in the pension are proportional to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

 

Impact of charges table

The table below shows the impact of charges in the particular example of a regular monthly savings of £500, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to (0.29%).

 

 

Fund C (Bonds 0.23%) » Single payment

This example illustrates the pension of someone aged 35 who makes a lump sum payment or transfer payment of £10,000. It also shows the potential values of the pension plan and taxable annual pension that they might get if they retired in 20, 25, 30, 35 and 40 years (at 55, 60, 65, 70, and 75 years old).

The benefits in the pension are proportionate to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

Impact of charges table

The table below shows the impact of charges in the particular example of a lump sum payment or transfer payment of £10,000, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to 0.85%.

 

Regular savings

This example illustrates the pension of someone aged 35 who makes regular payments of £500 per month. It shows the potential value of the pension plan and taxable annual pension that they might receive if they retired in 20, 25, 30, 35 and 40 years.

The benefits in the pension are proportional to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a regular monthly savings of £500, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to 0.83%.

 

 

Fund D (Cash 0.15%) » Single payment

This example illustrates the pension of someone aged 35 who makes a lump sum payment or transfer payment of £10,000. It also shows the potential values of the pension plan and taxable annual pension that they might get if they retired in 20, 25, 30, 35 and 40 years (at 55, 60, 65, 70, and 75 years old).

The benefits in the pension are proportionate to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a lump sum payment or transfer payment of £10,000, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to 1.00%.

 

Regular savings

This example illustrates the pension of someone aged 35 who makes regular payments of £500 per month. It shows the potential value of the pension plan and taxable annual pension that they might receive if they retired in 20, 25, 30, 35 and 40 years.

The benefits in the pension are proportional to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

 

Impact of charges table

The table below shows the impact of charges in the particular example of a regular monthly savings of £500, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to 0.97%.

 

Personalised pension illustrations
You can request a personalised illustration about your Jarvis Personal Pension by emailing us at support@pensionjar.com.

 

Workplace Pension Jar

 

Introduction

This is a generic illustration about the Jarvis Workplace Pension Jar to help you decide if this pension is right for you. It’s important that you read this document carefully so that you fully understand what you are buying. We also recommend keeping this document safe for future reference and reading it alongside the Key Features document.

Illustration examples used

They are based on investments in funds that are available in your Jarvis Workplace Pension Jar, but it will depend on the funds you select and their actual performance. Please choose an example based on whether you intend to make a single payment, a transfer payment or a regular payment into your pension.

How this illustration was created

The figures shown in the examples in this illustration are based on different retirement ages, plan lengths, investment choices and pension contributions. These different amounts are based on assumptions and estimated growth rates and projections and aren’t the guaranteed amounts that you will get.

The assumptions we used

• Your retirement income will be paid at the start of each month.
• Your retirement income payments will be a consistently paid amount and will remain at the same level.
• Your pension will not be paid to any dependents when you die.
• Total investment charges of funds:
  o Portfolio A: Default Conservative (TER: 0.11%)
  o Portfolio B: Default Moderate (TER: 0.10%)
  o Portfolio C: Default Adventurous (TER: 0.08%)
• This illustration does not take into account the Lifetime Allowance. The Lifetime Allowance is a limit on the total value of all your pension benefits that you can get paid without paying a tax penalty.

The growth rates we used

In line with rules set by the Financial Conduct Authority, we have reduced all growth rates in this illustration by 2.0% to allow for inflation. You will be able to see the results based on three potential levels of return on your investment:

• Lower rate which assumes an annual investment return of -1.10%
• Intermediate rate which assumes an annual investment return of 1.90%
• Higher rate which assumes an annual investment return of 4.90%

The growth rates on your investments could be lower than what is shown in this illustration, depending on the performance of the investments you actually select. If the actual growth rates are lower, then your future pension plan value and pension benefits will be lower than what is shown in this illustration.

The growth rates for certain types of funds, particularly at the ‘low’ and ‘mid’ levels, are currently low and, in some cases, the growth is predicted to be negative after inflation has been deducted. This demonstrates that in a low growth environment, the returns from certain types of funds could fall behind inflation, meaning a real loss in the value of your savings over time.



The projections we used

• The projection tables in each example show you in today’s prices how much the pension might pay out to you at that particular retirement age.
• We have allowed for future inflation of 2.0% each year to give you an indication of how much could be bought with the pension if it were paid out to you today.
• The taxable annual pension would be lower if you took a tax-free lump sum. You can find more information about tax-free lump sums in the Key Features document.

The charges we included

• We have included all annual management and fund transaction charges in this illustration. You can find more information about charges in the Key Features document.
• These charges are shown as a percentage of the fund, are taken within the fund on a daily basis, and may change over time.
• Your actual charges may be higher or lower than the figures used in this illustration and will depend upon the actual investments you choose.
• This illustration also includes a platform fee which is 0.60% of Assets under Administration.
• Each example includes a table to help you to understand the impact of the charges on the investments.

About uninvested cash

• If you have uninvested cash in your workplace pension account our custodian, Seccl may pay you interest each year on the amount. It may increase or decrease when interest rates change. Seccl calculates this interest daily and adds it to your account each month.
• Your uninvested cash will sit in the Custodian's client money bank account (Lloyds) and earn interest at the prevailing bank rate. This rate may change on a regular basis. The amount you will be paid will be published on your statement, which you can find in the app.

Illustration Examples

When reading these examples remember to take into account the assumptions and charges explained earlier on in this document.



Portfolio A (Conservative 0.11%) » Single payment

This example illustrates the pension of someone aged 35 who makes a lump sum payment or transfer payment of £10,000. It also shows the potential values of the pension plan and taxable annual pension that they might get if they retired in 20, 25, 30, 35 and 40 years (at 55, 60, 65, 70, and 75 years old).

The benefits in the pension are proportionate to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a lump sum payment or transfer payment of £10,000, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.95% to 1.23%.

 

Regular savings

This example illustrates the pension of someone aged 35 who makes regular payments of £500 per month. It shows the potential value of the pension plan and taxable annual pension that they might receive if they retired in 20, 25, 30, 35 and 40 years.

The benefits in the pension are proportional to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a regular monthly savings of £500, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.95% to 1.16%.

 

Portfolio B (Moderate 0.10%) » Single payment

This example illustrates the pension of someone aged 35 who makes a lump sum payment or transfer payment of £10,000. It also shows the potential values of the pension plan and taxable annual pension that they might get if they retired in 20, 25, 30, 35 and 40 years (at 55, 60, 65, 70, and 75 years old).

The benefits in the pension are proportionate to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a lump sum payment or transfer payment of £10,000, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.92% to 1.18%.

 

Regular savings

This example illustrates the pension of someone aged 35 who makes regular payments of £500 per month. It shows the potential value of the pension plan and taxable annual pension that they might receive if they retired in 20, 25, 30, 35 and 40 years.

The benefits in the pension are proportional to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a regular monthly savings of £500, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.92% to 1.12%.

 

Portfolio C (Adventurous 0.08%) » Single payment

This example illustrates the pension of someone aged 35 who makes a lump sum payment or transfer payment of £10,000. It also shows the potential values of the pension plan and taxable annual pension that they might get if they retired in 20, 25, 30, 35 and 40 years (at 55, 60, 65, 70, and 75 years old).

The benefits in the pension are proportionate to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a lump sum payment or transfer payment of £10,000, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to 1.21%.

 

Regular savings

This example illustrates the pension of someone aged 35 who makes regular payments of £500 per month. It shows the potential value of the pension plan and taxable annual pension that they might receive if they retired in 20, 25, 30, 35 and 40 years.

The benefits in the pension are proportional to the payment, so for example paying twice the payment would give twice the pension plan value at retirement and twice the taxable annual pension for the same investment term.

 

Impact of charges table

The table below shows the impact of charges in the particular example of a regular monthly savings of £500, a retirement age of 65 and the intermediate growth rate.

It shows that the charges reduced the return on the investment. The reduction from the amount shown in the ‘If there were no charges’ column to the amount shown in the ‘After all charges are taken’ column shows that the charges reduced the growth rate from 1.9% to 1.15%.

 

Personalised pension illustrations
You can request a personalised illustration about your Jarvis Workplace Pension by emailing us at support@pensionjar.com.