Graig Pension Policy

Pension Policy

Graig Shipping plc has an old Zurich pension scheme with four members. The trustee of the scheme is Graig Shipping plc. If there are any queries regarding the scheme please contact the Group Accountant on 0044 (0)29 20 440 200.

We have shown 2 sets of illustrative examples for different levels of pot size for members for whom contributions are no longer being paid. For each pot size we have shown examples of how the projected pension pot may develop for the 2 most popular funds for this product code and also the funds with the highest and lowest charges (Zurich Schroder UK Alpha Plus Accumulation AP and Zurich Gilt Edged Ace 3/4 AP respectively).

The illustrations are shown for typical plans of this type and for a member aged 55 at the start of the projection. In practice the actual development of the projected pension pot for an individual plan may vary significantly depending on the precise circumstances of the plan such as how old the member is at the start of the projection and how long premiums were paid into the plan for.

ILLUSTRATIVE EXAMPLES- OPENING POT SIZE £10,000

ILLUSTRATIVE EXAMPLES- OPENING POT SIZE £50,000

NOTES

1. Projected pension pot values are shown in today's terms and do not need to be reduced further for the effect of future inflation.
2. It is assumed that the originally selected retirement age of the member is 60.
3. It is assumed that the member is aged 55 at the start of the projection and retires after 5 years at age 60.
4. The starting pot size, which is the transfer value of your plan, is assumed to be as stated at the start of each section.
5. Inflation is assumed to be 2.5% each year.
6. It is assumed that no further contributions are paid.
7. Values shown are estimates and are not guaranteed.
8. The product charges and fund charges assumed are as shown in the Product Charges, Fund Charges and Transaction Costs enclosure. The assumed transaction costs are based on the average of the actual transaction costs for each fund over the last three scheme years and are shown in the table in note 9.
9. The projected growth rate for each fund are as follows: