Zurich Life Group Pension Plan

Zurich Life Group Pension Plan
Zurich Life Group Pension Plan
Plan Summary
The Zurich Life Group Pension Plan is available to all current employees, who have completed their ‘probation period’ and wish to voluntarily join a Company sponsored pension plan.
The plan has the following features:
Contributions
Percentage of Basic Pay1
You Give Up
NFT Contribution
5%2
5%
6%
6%
7%
7%
8% or more
8% maximumNotes1 ‘Basic Pay’ is different from ‘Qualifying Earnings’ as defined under Auto-enrolment. 2 If you joined the scheme before the 1st September 2013, the minimum contribution required is 4% of basic pay, which will be matched by NFT.
Retirement Age
An employee may select a personalised age from 55 to 75. If no selection is made, the ‘default retirement age’ is 65. An employee can change this at any time.
Fund Choice
Unless an employee chooses another option, the money will be invested in the Balanced Lifestyle strategy (known as the “the default option”).
Employees can ‘self-select’ from 93 additional funds (core & non-core), which offer a range of investment options. These options are detailed in the Zurich Life “Guidance on your Fund Choice” brochure.
Plan Charges
The core plan charge is 0. 56% p. a. of the value of your pension ‘pot’.
Additional charges may apply where you ‘self-select’. These charges are set out in the “Guidance on your Fund Choice” brochure.
Transfers In
Employees will be able to transfer ‘other pension plans’ into the NFT Zurich Life Group Pension Plan. If this is of interest, employees should contact Holden & Partners to discuss further.
How much pension will I receive?
The amount of income your pension may provide is dependent on a number of factors:
The age you take pension benefits
Investment Growth
The amount paid into your pension
Plan charges
To help you to calculate how much you may receive, the Money Advice Service has created a useful pension calculator which can be found at: www. moneyadviceservice. org. uk/en/tools/pension-calculator*
If you are a member of the NFT Zurich Life Group Pension Plan and register for on-line access to your individual plan, you can also use their detailed pension planner.
*Please note, by following this link you will be leaving the NFT website.