New Generation Personal Pension Plan

Reviewing your investments

New Generation Personal Pension Plan

Reviewing your investment funds

Now that you have left your previous employer's scheme, the range of funds available to you may have changed. In this brochure we aim to help you achieve a better understanding of the funds that are now available to you and what you need to consider. This document was produced in July 2022 and is accurate as at that date. When reviewing your fund choices you should refer to uptodate information, available online at avivafunds.co.uk or by calling the helpdesk on 0345 602 9221. If you are not confident in making investment decisions, you should contact a financial adviser. You may have to pay for this advice.

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Contents

Understanding investment programmes Your investment programme options Investment funds What you need to think about Working out your attitude to investment risk Fund risk warnings Charges The funds you can choose from More information and help

page 4 page 5 page 7 page 8 page 11 page 13 page 15 page 16 page 43

Important documents

This guide should be read alongside the Key features document for an understanding of the plan aims and risks.

Please read the `With-Profits Summary' for the Aviva Life & Pensions UK Limited FP With-Profits Sub-Fund if you are invested in with-profits.

If you do not have any of these documents, please call

0345 602 9221

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Understanding investment programmes

An investment programme manages your investments throughout your pension journey. As you approach retirement it moves your investments in preparation for taking your pension benefits. On page 5 we show the investment programmes you can choose from.

An investment programme breaks your pension journey into two phases:

Growth phase ? When you are a long way from retirement, your money is invested in funds that aim to grow your pension savings over time.

Lifestyle investment programmes are designed to give you the flexibility to choose some of your own investments if you wish. A Lifestyle investment programme begins when you reach the pre-retirement phase of your pension journey.

During the growth phase, your contributions are invested in the pre-lifestyle investment programme fund(s), which are determined by the scheme. You can change these fund(s) at any time.

If you leave a Lifestyle investment programme, your future contributions will be invested in the pre-lifestyle fund(s).

Preretirement phase ? In the years approaching retirement, the level of risk to which your money is exposed is gradually reduced, in preparation for taking your pension benefits. The length of the pre-retirement phase is determined by the investment programme.

An investment programme will end at your investment programme retirement date (IPRD), which you can change at any time. Your IPRD can be different from your selected retirement date and falls on your chosen birthday. If you continue to make contributions after your IPRD (for example, if you choose to take your pension benefits as income drawdown), these will be invested in the proportions shown at the IPRD in the investment programme charts.

You will be informed before a Lifestyle investment programme begins so that you can change your decision if you wish.

Please note that Lifestyle investment programmes will not switch any money you have invested in the FP With-Profits Sub-Fund or Personal Managed Portfolio (PMP).

Your pension journey

This diagram shows how investment programmes manage your pension journey, from joining your pension scheme to your investment programme retirement date (IPRD).

Fund

switching

IPRD

begins

Lifestyle investment programme

Growth fund(s)

Years

Pre-retirement fund(s)

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Your investment programme options

The following investments programmes are available to you.

The following charts shows how each programme aims to invest your money as you approach your investment programme retirement date (IPRD). All movements of funds are managed by each programme at no extra cost.

These investment programmes may be subject to changes to the funds included in each programme or to the timings of the fund movements and their frequency, in accordance with the terms of your plan.

As your investments are moved to different funds within a programme, your AMC may change.

Please be aware there is no guarantee that these programmes will benefit your retirement savings.

The value of an investment is not guaranteed and can go down as well as up. You could get back less than the amount paid in.

If you are unsure about which is the best option for you, we suggest you speak to a financial advisor.

Options

Target % invested in fund

10 Year Lifestyle investment programme

100 90 80 70 60 50 40 30 20 10 0

10+ 9 8 7 6 5 4 3 2 1 IPRD* Years to retirement

Funds in programme

Pre-lifestyle investment programme funds Aviva Pension My Future Consolidation FP Fund

5 Year Lifestyle investment programme

Target % invested in fund

100 90 80 70 60 50 40 30 20

10 0

5+

4 3 2 1 IPRD* Years to retirement

Funds in programme

Pre-lifestyle investment programme funds Aviva Pension My Future Consolidation FP Fund

* Investment programme retirement date. For more information on IPRD see page 4.

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