This document discusses retirement planning and life assurance provision for employees of Alzheimer Scotland. It addresses key questions about saving for retirement, sources of retirement income including state pension and personal pension plans. It provides details on Alzheimer Scotland's group personal pension plan through Standard Life, including contribution options, investment choices, and how benefits are paid out at retirement. It also outlines the life assurance benefit provided automatically to employees at no cost, with a lump sum payment made to nominated beneficiaries in the event of death.

1. Alzheimer Scotland
Your Retirement and Life Assurance Provision
19 May 2015

2. Agenda
 Retirement
 Life Assurance

3. Retirement – Sources of Income
Retirement
Income
State Pension
Benefits
Pension Funds
Other
savings/income

4. Saving for retirement – essential questions
1. What if I don’t save for retirement?
2. When do I want to retire?
3. How do I want to live in retirement?
4. Will I be able to retire?
5. Can I, and do I want to save for retirement?

5. What if I don’t save for retirement?
Retirement
Income
State Pension
Benefits
£0
£0

6. When?
 Male or female
 When were you born
 No earlier than State Pension Age
How much?
 Number of years you have paid National Insurance Contributions
(NIC)
www.gov.uk/calculate-state-pension
Key questions and where to get the answersState Pension
Benefits

7. Alzheimer Scotland Group Personal Pension
Plan (GPP)
Benefits – When &
What?
Contributions – How
much?
Investment – Which
fund(s)?

8. Benefits - When?
Earliest date you can take your Alzheimer Scotland Pension Plan
benefits:
 Currently age 55
 Increasing to 57 from 2028
 Thereafter, no earlier than 10 years before State Pension Age
Selected Retirement Age
 You choose – if not, default age 65
 Annual Plan statement benefits projection
 Sets date for lifestyle investments
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9. Benefits – What?
Your Alzheimer
Scotland Pension Fund
Cash 25% tax
-free
+
Pension
Cash 25% tax-
free + 75%
taxable
Drawdown –
each payment
25% tax-free,
75% taxable
Pension
Cash -25%
tax-free +
taxable
drawdown

10. Retirement Options – Support
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Current Financial
Adviser
At Retirement –
Alzheimer Scotland
Adviser Facility
Local IFA
(www.unbiased.co.uk)
At Retirement -
Guaranteed Guidance

11. Benefits – What?
Contributions
Investment
Returns
Your
Alzheimer
Scotland
Pension Fund

12. Contributions - How it works?
Standard Life
Employer
Contribution –
10%
Employee
Contributions - Min
3% (x80%)
Tax Relief
(20%)

13. Contributions – Alternative Salary Exchange Option
 You agree your future basic salary be reduced by the amount of your
gross pension contribution.
 The Company pay this contribution into your pension before any
income tax & NI is deducted.
 All of your pension contribution must be exchanged
 All contributions are paid to Standard Life as an employer
contribution

14. Contributions - Net pay versus salary exchange comparison
Net Pay Salary Exchange Impact
Basic Gross Salary £20,000 £19,400 £600 exchanged
Tax £1,880 £1,760
NI £1,432 £1,360
Employee pension contribution* £480 £0 Exchanged
Net Pay £16,208 £16,280 £72
Employer pension contribution + £2,000 £2,600
Total pension contribution £2,600 £2,600
Example: Sally Support earns £20,000 pa with 3% contribution
*Net: 20% tax relief added by Standard Life (£120). Higher tax payers claim relief through self assessment
+ Employer contribution is 10% of basic pay
Based on tax and NI rates for the 2015/16 tax year

15. Key questions and planning support
1. When - Am I saving enough?
2. Lifestyle - Am I saving enough?
3. Ability - Am I saving enough?
4. Capability – Can I/will I save enough?

16. Potential Reward
Risk
Risk vs. Reward
Cash
Specialist
Equities
Equities
Property
Bonds

17. Investment - Options
Self
InvestmentCautious Balanced Adventurous
You can choose an investment approach that reflects your personal attitude
to risk and reward
Default option

18. Investment - Options
1. Default Investment Option - Lifestyle Strategy - Standard Life Cautious
Managed II Profile
2. Alternative Standard Life lifestyle strategies - Refer to their
investment guide
3. Select your own funds - Range of over 200 funds available from
Standard Life. Externally managed funds - may be an additional
charge.
Useful links
Risk Profiler: https://www.standardlife.co.uk/c1/guides-and-
calculators/assess-your-attitude-to-risk.page
Fund guide: http://library.standardlife.com/gpen4.pdf

19. Investment – Plan Default Option
Source: Standard Life
Annual
Management
Charge for
Default – 0.57%

20. Investment & Administration - Standard Life Online
Services
 Access individual policy details and update
 View contributions
 Valuation of your policy
 Switch funds
 Projections
 Access to tools and calculators
Registration process:
 https://www.standardlife.co.uk/1/site/uk/register
 Follow online instructions
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21. Planning For Your Retirement – Summary Considerations
 www.gov.uk/calculate-state-pension
 Individual annual benefit statement
 www.standardlife.co.uk/c1/guides-and-calculators/pension-
calculator
 Previous employers pension schemes or individual pension policies
 www.pensiontracingservice.com
 Other savings and/or income available on retirement ?
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State Pension
Benefits
Your Alzheimer
Scotland
Pension Fund
Other Pension
Funds
Other
Savings/Income

22. What happens if….I die before taking my retirement benefits?
 The funds returned to your nominated beneficiary(ies) as a tax free
lump sum
 Nomination forms available from Standard Life’s website
 No completed nomination – Standard Life consider all potential
beneficiaries before paying out benefits
 Change of personal circumstances/nomination - Inform Standard Life to
ensure your funds are distributed in line with your wishes.
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23. What happens if….I leave Alzheimer Scotland?
Options available:
1. Transfer your funds to another registered pension arrangement
2. Continue to make personal contributions to the Plan
3. Suspend contributions and restart later
4. Make no further contributions and leave funds invested until you
take benefits
You will not be entitled to a refund of contributions if you leave the Plan.
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24. Life Assurance – Nominating Your Beneficiaries
 Trustees – Alzheimer Scotland
 Trustees discretion to whom benefit payable = exempt from
Inheritance Tax
 Nomination Form available from Trustees
 Completion supports payment of benefits with minimum delays
 Complete updated form if circumstances/wishes change
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25. Life Assurance
Insurer Aviva
When am I eligible? All permanent employees aged 16 – 75
When can I join? On commencement of employment
How do I join? Automatically included
What do I pay? Nothing, full cost met by Alzheimer Scotland
Benefit Lump sum = 3 x your earnings (before salary exchange) subject
to a minimum of £5,000
Contract workers – annual basic salary
Seasonal – total earnings declared in tax year before death
When is it paid? In the event of your death as a permanent employee of
Alzheimer Scotland
Who is this paid to? Your nominated beneficiaries, at Trustees discretion
Is this a taxable benefit? No, exempt from Inheritance Tax
When does cover cease? Earlier of employment ceasing with Alzheimer Scotland or
attainment of age 75

26. Questions
?

27. Disclaimer
The contents of this presentation are confidential and not for onward distribution. Disclosure to third parties
cannot be made without the prior written consent of Mazars Employee Benefits Limited.
The information presented does not constitute advice.
It is based on our current interpretation of UK legislation and HMRC practice at the date of production. This may
be subject to change in the future and any tax rates or reliefs may be altered. Professional advice should be
sought prior to making any decision and Mazars Employee Benefits Limited will not accept responsibility for
decisions taken solely on the basis of the information presented. Some services offered by Mazars Employee
Benefits Limited are not regulated by the Financial Conduct Authority.
Mazars Employee Benefits Limited is an Appointed Representative of Mazars Financial Planning Limited which is
authorised and regulated by the Financial Conduct Authority. Registered in England and Wales No. 03893679 with
its registered office at Tower Bridge House, St Katharine’s Way, London, E1W 1DD.
Mazars Employee Benefits Limited and Mazars Financial Planning Limited are both wholly owned subsidiaries of
Mazars LLP, the UK firm of Mazars, an integrated international advisory and accountancy organisation