Your futurejust got clearer!LifeSight Welcome Guide

LifeSight helps you get the most out of your pension savings

Your LifeSight Account gives you sight of your future, so that you are in the best position to reach your goals. We make understanding your pension simple and managing it easier. We’ll also be in touch throughout your savings journey, helping you every step of the way.

Together, we’ll help you to reach your pension savings goals.

It’s simple to use

We offer different ways to invest and access your

savings. We explain the options and you make

the choice.It’s all about you

The more information you can tell us online, the clearer and more

personalised your experience will be.

It gives you choice

You’ll find out when you may be able to afford to retire, using the LifeSight ageOmeter. It tells

you when

Everything you need is online. But if you do need more help, you can contact the LifeSight Team. See page 11 for details.

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Activate your LifeSight Account

First things first, you need to go online and activate your LifeSight Account. This only takes a minute and, once logged in, you’ll be able to enjoy a great pension savings experience.

See the covering letter you received with this Guide for details on how to activate your LifeSight Account.

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Contribute2 Invest31 The big picture

Knowing the age at which you may be able to afford to retire – your predicted LifeSight Age – can help you to see your bigger picture. You can use the LifeSight ageOmeter to play with different investment and contribution options, as well as enter other savings information, to find a LifeSight Age that works for you.

age

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Invest How to retire4 Take action5

The first time you log on, your predicted LifeSight Age will be calculated using the information we have about you, predictions about how your savings may grow and assumptions about how much money you may need in later life.

Is your initial LifeSight Age not what you expected? Use Step 1 to tell us more about your financial situation and any savings you have to fund your retirement, to help us predict your LifeSight Age more accurately.

Note: LifeSight Age is a prediction only and not a guarantee regarding retirement age or savings level.

Next steps

Use Steps 2, 3 and 4 of the ageOmeter to find out how different contribution and investment choices affect your LifeSight age and find an option that suits you best.

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Contribute

The more you contribute now, the younger your LifeSight Age could be.

Think about what you can afford each month and use the LifeSight ageOmeter to see the impact this has on the age at which you could afford to retire.

You can also see the impact that different contribution rates make to the value of your LifeSight Account using the Savings Planner. Find out more on page 9.

Remember, contributions won’t cost you as much as you think because you benefit from tax relief at your highest rate of tax, up to certain limits.

Note: if you have left, or leave, your employer then you may not be able to contribute to LifeSight. You may, however, be able to transfer other pension savings into LifeSight to take advantage of the investment options available. The value of your LifeSight Account will remain in your chosen investment funds and we will keep you up to date with relevant news and messages. We’d recommend that you take impartial financial advice before making a decision about transferring in other pension savings.

Save as much as you can

Your employer may also contribute to your LifeSight Account. You can read about contributions, including how to change them, in the Plan Guide, available in the online LifeSight Bookshelf.

The Bookshelf contains all the important documents about LifeSight, meaning that you can log on and learn about your pension whenever suits you best.

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Invest

LifeSight offers a comprehensive range of investment options. Each option has an impact on your predicted LifeSight Age and the level of savings available to you at retirement. To help you choose what is right for your personal circumstances, decide:

Higher-risk investment options often mean a younger LifeSight Age but less certainty about achieving this – giving you a wider range of possible ages. This is because these type of investments aim for high growth but can also fall in value from time to time.

Note: if you do not make a choice, your LifeSight Account will continue to be invested in the ‘default’ option (unless you are told otherwise), as set out in the Investment Guide. You should carefully consider making a choice as the ‘default’ option may not be right for you. Once you get online, you can use the information available to help you decide what is right for you.

Lifecycle: choose from nine options based on the level of investment risk you want to take and how you plan to access your savings in the future. This means less involvement for you as all nine options automatically manage your investment mix as you approach retirement.

Lower-risk investments may mean an older LifeSight Age but they offer more certainty – giving you a narrower range of possible ages. This is because these types of investments target lower levels of growth but are also better protected against falls in value.

Freechoice: you are fully involved as you choose from the wide range of Freechoice investment funds, and monitor and update these yourself throughout your savings journey.

Find the right fit

How much investment risk you feel you are able to take1 How involved you want to be in the

investment of your LifeSight Account2

Different investment charges apply to the options available. We recommend you read the Investment Guide, available in the online LifeSight Bookshelf, for more information on your options, and the Charges Sheet, for details of the charges that apply to each option.

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How to retire

You can access your LifeSight savings at any time once you have reached what is known as the ‘minimum pension age’.

This is currently age 55, although it is increasing to age 57 by 2028. From 2028, it will always be 10 years before the State Pension Age.

When the time is right you will be able to take one, or a combination, of the following options:

You only need to make a decision about which retirement option to choose when you are ready to access your savings.

However, telling us which option you think you will most likely choose for the majority of your savings is important when making your investment choice. It will also help us to calculate a more accurate LifeSight Age for you.

If you’re not sure or don’t want to decide yet, then you may wish to revisit this decision at least 15 years before your intended retirement age.

DrawdownThis option may suit you if you want to keep your savings invested and withdraw them as and when you wish.

AnnuityThis option may suit you if you want to use your savings to buy a regular, secure income from an insurer.

CashThis option may suit you if you would like to access some or all of your savings in the short term (with a tax bill to pay now).

Look ahead

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Savings Planner

The Savings Planner allows you to play around with different contribution and investment options to see the impact they may have on your pension savings. You can also use the Savings Planner to review your current savings position in more detail, forecast how much you may have saved at retirement and see what this would mean if you chose Drawdown, bought an Annuity or select Cash. Once you have found a scenario that you feel comfortable with, you can apply any changes to your LifeSight Account through a few simple clicks.

Take action

You can safely play with the figures in the ageOmeter and Savings Planner to see the impact that different contribution and investment choices have on your predicted LifeSight Age and pension savings. No changes will be made unless you confirm them on your LifeSight Account.

Once you are happy, you can update your choices to put your new plan in place. Simply follow the instructions on screen.

Important: Although you may play with different choices using the tools, each time you log on your predicted LifeSight Age will always reflect your current choices.

Note: Switching investment options may mean a change in the charges for your LifeSight Account. Please see the Charges Sheet, available through your LifeSight Account, for more information.

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Leaving LifeSightIf you leave your company, you can either:

• Continue to be a member of LifeSight. Your savings will remain invested and you can continue accessing your LifeSight Account. You will also be able to continue updating your investment choices but you will no longer be able to contribute.

• Transfer the savings in your LifeSight Account to another pension arrangement.

If you decide to transfer out, full details of your options would be sent to you on request.

More about LifeSightTrustees

LifeSight is governed by an independent Board of Trustees. They have a duty to keep members’ best interests in mind when making decisions. The Board has many responsibilities, including reviewing the range of LifeSight investments, ensuring legal compliance and choosing partners to work with.

Communications

LifeSight is with you for life. We will get in touch with you at important times throughout your savings journey to help you stay on track, and we will show you information that is relevant to you so that you can make important decisions.

The Trustees will also provide you with the annual LifeSight newsletter and your annual benefit statement, which explains how your LifeSight Account has performed over the year.

All you need to do is make sure you keep your contact details, such as email and postal address, up to date to benefit from the LifeSight experience.

If you do decide to transfer out or leave LifeSight completely, then we would stop sending you communications and close down your LifeSight Account.

Look after your loved ones

You need to let the Trustees know who you would like to receive the money built up in your LifeSight Account (along with any additional benefits provided by your employer) in the case of your death by filling out your Nomination of Beneficiaries choices online.

The Trustees will always consider your wishes, but for legal and tax reasons, they are not obliged to follow them. You can review and update your beneficiary nomination details at any time online.

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Contact informationFull details of your benefits and choices are available in the online LifeSight Bookshelf.

Contact LifeSight

The LifeSight Team Willis Towers WatsonPO Box 758RedhillSurreyRH1 9GT

Email: lifesightsupport@willistowerswatson.com

Financial advice

Although LifeSight offers you lots of tools and resources to help you through your savings journey, neither the LifeSight Trustees nor the LifeSight Team can give you investment or financial advice. The following links can be used for further help:

www.pensionwise.gov.uk A free and impartial government service that helps you understand the options for your pension savings.

www.unbiased.co.uk Find impartial financial advisers in your local area to discuss your options.

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Your ‘to do’ list:

Log on to your LifeSight Account

Check your personal information

Discover your predicted LifeSight Age

Adjust your contributions and investments, if appropriate

Let us know your preferred retirement option

Nominate your beneficiaries

Keep your contact details, including your email address,

up to date

Can’t get online?

Contact the LifeSight Team – see page 11 for details.