Risk factors

All investments carry an element of risk. Please bear these points in mind:

• The value of your investments can go down as well as up, so the value of a member's arrangement is not guaranteed. It is particularly important to remember this if you are a member and are close to taking your benefits.
• The amount of pension income provided by a retirement fund will depend on a number of things, including charges, investment returns and the rates available to buy a pension when a member decides to take their benefits.
• If you use the plan to contract out of the State Second Pension Scheme, the amount of pension income provided by the Protected Rights part of the fund may be less than the State Second Pension Scheme would have provided. Neither the Government nor
  Legal & General can guarantee what pension income you will receive.
• The basis for the calculation of the National Insurance contribution rebate is decided by the Government Actuary's Department and can be changed by them at any time. This means that if you use the plan to contract-out, the actual amount of rebate paid into the plan may vary.
• The investments you choose will have specific risks. For insured funds these risks are described in the booklet Portfolio Plus Funds Guide PDF W10979.
• If you invest in a fund that invests in property, it may be necessary to defer encashment of units during periods when property is not easily sold.  The maximum delay is six months.  The value of property is generally a matter of the valuer’s opinion rather than fact.
• If you decide to invest a significant proportion of your overall pension fund in one particular asset, or relatively few assets, rather than investing in a wider portfolio of assets, this is likely to increase your investment risk.
• The law and tax rates may change in the future and the value of tax relief will depend on individual circumstances.
• Past performance is not an indicator of future performance.
• If there is a decision to cancel within the 30 day cancellation period the refund may reflect any reduction in investment value.
• Charges can be varied up or down but we will let you know before we make any change.