Cancer Research - Scheme Introduction

Cancer research uk - scheme introduction video

Your scheme introduction video

Welcome to your Cancer Research UK Retirement Plan

Let’s take a look around …

Contributions

Each time you pay in, your employer pays in too. The government also helps in the form of tax relief (limits apply).

To find out how much you and your employer pay in, or to change the amount you pay, go to legalandgeneral.com/cancerresearchuk or speak to your employer.

Investments

Unless you tell us otherwise, your savings will be invested in the scheme’s default lifestyle. This is called the Flexible Lifestyle (Tobacco-Free). If you choose to make your own investment decisions, you should invest your savings in a way that reflects your circumstances and goals.

The way your savings are invested impacts the world around us. To find out more about how we invest your savings responsibly, go to our hub at www.legalandgeneral.com/workplace/esg

Your scheme’s investment guide will tell you what your investment options are. You can review and change the way your savings are invested in your online account at legalandgeneral.com/mya

Charges

You pay an Annual Management Charge of 0.07% for administration, and a Fund Management Charge in the range of 0.14% to 0.18% if you’re invested in the default lifestyle, depending on how much you have invested in each fund.

This means that for every £100 in your retirement savings pot, you will pay a total annual charge of between £0.21p and £0.25p each year. Remember, your Fund Management Charge may change if you choose different investments.  

Retirement options

When you’re ready to start using your retirement savings, it’s important to know what your options are. To find out more visit legalandgeneral.com/cancerresearchuk

Unless you’re suffering from ill health, the earliest you can do this is from age 55 (although this will increase to age 57 in 2028). Generally, the first 25% of your retirement savings pot is tax free, the rest is taxed as income.

Help and advice

Pension Wise (moneyhelper.org.uk/pensionwise) is a service from MoneyHelper and can help with these decisions.

You should also consider taking financial advice. To find a local adviser, go to unbiased.co.uk  Advisers may charge for their services.

We have planning tools that can help you check if your retirement savings are on track. You can find them in your online account or by going to your scheme website.

There are 2 other videos in our scheme introduction series:

• Frequently Asked Questions
• Transferring your pensions to Legal & General.

You'll find them on your scheme website.

Thank you for watching and for saving with Legal & General.