Frequently Asked Questions

The exact contribution the company makes depends on your age and how much you have decided to pay. Contributions are based on pensionable earnings.

If you choose to pay at the standard rate of 5%, the company pays:

Company Contributions

If you choose to pay at half rate, the company will also pay at half rate. If you choose not to contribute, the company will pay a flat rate contribution of 2.5%, irrespective of your age.

The company will also add 50% to any AVCs you choose to make. (Maximum AVCs are 10% of pensionable earnings plus 15% of non-pensionable earnings each month).

Contractual paid leave is treated normally for every purpose of the Lifestyle Plan. In the event of temporary absence for other reasons it may be necessary to restrict the amount of death in employment benefits where the Trustees' insurance of the benefit has been restricted by the insurers.

If you have pension benefits with your previous employer's company pension scheme, or perhaps in a personal pension, you may wish to transfer these into the Lifestyle Plan. Please contact the Legal & General helpline on 0345 6780297 if you are interested in transferring previous pension benefits.

On termination of employment the following options are available:

(a) All of the money paid into your Lifestyle Account can remain invested until you retire, at which time you can choose to use it as you wish. This includes your contributions and all of the money paid by the company. You can still choose from the full range of investment options.

(b) Your Lifestyle Account can be transferred out of the scheme to another pension account. You can choose to transfer your account at any time before you use it to secure retirement benefits.

In the event of your divorce, one of the options available for dealing with your benefits under the Lifestyle Plan is for the court to make a Pension Sharing order. The order would specify an amount to be deducted from your Lifestyle Account. The amount could then be transferred into a pension account nominated by your ex-spouse.

The Trustees have established scales of administration charges for dealing with Pension Sharing court orders. These charges would be payable by divorcing couples.

The Trustees of the Lifestyle Plan have established procedures for dealing with disputes in accordance with the requirements of the Pensions Act 1995.

In the first instance it is hoped that all questions and complaints will be dealt with successfully on an informal basis either by Legal & General or in some cases by individual trustees. However, if you are dissatisfied with the response to a question or complaint and wish to bring a formal complaint you will need to follow the formal procedures.

If you wish to make a formal complaint you should contact Legal & General, please see the 'useful contacts' page for the address.

On receiving your complaint Legal & General will respond to it within 28 days.

If you are dissatisfied with the reply you receive you may refer the case to the trustees for reconsideration. On receiving your complaint the Trustees will respond to it within two months.

Lump sum benefits arising on death are paid under trust. This means that the Trustees have to decide who is to receive the benefit. The purpose of this arrangement is to ensure that the payment is free from inheritance tax under current legislation and that it can be paid quickly.

Although the Trustees have the final decision as to who should receive any death benefit you are encouraged to complete a Nomination of Beneficiary Form to indicate your wishes regarding possible Beneficiaries.

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If you are an active member of the plan you should contact HR who will inform Legal & General.

If you are a deferred member of the plan you can update your contact details by logging on to Manage Your Account, contacting the Legal & General helpline on 0345 678 0297 or by e-mailing guardianpensionenquiries@landg.com

Complete the Target Retirement Age form or contact the Legal & General helpline on 0345 678 0297.

You have the opportunity to pay more into your Lifestyle Account by increasing your contributions. Please see What contributions are paid into the Lifestyle Plan? for more information.

We would always recommend taking financial advice to make sure that transferring is the right thing for you.

You can find an adviser in your local area at unbiased.co.uk

If any of the following points below apply to your plan, your adviser will need to recommend that the transfer is right for you before we can accept your money.

• it's a final salary scheme;
• is invested in With Profits;
• has a Guaranteed Annuity Rate;
• has a Guaranteed Minimum Pension;
• is in Income Drawdown or Flexi-Access Drawdown.

You can check if any of these apply to you on your most recent pension statement from your previous provider.