Scheme summary
Scheme name: [Scheme name]
Scheme number:[Scheme number]
Plan type: Retirement Solutions Company Pension Plan
Scheme summary date: [date of extract]
[Auto enrolment staging date: [Insert date]][1]
The information contained in this summary is based on our records, as at the scheme summary date.This information is provided to assist the trustee(s) with their responsibilities for scheme assessment and reporting.
Scheme summary
Scheme status:[Active scheme / Paid up scheme/ Transfer payment only scheme] [2]
[Auto enrolment status:Pre-auto enrolment scheme / Auto enrolment scheme/ Qualifying scheme/Non-qualifying scheme][3]
[New members can join the scheme: Yes][4]
[Scheme can be used as a qualifying scheme:[Yes][5] [No][6]][7]
[Will the charge cap apply:[Yes - When a scheme becomes an auto enrolment or qualifying scheme Royal London ensures that the charges comply with the Government’s auto enrolment chargecap.][8] [No][9]][10]
Additional money can be paid to the scheme: Yes
Costs and charges
Annual management charge
Category / Regular contributions / Single contributions / Transfer payments / Regular AVCs / SingleAVCs
[Insert additional rows as necessary – this will need to be done manually]
The annual management charges above are the default charges.Individual members may have different charges depending on the investments held and commissionpaid.
Bid offer spread:No
100% of the money paid in invested:[Yes][11][No. The allocation rate would be lower than 100% if single contribution commission or transfer payment commission was taken.][12]
Exit charges: [No][13] [An exit charge will apply to members’ accounts where Royal London increased the transfer payments we received.][14]
Commission on scheme:[No][15] [Yes, this is included in the charges above.][16] [Commission will be removed in line with the auto enrolment legislation.][17]
[Financial Adviser’s Fee (FAF) on scheme: Yes][18][. FAF payments and charges will be removed in line with the auto enrolment legislation.][19]
[Consultancy charges (CC) on scheme: Yes. CC will be removed from the auto enrolment staging date.][20]
Default investment
Category / Default investment[Insert default/fund name(s)]
[Insert additional rows as necessary – this will need to be done manually]
Find out more about the default investment / employer.royallondon.com/investmentFind out more about investment governance / employer.royallondon.com/investment/governance
14Z1317
[1] Print if already a QS or AE scheme
[2] Print the status of the scheme (only show ‘paid up’ if no active categories and only show ‘transfer payment only scheme’ in no active or paid up categories in the scheme)
[3] Print the AE status of the scheme if an Active scheme
[4]Do not print if scheme is Paid up
[5]Print if an Active scheme
[6]Print if a Paid up scheme or Transfer payment only scheme
[7] Do not print if already a QS or AE
[8]Print if an Active scheme
[9]Print if a Paid up scheme or Transfer payment only scheme
[10] Do not print if already a QS or AE
[11] Print except if version 1 scheme
[12] Print if version 1 scheme
[13] Print if no TVEO applies
[14] Print if TVEO applies
[15] Print if no non-FAF commission on scheme
[16] Print if non-FAF commission on scheme
[17] Print if non-FAF commission on scheme and already a QS or AE, or Retirement Solutions active scheme
[18]Print if FAF commission on scheme. Only need to print for 4 schemes: 60559, 60560, 60565, 60631
[19] Print if FAF commission on scheme and it is an active scheme
[20] Only need to print for one scheme:THE GSS RETIREMENT BENEFITS SCHEME (scheme number 60743 as this is the only CC scheme we have.