Risk factors

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

• The value of the units which make up your fund can go down as well as up, so the value of your fund is not guaranteed. It is particularly important to remember this if you are close to taking your benefits. Please remember that your money is tied up until you take your benefits.
• The amount of pension income provided by your retirement fund will depend on a number of things, including investment returns and the rates available to buy your pension when you decide to take this benefit.
• The fund or funds you choose to invest in will have specific risks. These risks are described in the leaflet, Choosing your investment fund (PDF 89KB).
• We can increase our charges but we will let you know before we make any change. The Total Annual Management Charge will not exceed the Government's maximum permitted charge for Stakeholder schemes, which is currently 1.5% a year of the value of the fund for the first 10 years of your plan, and 1% a year thereafter.
• If you decide to cancel within the 30-day cancellation period, your refund may reflect any reduction in investment value. You can read more about Your Right to Change your Mind at the start of our online application form.
• The law and tax rates may change in the future and the value of tax relief will depend on your individual circumstances.
• You should be aware that joining a pension scheme may not be suitable for you, particularly if small amounts of savings may affect your entitlement to any means tested state benefits.
• The past performance of a pension fund is not an indicator of its future performance.