Legal & General (L&G) manage the Stakeholder Plan. Each member has an individual contract with L&G.

The L&G Mastertrust is looked after by independent, professional Trustees, appointed by Legal & General.

The L&G Mastertrust is also administered by Legal & General.

What you and Sibelco pay into the Stakeholder Plan depends on your age. The older you are, the more of your Pensionable Earnings go into your pension pot each time you’re paid.

You also have the option to pay more, if you want to. If you pay in more, so will Sibelco – up to a certain amount – which also depends on your age.

Find out more about what you and Sibelco pay, depending on how old you are.

What you and Sibelco pay in each time you’re paid won't change.

Plus, you will continue to be able to choose to pay more if you wanted to. If you pay in more, so will Sibelco – up to a certain amount – which will also depend on your age, just like it does today.

Find out more about what you and Sibelco pay, depending on how old you are.

You pay into your pension pot through something called ‘Smart Pension’ (also known as ‘Salary Sacrifice’) if you’re eligible.

This is a tax efficient way of paying into your pension and means that you give up the part of your pay that you would otherwise have paid into your pension, and Sibelco pays that amount into your pension instead. As a result, most members pay less in National Insurance and less tax.

Your Pensionable Earnings is based on your salary, excluding any bonuses or benefits-in-kind you might get (and before you give up any salary under Smart Pension).

If you haven’t made your own investment choice, your pension pot will be invested in the L&G Multi-asset Lifestyle.

You can also pick from a range of self-select funds.

If you’re not sure how your pension pot is invested, you can check by logging into your L&G pension account, My Account (MA).

If you don’t make your own investment choice, your pension pot will be invested in the L&G Lifetime Advantage Funds (‘LAF’).

But, just like today, you will continue to have a number of other options for how to invest your pension pot, which will include:

• a range of L&G Target Date Funds,
• a range of Self-Select funds, and
• a range of Self-Select Lifestyle strategies.

Find out more about how your pension pot will be invested.

What charges you pay today depends on the value of your pension pot:

• If the value of your pension pot is £50,000 or less: you’ll pay 0.5% of the value of your pension pot each year.
• If the value of your pension pot is more than £50,000: you’ll pay 0.5% each year for the first £50,000 and then 0.3% each year for anything more than £50,000.

You can check the value of your pension pot by logging into your L&G pension account, My Account (MA).

What charges you will pay will depend on how your pension pot is invested.

If your pension pot was invested in the L&G Lifetime Advantage Funds (‘LAF’) you will pay between 0.27% and 0.40% of the value of your pension pot each year (depending on how many years you are from retirement).

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This will mean that if your pension pot is invested in the L&G Lifetime Advantage Funds (‘LAF’), and

• the value of your pension pot in the L&G Mastertrust was more than £100,000, and
• you are more than 15 years away from retirement,

then the charges that you will pay in the L&G Mastertrust will be higher than what you pay today in the Stakeholder Plan if your pension pot is invested in the L&G Multi-asset Lifestyle (the current automatic investment option for members who do not make their own choice).

This set of circumstances only applies to a small number of members (based on data from the start of Consultation). Most members will pay less in charges in the L&G Mastertrust than they do today in the Stakeholder Plan.

Remember, you don't need to transfer your existing pension pot from the Stakeholder Plan to the L&G Mastertrust. You can choose to leave it in the Stakeholder Plan instead.

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If you choose to invest your pension pot in a different way, you can check the investment charges that you will pay in the 'Guide to the L&G Mastertrust fund range (Stakeholder Plan)'.

You will continue to pay all charges.

You’ll find more about the L&G Mastertrust fund range, including the charges that you will pay in the 'Guide to the L&G Mastertrust fund range (Stakeholder Plan)'.

A lump sum of 2x your Pensionable Earnings is paid to your loved ones at the time of your death. This is known as a ‘death-in service’ benefit and is provided by an insurance company.

Plus, your loved ones would get the total value of your Stakeholder Plan pension pot.

A lump sum of 2x your Pensionable Earnings will continue to be paid to your loved ones at the time of your death.

Plus, your loved ones would get the total value of your pension pot from the L&G Mastertrust (plus any savings that you have chosen to keep in the Stakeholder Plan).

You can check how your pension pot is doing at any time by logging into your L&G pension account, My Account (MA).

If you’re already registered, you can log in to your online account using your user ID and password.

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If you haven’t registered, it’s quick to do. Just follow these three steps:

1. Visit My Account (MA).
2. Complete your personal details. You’ll need your account number which is shown on any letters you’ve been sent by L&G.
3. L&G will then send you an email which will contain an activation link to complete your registration.

You will continue to be able to check how your pension pot is doing by logging into your L&G pension account, My Account (MA). Your user ID and password won’t change.

So, if you haven’t already registered for an account – now is a great time to get yours set up.