TAKING ON YOUR FUTURE TOGETHER
Cumbria Local Government AVC Pension Scheme
YOUR RETIREMENT JOURNEY
The experts at the Pensions and Lifetime Savings Association have published a set of retirement living standard to help you picture your retirement and what it might cost. They are pitched at three levels, (minimum, moderate and comfortable) based on a basket of goods and services, from food and drink to holidays.
RETIREMENT BASICS
Tools & calculators
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Pension Investment Approaches guide (PDF, 191KB) This guide explains how our pension investment approaches work. Investing responsbily with your pension (PDF. 2.3MB) This guide provides information on how Scottish Widows are investing responsibly. We may have provided links to documents and other information supplied by third parties (including your employer and their advisers), who are solely responsible for their content and accuracy. All statements, views and opinions contained in these documents and other information are those of the third parties, not Scottish Widows.
If you want to switch your funds, we recommend speaking to a financial adviser (you may be charged for this service). If you don't have a financial adviser you can find one in your local area at www.unbiased.co.uk. If you are clear on which fund you want to move to, you can call us on 0345 300 2443.
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Your pension (PDF, 1.8MB) This guide, from the independent Money Advice Service, is also designed to give details on the options available to you when you start to think about taking your benefits. We may have provided links to documents and other information supplied by third parties (including your employer and their advisers), who are solely responsible for their content and accuracy. All statements, views and opinions contained in these documents and other information are those of the third parties, not Scottish Widows.
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A guide to pension tax (PDF, 3.2MB)
This guide provides information on the tax treatment of pension payments. Important notes for applications (PDF, 68KB) Important notes to be read if you are joining the scheme. We may have provided links to documents and other information supplied by third parties (including your employer and their advisers), who are solely responsible for their content and accuracy. All statements, views and opinions contained in these documents and other information are those of the third parties, not Scottish Widows.
| Member guide (PDF, 100KB) | This guide should answer most of the questions you might have about your plan. |
| Application form (PDF, 594KB) | If you want to join the scheme please complete the application form and return to your employer. |
| Policy provisions (PDF, 250KB) | This contains details of the terms and conditions of the plan. |
| Key features of your plan (PDF, 293KB) | This contains important information about your plan which you need to read. |
| Example illustration (PDF, 85KB) | This illustration shows our standard charges and how they could affect what you might get back. Your actual charges may be different from those shown, please see your personalised illustration for details of these. |
We may have provided links to documents and other information supplied by third parties (including your employer and their advisers), who are solely responsible for their content and accuracy. All statements, views and opinions contained in these documents and other information are those of the third parties, not Scottish Widows..
YOUR QUESTIONS ANSWERED
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Many employers provide a workplace pension for their staff. Workplace pensions can be a good option as most employers will also make a regular contribution to your pension.
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Under automatic enrolment, there is a minimum total contribution that must be paid into your pension. The amount is set by the Government and is made up of your and your employer’s contributions, as well as tax relief on your contribution.
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You can find out more about your investment choices in the Key Documents section of the scheme infosite. You may want to review your current investment choice and be comfortable that these are still aligned to your attitude to risk. If you are still unsure what to do you could speak to a financial adviser to help you. Please note, you’ll need to pay for this.
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Retirement calculators help you to understand what each pension option could mean to you. You can also explore how tax will be applied when taking all or some of your money out.
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