RS
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 charge cap.]8 [No] 9]10
Additional money can be paid to the scheme: Yes
Costs and charges
Annual management charge
Category
Regular
Single
Transfer
contributions contributions payments
Regular
AVCs
Single
AVCs
[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 commission paid.
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
Print if already a QS or AE scheme
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
1
2
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
Find out more about investment
governance
employer.royallondon.com/investment
employer.royallondon.com/investment/governance
14Z1317
Print if no TVEO applies
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.
13
14