Money Purchase (DC or AVC) Funds

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In March 2023, The Trustee completed a bulk transfer of all Money Purchase funds to The Aon Master Trust. If you were a deferred member of the Scheme in March 2023, and you had contributed to the Defined Contribution (DC) section and/or you had made Additional Voluntary Contributions (AVC) you should have received a letter telling you about the transfer. Your Defined Benefit (DB) entitlement remains with the Invensys Pension Scheme.

What happens at retirement?

You have a range of options available to you from The Aon Master Trust.

• If you want to use some or all of your funds held in The Aon Master Trust to provide you with a tax free cash sum, you may transfer the fund back to the Invensys Pension Scheme, subject to HMRC limits. There are limits on how much can be transferred back to the Invensys Pension Scheme so please check with the administration team if you are unsure.

• If you want to take your funds from The Aon Master Trust at a different time than your Invensys Pension Scheme benefit, you can. If you choose this option, you won’t be able to use your funds held in The Aon Master Trust to provide tax free cash from your Invensys Pension.

• Further options such as drawdown are available to you directly from The Aon Master Trust. Please log in to your Aon Master Trust personal account to find out what is available.

• The transfer back facility has been agreed with Schneider Electric and The Aon MasterTrust because the Trustee believes it is a valuable benefit to members and it is allowed under the HMRC and Government regulations currently in place. As with all regulations, there may be changes in the future and it is possible that the transfer back facility could be withdrawn if it is no longer allowed. The Trustee does not expect this to be the case, but we recommend that members check their entitlements under the Scheme as part of their regular retirement planning.

Your Online Account With Aon

You can see the current value of your Money Purchase fund by visiting The Aon Master Trust and logging into your personal account.

You can also change your investment options and find out more about how you can access your fund.

You have automatic access to a wealth of online information and tools on your member website to help you make all the important decisions throughout your career about your financial future including:

• Access to The Aon MasterTrust secure member website where you can monitor and manage your Account.

• The ability to view all your supporting documents in one place online.

• You can also use a variety of retirement modelling tools

You also get access to;

• The Money financial module, which enables you to keep track of your everyday spending and saving, get discounts on everyday spending and to set your own spending and saving goals.

• Support, information and other tools to help you to make the right decisions such as helpful videos and employee case studies.