Your pension savings in the UWP Series 1 fund include a guarantee

Pension plans like yours can be made up of two types of units: ordinary units and initial units. Your guarantee varies depending on which types of units you have.

  • Initial units were bought with payments made in the first year of your plan to help cover setup costs. They have an annual management charge of up to 7.75% of the fund value.
  • Ordinary units were bought with all other payments after the first year. They have an annual management charge of up to 1% of the fund value.

Not everyone has initial units. You can see the types of units your plan includes in the Personal Offer Statement we sent to you.

We explain how the different guarantees work below.

Your guarantee is valuable

Not many pension plans offer these kind of guarantees or certainty. They may carry more risk, and the value of your savings can go up or down.