The Financial Conduct Authority is the independent financial services regulator.

It requires us, A J Bell Management

Limited, to give you this important information to help you decide whether our SIPP is right for you. You should read
this document carefully so that you understand what you are buying, and keep it safe for future reference.

AJ Bell Youinvest

AJ Bell Youinvest SIPP

Pre-retirement pension fund illustration

Your illustration reference: YI7MP6GR

Your illustration prepared on 28 June 2020

The Financial Conduct Authority is a financial services regulator. It requires us, AJ Bell Youinvest, to give you
this important information to help you to decide whether our AJ Bell Youinvest SIPP is right for you.

You should read this document carefully so that you understand what you are buying, and then keep it safe for
future reference.

This illustration is to give you an idea of what you might get back from your plan over the coming years.
The projected amounts that are shown have been calculated using standard assumptions. They are not
guaranteed but give you an indication of how this plan might perform if growth is achieved at the rates shown.

Your personal details

Name Mr Mrudhul Raj
Gender Male
Date of birth 25/08/1987
Age 32
Tax rate 20%

Your dependant's details

Name Mrs Anupama Mrudhul
Gender Female
Date of birth 02/01/1994
Your plan details
Plan start date 28/06/2020
Illustrative annuity purchase date 25/08/2042

In this illustration, we have assumed that this date is when you will buy a lifetime annuity with all of your remaining
pension fund. Under this plan you can choose to buy an open market annuity at any time from your 55th birthday.

Your contributions

Start date Payment type Amount Frequency Escalation

28/06/2020 Employee (net) £500.00 Monthly None

For net employee contributions, the amount shown in the table above does not include tax relief. Basic contribution
tax relief of 20% will be applied to your contribution.

Standard Lifetime Allowance

The Standard Lifetime Allowance is the maximum amount that you can use to fund pension payments, without
incurring additional tax charges; this is currently £1,073,100. This amount could change in the future; however, this
illustration assumes that it remains at this level.

Your selected investments

Your selected investment fund(s)

Investment name Percentage to invest Low growth Mid growth High growth
Shares (including investment
100.00% 0.00% 2.94% 5.88%
trusts, ETFs, gilts and bonds)

The growth rates shown above are the rates at which the investments have been projected in the section "What
might your benefits be at the illustrative annuity purchase date?". We have adjusted them to take future
annual inflation of 2.0% into account. We assume a 3% difference between the low, medium and high growth
rates. A negative growth rate shows the potential for the value of your assets to decline over time.

Annuity assumptions
The following assumptions have been made about your annuity:

• For the purposes of this illustration, your open market option annuity will commence on 25/08/2042.
However, you may elect to take your annuity either earlier or later subject to you being aged 55 or over.
• Your annuity will be paid at the end of each month.
• Your annuity will be paid throughout the rest of your life.
• Your annuity payments will stay at the same level once payment starts.
• No annuity will be paid to your dependant in the event of your death.

Illustration reference: YI7MP6GR

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28 June 2020
What might your benefits be at the illustrative annuity purchase date?
In this illustration, we have adjusted figures to account for inflation. Inflation is the rise in costs of goods and
services over time.
The table below shows what your fund might be and the annuity that you could buy with that fund in “today’s
money”. We show figures using “today’s money” because inflation reduces how much you can buy in future. Think
about how much £500 could buy 20 years ago and then think about what it can buy you today. The same will be
true in the future.

Low growth Mid growth High growth

Fund £129,000 £186,000 £273,000

Full annuity £2,910 £6,110 £12,300
PCLS £32,300 £46,500 £68,300
Residual Annuity £2,180 £4,580 £9,260

Inflation affects all savings and investments products but not all illustrations take it into account. So, be careful
when comparing products and check whether or not they take inflation into account.

If your total pension benefits exceed your Lifetime Allowance (LTA) you would be liable to pay an LTA charge.

Illustration reference: YI7MP6GR

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28 June 2020
What are the charges?
The charges associated with this illustration are set out below.

Where charges are expressed as a percentage, the amount will vary as your plan value changes over time.

The next section shows the possible effect of product and investment charges on the way your plan grows, along
with the possible effect when all charges are taken.

Product charges
For setting up and managing your plan:

Transfer out to another registered pension

£75.00 plus VAT
scheme
Purchasing an annuity £150.00 plus VAT
Transfer in from another registered pension
£0.00
scheme
Setting up your SIPP £0.00
One off payment of a tax free lump sum £25.00 plus VAT
One off uncrystallised funds pension lump sum £25.00 plus VAT
Regular uncrystallised pension lump sum
£100.00 plus VAT
payments
Regular income drawdown payments £100.00 plus VAT

Investment charges
For managing your selected investments:
Shares (including investment trusts, ETFs, gilts and bonds)

Annual dealing costs £199.00 £9.95 per trade

Custody charge 0.25% no VAT (max. £25 per quarter)

Illustration reference: YI7MP6GR

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28 June 2020
Illustration reference: YI7MP6GR
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28 June 2020
How the charges can affect your plan
Below we show the effect of charges in two ways. In calculating these figures, we have assumed your investments
will grow at the mid growth rates shown in the "Your selected investments" section. The actual growth rates
could turn out to be less than this and you may get back less than you paid in.

All providers have to give you this information to help you compare their charges.

1. How the charges can affect the value of your plan

• The last column shows the effect of all your charges on your plan.
• The last column also shows what you could transfer to another plan.
• All values in the table below have been adjusted to account for future annual inflation of 2.0%.

1 2 3 4
After all charges
The payments Before charges
At end of year are taken
into your plan are taken
from this plan
1 £7,350 £7,550 £7,340
2 £14,400 £15,100 £14,700
3 £21,200 £22,800 £22,100
4 £27,700 £30,600 £29,700
5 £33,900 £38,500 £37,200
6 £39,900 £46,500 £44,900
7 £45,700 £54,500 £52,700
8 £51,200 £62,700 £60,500
9 £56,400 £71,000 £68,500
10 £61,500 £79,400 £76,600
At Age 55 £107,000 £193,000 £186,000

The last line shows the effect of deductions over the full term of your plan. It shows that without charges, your plan
could be worth £193,000, and what it could be worth after charges are deducted.

2. How the charges can reduce the growth rate of your plan
The reduction from £193,000 to:

• £186,000 means that just product and investment charges could reduce the yearly growth rate, after
taking into account inflation, from 2.9% to 2.6%. This is a reduction in growth of 0.3% a year.

Illustration reference: YI7MP6GR

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28 June 2020
Important notes
Your benefits are dependent upon a number of factors; the amount you invest, the age at which you commence
benefits and external influences such as investment returns, inflation, interest rates, annuity rates and charges.

The figures illustrated are only examples and aren't guaranteed - they aren't minimum or maximum amounts. You
could get back more or less than this. You may also get back less than the amount that you have paid in.

You will be sent annual statements which will enable you to keep track of your plan. The statement will show you
all payments received into your plan and payments, including charges, that have been deducted.

All companies use the same rates to show how funds may be converted into pension income.

Your pension income will depend on how your investment grows and on interest rates at the time you retire.

If you were to die before purchasing an annuity, death benefits equivalent to the value of your plan would be paid
to your dependant or to a nominated beneficiary. Depending on when these are paid, tax may be payable.

There is an annual limit on the amount that you can pay into your plan without incurring tax charges. This is called
the Money Purchase Annual Allowance. This illustration does not take into account any tax charge that may be
applicable if this limit is exceeded.

In calculating your benefits, contributions you make before your 75th birthday will attract tax relief. This tax relief
will stop if you continue to make contributions after this date

AJ Bell includes AJ Bell plc and its subsidiaries. AJ Bell Management Limited and AJ Bell Asset Management Limited are authorised and regulated by the Financial Conduct Authority. AJ Bell Securities Limited is a member of
the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority. All companies are registered in England and Wales at 4 Exchange Quay, Salford Quays, Manchester M5 3EE