The calculations are based on the following assumptions :

Inflation rate of 2.5%

Stakeholder-implied charges of 1%

Annuity rate of 6.5%

These figures are designed to provide, in general terms, an indication of future
pension benefits and do not constitute a formal personal illustration of
future values. The figures are examples and are not guaranteed and they
are not maximum or minimum amounts. What you will get back will depend on
how your investments grow. Pension contributions
are subject to strict limits set by the Inland Revenue.

All insurance companies use the same rates of growth for illustrations but
their charges vary. They also use the same rates to illustrate how funds
may be converted into pension income. For the purposes of the above calculations,
investments have been assumed to grow at 5% per annum, with annual charges
of 1% (as per Stakeholder). Annuity rates have been assumed at 6.5%.

Do not forget that inflation will reduce what you could buy in the future
with the amounts shown. For the purposes of the above calculation, inflation
has been assumed at 2.5% throughout the term of the investment. Your pension
income will depend on how your actual investments grow and interest rates
at the time you retire. The value of investments can go down as well as
up and is not guaranteed. An investor may not get back the full amount invested.