tending to your future - mypension tools › assets › uploads › my... · tending to your future...

J.P. Morgan UK Pension PlanYour future. Your choice.

My Investments for the J.P. Morgan UK Pension Plan

Tending to your future

Contents

There are 4 key elements to pension saving that you need to consider in order to maximise your retirement income:

My Investments guide Welcome to the J.P. Morgan UK Pension Plan

Your attitude to risk



1 2

3 4

How you invest your pension account

How you plan to take your savings in retirement

The costs and charges your pension account faces over the period to your retirement

How you invest will depend on your personal circumstances and attitude to risk.

The value of your investments can go down as well as up and past performance is not a guide to future performance. If you are unsure of what investment decisions to make, you should seek impartial financial advice. For details of how to find a financial adviser visit the website.

Neither the Trustee nor J.P. Morgan (the Company) are authorised to give you investment advice, nor are they responsible for the performance of the investment funds.

Why read this guide? This guide helps you consider elements 2, 3 and 4 above. It includes an overview of the basic principles for investing and the different strategies you might want to consider. It also outlines what you might want to think about when investing your pension account. For example, your choice of funds will depend on your personal circumstances and your attitude to risk. You should also take into account factors such as additional savings, other sources of income, how close you are to retirement, and how you wish to take your savings when you retire.

It’s also important to remember that you need to maximise the value of your pension account over your working life. Because of this, making a short-term gain is less important than the performance of your pension account over the whole of your Plan membership.

You can find out more about the Default Strategy in the My Default Strategy guide and more information on the full Freestyle fund range in the guide.

How much you contribute

J.P. Morgan UK Pension Plan

Your future. Your choice.

Prepared

with you

in mind

My Default Strategy for

the J.P. Morgan UK Pension Pl

an

My Fund Range for

the J.P. Morgan UK Pension Pl

an

Go the extra mile

J.P. Morgan UK Pension Plan


2

Your future. Your choice. J.P. Morgan UK Pension Plan

https://www.moneyadviceservice.org.uk/en/articles/choosing-a-financial-adviserhttps://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdfhttps://www.moneyadviceservice.org.uk/en/articles/choosing-a-financial-adviser

Read this guidePages 4-7

Here you’ll find more about:

h Your investment options in the Plan’s fund range

h How the Plan’s funds are managed

h What risks you should consider

Decide how to invest your pension accountPages 8-11

Think about your own circumstances and your attitude to risk:

h Do you want to invest in the Default Strategy or your own choice of Freestyle funds?

h How much risk do you want to take?

h How long until you plan to retire?

h How will you take your savings when you retire?

h Who else do you want to provide an income for?

Get onlinePages 12-15

Visit MyPension to review and make changes to your investment choices:

h Find out how to login to the MyPension and review your investment choices

h Remember why it’s important to stay on top of your investment choices

h Check in regularly

You should review your investments at least once a year (or if your plans or circumstances change) to make sure your choices are still appropriate. However, your pension account is a long-term investment and it is generally not a good idea to trade your investments too frequently.

h Remember to also look out for your annual benefit statement, for an overview of your Plan savings and investment choices.

Learn Act Review

Watch the films on MyPensionToolsWe have developed films that focus on the key steps you need to consider for your retirement savings.

InvestmentsYour investment decisions will have a direct effect on the value of the savings you build up. This film gives an overview of the Plan’s investments and what you should consider when making your choices.

You can also monitor investment performance

on your smartphone with our MyPension App. See the

for full access details.

3

J.P. Morgan UK Pension Plan Your future. Your choice.

Generally, these are made up of shares in companies traded on stock markets in the UK or overseas. The value of a share changes, largely depending on the performance of the issuing company and market conditions.

Equities are:

h affected by rises and falls in their respective markets; historically they have produced higher long-term returns when compared with bond or liquidity funds, but they can fall in value as well as rise in value, sometimes quite sharply.

h often considered to be good for growth, and are normally considered suitable for members who are a long way from retirement.

Bond funds are generally made up of debt securities issued by the government (known as gilts if issued in the UK) or companies (corporate bonds) where the government or company borrows an amount of money for a given period.

Bonds are:

h expected to deliver lower and less volatile returns than equities, although bond funds still rise and fall in value over their lifetime.

h often considered to be good for a more defensive investment.

h generally suitable for those nearer to retirement and who wish to preserve their pension buying power. The price of purchasing an income in retirement (annuity) is linked in part to the price of bonds.

How bonds work

What types of investments are available?Before you decide how to invest your pension account, make sure you’re aware of all the different types of investments available in the Plan, how investment funds are managed, and the potential risk and return.

The Plan’s investment options include one or more of the following:

h Equities (or shares)

h Bonds

h Property

h Liquidities

h Balanced funds (a combination of all these options)

h Diversified Growth Funds

These are known as asset classes and they vary in terms of what they invest in, how risky those investments are and how much they’re likely to increase in value over time.

Equities (shares) Bonds

Learn

Initial investment: if you buy a bond you are loaning money to the company/government

The company/ government pays interest on the loan (known as its coupon)

At the end of the loan period the company/government returns the amount you originally lent

4


What types of investments are available?

Learn

Balanced fundsLiquidity funds Diversified Growth Funds

Liquidity funds will typically hold cash investments and similar assets with highly rated financial institutions.

Liquidities are:

h expected to provide lower returns over the long term compared to equities or bonds.

h lower risk in terms of loss of capital compared to other asset classes.

h designed to achieve a competitive cash return over time, in comparison with placing funds on deposit with a bank or building society.

h typically considered less suitable for members who are a long way from retirement as inflation can erode purchasing power over time.

Balanced funds are generally invested in a mixture of UK and overseas equities and other assets including bonds, cash and property. Depending on the mix of growth assets (equities) and more defensive assets (government and corporate bonds) each fund will have different characteristics. Typically, balanced funds have a high proportion invested in equities, for example around 70% of the fund.

More information on the mix of assets in the balanced funds on offer can be found in the fund factsheets which are available on MyPension.

Balanced funds are:

h affected by the rise and fall in equity values but, because they also contain other assets, are likely to be less volatile than pure equity funds.

h expected to provide higher returns over the long term than bond and liquidity funds, but lower than pure equity funds.

h normally considered suitable for members who are a long way from retirement.

Diversified Growth Funds (DGFs) are similar investments to balanced funds, in that they invest in a mixture of different assets, generally including equities, bonds, liquidity funds and property, and other alternative assets. DGFs typically invest in a wider range of assets than balanced funds and have a lower allocation to equities, typically 50% or less.

DGFs:

h can invest in a broad range of asset classes in addition to those mentioned above, including: commodities, private equity, high yield bonds, and non-traditional assets such as derivatives.

h usually aim to provide a return slightly below that of equities but higher than bonds, and with less volatility than equities.

Property

These are investments in commercial properties such as retail outlets, office blocks and industrial buildings. Property funds may also invest in other types of property such as student accommodation, agricultural or other property funds.

Property funds are:

h aimed at providing returns from rental income and any increase in property values.

h normally expected to give lower returns than equities, but higher returns than bonds. The level of risk is likely to lie between those of equities and bonds.

h normally suitable for members who are a long way from retirement.

h less liquid than equities. The transaction costs for buying and selling these funds are typically much higher than for other investments (see ).

5


The Trustee selects different investment managers who manage different funds. There are generally 2 investment approaches that investment managers follow:

How the funds are managed

What is an ‘index’?An index is a way to measure the movement in value of a particular group of investments. For example, the Financial Times Stock Exchange (FTSE) All-Share Index is made up of all the shares quoted on the UK stock exchange. The FTSE100 is made up of the 100 largest companies, in terms of the value of their shares, listed on the UK stock exchange.

Active versus Passive

PassiveAlso known as ‘index-tracking’. Passive management is where the investment manager chooses a market index, such as the FTSE All-Share Index, and invests the fund in broadly the same investments that make up that index. The fund then aims to follow (or ‘track’) the performance of that index. These funds are sometimes called ‘index funds’.

Passive investments aim to follow the market index whether it goes up or down. Passive management removes much of the potential for out-performance or under-performance versus the index, but not the risk of negative returns. Charges for passive management tend to be lower than for active management.

ActiveActive management is where the investment manager uses their expertise to try to choose investments that will beat the returns of a particular index, a benchmark, other investment managers, or a combination of these.

If successful, active management can generate valuable extra return versus the stated benchmark. However, if the manager’s decisions prove unsuccessful, they can under-perform relative to the benchmark. Charges for active management tend to be higher than for passive management.

Learn 6


Between asset classes there are different levels of risk and potential return. So, for example, an equity fund has a very different risk and return profile to a liquidity fund. Even within the asset classes themselves, the funds will vary, depending on whether they are passively or actively managed, and the specific underlying investments. So, for example, an overseas equities fund might be more risky (but offer higher potential returns) than a UK equities fund.

Liquidities

Diversified Growth Funds

Property

UK/Corporate bonds

Gilts

Balanced funds

UK equities

Overseas equities

Regional equities

Po

tent

ial l

ong

-ter

m in

vest

men

t re

turn

Risk

Risk/return

Types of riskEach type of investment has the potential to deliver certain levels of return but also has certain risks. These risks vary, depending on the asset class, and how close to retirement you are. What you consider to be a suitable investment when you are young, may become less suitable as you get closer to retirement. Some examples of risk include:

h Market risk: this is the risk that the value of your investments will fall. It’s what most of us think of when we think of ‘risk’.

h Volatility risk: the variability of returns relative to their expected return, which means it relates to how often and how sharply the market price of an investment changes.

h Inflation risk: if your investment returns are lower than inflation, then the purchasing power of your pension account goes down.

h Benefit matching risk: this is the risk that your investments are not aligned with your preferred method of funding your retirement, and may therefore result in a lower income in retirement.

There are several other types of risk, including asset class and fund-specific risks. Make sure you read all about risk in , to help you make an appropriate investment decision for your circumstances.

Learn

An introduction to risk

In general, it is a good principle of investment to spread your risks across more than one fund and across different types of asset class; this is called ‘diversification’.

7


https://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdf

The Plan offers 2 ways for you to invest your pension account:

or

If you don’t make your own investment choice, your pension account will be invested in the Default Strategy: Annuity (5 year) with a Target Retirement Age of 60.

Deciding which investment option is right for you

Act


Prepared with you in mind

My Default Strategy for the J.P. Morgan UK Pension Plan

My Default Strategy guide explains more about investing in the Default Strategy.

guide provides detailed information about the performance and objectives of each of the funds available in the Plan.

My Default StrategyMy Fund Range

8


https://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdfhttps://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdf


Act

The Plan offers a wide range of funds invested in all types of assets classes such as equity (including an ethical fund), property, bond, diversified growth and balanced funds.

You decide which funds to invest in and it’s up to you if and when you want to switch between funds throughout your career (see ).

Choose your own Freestyle funds1

Select your chosen fundChoose from the full range available – use the guide to help you make your choice.

Do you want any of your funds to automatically switch into lower-risk investments as you get closer to retiring?

Choose from any of the funds in the range, but make sure you select the LIFESTYLE version for the ones you want to switch. Any of your Lifestyle funds will then automatically start to switch into lower-risk investments,

as you get closer to retiring. This is designed to protect your annuity purchasing power at retirement.

Choose from any of the funds in the range and double check you

have selected the NON-LIFESTYLE

version of each fund. No fund changes will happen unless you

say so, so make sure you review regularly;

particularly as you get closer to retiring.

NOYES

Decide when... For your Lifestyle funds, you need to decide:

AND

* Please note: in future, early retirement dates will increase in line with State Pension Age.

Your switching period. You can choose the period over which your

investments start to gradually switch into lower-risk funds in the 9 months leading up to your chosen phasing period: either 10, 5 or 3

years from your Target Retirement Age.

2Your Target Retirement Age. This is the age

at which you aim to take your savings from your pension account and can be any age between 55* and 75. This age is also used to determine when

your investments in any Lifestyle funds begin switching into lower-risk investments, such as bond and/or liquidity funds in the lead up to retirement.

1

9


https://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdf


Act

Through this option your investment funds are automatically selected throughout your career.

Note: the Default Strategy is designed to suit a typical member but it may not be right for you.

The Default Strategy aims to maximise growth in your retirement savings by automatically investing in equities while you are younger. Then, as you get closer to retirement, your pension account will automatically start to switch into lower-risk investments. This is also designed to protect your annuity purchasing power at retirement.

Choose the Default Strategy2

If you make no other choices: The Default Strategy will follow the

pre-set route mentioned above. You’ll move into the Retirement phase 5 years before your Target Retirement

Age (which is age 60, unless you choose otherwise) and will gradually switch

into a mix of bond and liquidity funds in preparation for taking the maximum

tax-free cash and buying an annuity with the rest.

1 2 3

You do not choose your fundsInstead your savings will follow a pre-determined route through 3 phases:

The Initial Growth phase The Mid Growth phase The Retirement Phase

If you want to make a choice...

ORDrawdown Target

This targets investments that may be considered more suitable if you intend to take your savings through income drawdown when you retire.

Drawdown and Cash Target This targets investments that may be considered more savings if you intend to take your

savings through income drawdown and take tax-free cash when you retire.

You can select Alternative Endpoints: If you’re not planning to take an annuity, you can decide in advance between 2 other options for how your investment funds will be selected when you reach the Retirement phase. These options are aligned to other ways in which you might want to access your savings.

AND

Your switching period If you are invested in the Retirement Portfolio, you can choose the period over which

your investments start to gradually switch into lower-risk funds leading up to your Target Retirement Age: either 5 or 3 years.

Your Target Retirement Age This can be any age between 55* and 75 and will be used to determine when you move into the Retirement phase. If you do not select a Target Retirement Age,

this will be age 60.

You can select...

* Please note: in future, early retirement dates will increase in line with State Pension Age.

10


What to consider when choosing where to investRemember that pension

investments are long term. Over time, and when your

circumstances change, make sure you regularly check that

your investment choices remain appropriate.

Choosing your investments isn’t a one-off decision. It is a good idea to review your investment decisions regularly, or if your plans change, to make sure your choices still meet your needs now and when you retire. Your choice of funds will depend on your personal circumstances and your financial situation such as what other savings and sources of income you have. There are 3 things you should consider:

Are you a cautious investor or are you comfortable taking some risk? When considering your answer to this question you should take into account all the various types of risk that can influence investments. We have outlined the key risks on , but you can also look at the guide, , for more specific information about risk for the funds available in the fund range. You may also want to consider other factors, such as your additional savings and any other sources of income you will have in your retirement, when deciding the level of risk you want to take.

If you are a long way from retirement, or if you plan to keep your savings invested during your retirement, you have more capacity for market risk (see ). For example, if your investments fall in the short term you still have plenty of time for their value to recover and you will be purchasing more units and benefiting from additional compound returns. If you plan on purchasing an annuity, or taking your savings as cash and are nearing retirement, then your capacity for risk is normally lower, as your investments may not recover in time for your retirement.

If your retirement is close at hand, you may want to reduce some of the risk by transferring to more defensive investments in order to help protect the value of your pension and tax-free cash sum.

Your attitude to risk1

How close you are to retirement2

Act

If you are unsure of what investment decisions to make, you should seek impartial financial advice.

Sources of impartial financial advice can be found at on the

website.

In addition, if you are approaching your Target Retirement Age, or if you have told the Plan administrator that you are looking at early retirement, you’ll be invited to book a free Retirement Guidance Service session during which you’ll be able to ask any questions you have about accessing your savings and the retirement options available to you. Your session will be paid for by the Company and provided by retirement specialists, Willis Towers Watson.

Need advice?

When you retire, you can use your pension account to buy your choice of retirement savings, subject to certain limits. These benefits could include a tax-free cash sum, a pension for life through an annuity for you and, if you choose, for your spouse, dependants or registered civil partner, in the event of your death before them. Or, you could choose to take your pension savings through income drawdown by transferring your pension account to an income drawdown arrangement. You can choose whichever company you like to provide your drawdown facility and the Company has negotiated competitive drawdown terms with 2 providers. You can find out more in guide.

Make sure that your investment choices match your plans. For example if you’re considering taking tax-free cash lump sum, you may wish to invest a certain amount of your pension account in liquidity funds as you approach retirement in order to reduce your risk to a fall in value (which you may not have time to recover from before you take your lump sum). Similarly, if you are considering income drawdown, you may need to keep your savings invested in funds designed to provide growth.

How you wish to use your savings when you come to retire

3

11


https://www.moneyadviceservice.org.uk/en/articles/choosing-a-financial-adviserhttps://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdfhttps://epa.towerswatson.com/doc/JMC/pdf/retirement_guide.pdfhttps://www.moneyadviceservice.org.uk/en/articles/choosing-a-financial-adviser

Switching funds If you decide to make a change to your investment selection, you can do so on MyPension.

During the course of each calendar year, you may make as many switches as you wish, free of any administrative charges. You will, however, incur transaction costs when switching between funds.

All fund switches will incur transaction costs when buying and selling the underlying assets in which the funds are invested. These transaction/dealing costs (such as broker’s commission and local taxes) can either be included implicitly in the pricing of a fund known as ‘single pricing’) or they can be taken into account as part of an explicit pricing mechanism (known as ‘single swinging pricing’).

h Single pricing is where these costs are implicitly included in the unit price of a fund. The price is calculated by taking the average of the buying and selling prices of each of the assets held in that fund (which is called their ‘mid-market price’).

h Single swinging pricing is where the price swings between the selling price and the purchase price for investments. The difference between the purchase and selling prices is mostly made up of the transaction costs of buying or selling the underlying securities. The first (the bid price) is always lower than the second (the offer price), and the difference between them is the bid/offer spread.

h Bid/offer spreads for equity funds are generally between 0.3% and 2.0% of the transaction value, whilst bond funds tend to have spreads of between 0.2% and 0.6%. Property funds usually have the largest spread, of around 5 to 7% for a “round trip” cost (a sale and purchase), due to the higher dealing costs associated with buying and selling properties (for example, stamp duty).

Although there are no administrative charges for switching, you will incur the normal transaction costs we describe here, so think carefully about whether you need to switch. You should also bear in mind that pensions are a long-term investment.

Excessive trading can have a potentially detrimental impact on the long-term value of your pension account.

h If you elect to switch your pension account from the Default Strategy into Freestyle funds, you will see the switch happen straight away.

h If you elect to switch your pension account from Freestyle funds into the Default Strategy, the switch will happen in the next ‘phasing run’ which is on or around day 5 of each month.

h If you elect to switch your pension account from one Default Strategy option to another, the switch will happen in the next ‘phasing run’ which is on or around day 5 of each month.

Active members: provided you elect to switch before day 26 of the month, your contributions for that month will go into your new chosen Default Strategy option.

Important

Timing of switches

Review

Please note that, if you are investing in the

Default Strategy, investment choices for your existing

pension account and future contributions cannot

be different.

12


Switching fundsDue to the way in which single swinging price funds operate, it is not possible to predict in advance whether the bid or offer price will be used for any given trade. On this basis if there is a net cash inflow (more investors buying than selling units on that particular day) to the fund on the transaction date, the dealing price is set equal to the higher offer price. However, if there is a net cash outflow (more investors selling than buying units), a price equal to the bid price (the lower price) is applied. Building the transaction costs into the unit price means that all investors buying or selling units on the same day in the fund are treated equitably.

It is important to note that all of the funds offered by the Plan are priced such that buyers and sellers receive the same price if you trade at the same time.

The costs described here, which are incurred due to switching assets between funds, are in addition to the annual management charges which apply to all of the funds in which members can invest. Members meet the annual management charges, which are priced into the funds. Details of the annual management charges applicable to all of the funds in which members can invest are shown in the fund factsheets. It’s worthwhile noting that the annual management charges on funds available within the Plan compare favourably with the same or equivalent funds available elsewhere. The guide,

provides more details. Please also note that the Company pays for all the Plan’s administration costs.

Transaction costs will tend to be higher for funds where the underlying assets have higher dealing costs, such as property.

The size of the costs incurred in a specific transaction will depend upon the asset class and on other buyers and sellers (including those who are not members of the Plan) who are trading on the same day. If more units of a fund are bought than sold on a given day, the price of a unit in the fund will be higher than if more units of a fund are sold than bought.

The chart opposite shows indicative transaction costs when either buying or selling units in the funds in the fund range.

Please note that the transaction costs for the funds may vary over time, and it is not possible to guarantee the actual transaction cost at a given date in the future. The costs under certain market conditions may be higher or lower than those shown in the chart.

US Equity

Europe (ex UK) Equity

Japanese Equity

Bonds (Index Linked Gilts)

Pre-Retirement Fund

Global Equity

Asia Pacific (ex Japan) Equity

Balanced

Emerging Markets Equity

Diversified Growth

UK Equity

Property

0 2 43 (%)1

Indicative transaction costs for a one-way transaction

Review

If you would like more information on single swinging pricing, or the transaction costs incurred when investing or disinvesting from funds, please contact the Plan’s administrator on 01737 227589 or by email:

13


https://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdfhttp://[email protected]

Review

Thinking about reviewing your investments?

* Please note that, if you are investing in the Default Strategy, investment choices for your existing pension account and future contributions cannot be different.

h Don’t forget to look at the investment of your existing pension account as well as the funds you have chosen for your future contributions.

h Remember that pension investments are long term.

If you react to a sudden fall in the value of your investments whilst far from retirement and switch funds, you may miss out on a subsequent recovery in their value.

Under the Plan, you have choices to make about:

h how your future contributions and your existing pension account are invested*; and

h your investment strategy.

h Do you want to choose your own funds through Freestyle (and do you want a Lifestyle overlay for any of these funds) or are you comfortable following a pre-set route (the Default Strategy)?

14


If you choose Freestyle If you choose the Default Strategy

Select your Default Strategy option and your Target Retirement Age for your selected contribution types. Decide if any of the Alternative

Endpoints might be right for you.

Choose your preferred Default Strategy option, ‘Continue’ and proceed to the ‘Summary’ page.

If you choose to invest your selected contribution types into Freestyle funds, you will be able to choose where your past assets are invested and where your future contributions will be invested. These choices can be different if preferred.

When investing in Freestyle funds you will need to monitor and maintain your choices on an ongoing basis.

…if you’re currently investing in the Default Strategy, you’ll be able to move your selected contribution types to your choice of Freestyle funds. You will need

to monitor and maintain your choices on an ongoing basis.

…if you’re already investing in Freestyle, you’ll be able to choose where your current assets are invested and/or where your future contributions will be invested.

Choose your funds, ‘Continue’ and proceed to the ‘Summary’ page.

Which type of retirement savings (known as contribution types) do you want to change?

Review

Please note: If you choose to invest one or all of your contribution types in the Default Strategy, please note that your investment choices for existing assets and future contributions must be the same. In Freestyle, you can choose to invest current assets and future contributions differently.

Changing your investment choices on MyPension The diagram below outlines the steps you can follow to change your investment choices on MyPension. Turn to for details of how to login to your MyPension account.

Which investment strategy do you want?

Confirm your choice

1

2

3

You can change your investment choices for all your contributions or edit individual contribution types.

Select which you want to change, click ‘Change my Investment Strategy’ and proceed to the ‘Investment strategy’ page.

You can choose Freestyle or the Default Strategy. The icon gives a summary of these options. Make your selection, click ‘Continue’ and proceed to the ‘Decisions’ page.

On the ‘Summary’ page, review your new selection(s) and ‘Authorise’ to confirm your choice.

To get started, on MyPension choose the ‘My Investments’ tab

on the home page, then ‘Change My Investments’

and consider the options opposite.

15


gives an overview of the Plan to help you make the most of your membership. It’s particularly useful if you’re a new joiner, as it summarises:

h how the Plan works;

h what to expect when you first join;

h information about how Company and employee contributions work; and

h details of the benefits provided to you and your dependants by the Plan.

, updated quarterly, looks in detail at the performance and objectives of each of the funds available in the Plan, plus it includes:

h information around risk;

h guidance on how to make your investment choices on MyPension; and

h contact details of the fund managers responsible for each of the funds available in the Plan.

My Default Strategy guide explains how the Default Strategy works. It outlines:

h the options you have within this strategy

h an explanation of blended funds

h how the Default Strategy options align with different retirement plans.

gives full details about all aspects about the Plan including:

h how the Plan works;

h the types of contributions you can make to your pension account;

h what happens when you retire, including all the options available to you;

h what happens if you die while in service, or after you retire; and the State Pension benefits.

My Quick Guide

My Fund Range My Default Strategy

My Handbook

Useful resourcesThe Plan provides relevant documents and tools to help you make the most of your savings and plan for your retirement:

Performance history – quarter by quarter

Fund summaryFund Name Benchmark Target out-performance

(net of fees)Management Fees

Settlement Period

L&G DiversifiedFund

Bank of England Base Rate. n/a AMC: 0.13% p.a.TER: 0.13% p.a.

Trading day +2

AMC = Annual Management Charge TER = Total Expense Ratio

Fund performancePerformance

5 Years to 31.12.2014 Performance

3 Years to 31.12.2014Performance

1 Year to 31.12.2014Performance

Quarter 4 to 31.12.2014 Target ReturnsFund Benchmark Fund Benchmark Fund Benchmark Fund Benchmark

% p.a. % p.a. % p.a. % p.a. % % % % % p.a.

n/a n/a n/a n/a 10.1 10.8 3.3 4.1 n/a

Legal & General– Diversified Fund

Passive

Div

ersi

fied

Gro

wth

fun

d

J.P. Morgan UK Pension Plan | 1

Dec12

Mar13

Jun13

Sep13

Dec13

Mar14

Jun14

Sep14

Dec14

Jun12

Sep12

-24.0

-16.0

-8.0

0.0

8.0

16.0

24.0

-8.0

-12.0

-16.0

-4.0

0.0

4.0

8.0

12.0

16.0

L&G Diversified FundExcess Return in Multi-asset Diversified Growth from Jun 2012 to Dec 2014

LGIM DG vs. BoAML 3 month LIBOR (after fees)*

Qua

rter

ly E

xces

s R

etur

n (%

)

Excess R

eturn (%)

Falling Markets Rising Markets 1 Year Rolling Excess Return Upper Quartile Upper Quartile Median

* For comparative purposes, we have compared the performance of the Fund to the Bank of America Merrill Lynch LIBOR 3 month average due to the Fund’s absolute return target.

Log on to keep review your pension account by checking your fund value and investment choices. You can also use the new MyPlanner to model a whole range of scenarios for funding your future. The MyPension App is also available to download on your smartphone.

MyPension Fund Fundsheets

MyPensionTools Films

Visit to access the Contributions Calculator, a simple tool to help you to work out the net cost of increasing your contributions. With savings in tax and National Insurance, it might cost you much less than you think.

In addition to ,

which summarises the performance of all funds available in the Plan over the courses of the quarter, you can also access a more detailed 2-page fund factsheet on each of the individual funds on My Pension. These are updated annually.

Our 3 short films, available on MyPensionTools, will help you understand why it’s important to consider your retirement savings as early as you can, no matter what your age. They are designed around 3 simple steps: Know how much you’ll need, Contribute as much as you can, and Make your money work harder.

You can find all of these guides in the Plan library on MyPension and on MyPensionTools.


Prepared with you in mind

My Default Strategy for the J.P. Morgan UK Pension Plan

Library Tools

Please note: historic versions of some of these documents have listed funds’ ISIN and SEDOL codes (where available) to allow members to monitor funds themselves. Following the move to the LGIM investment platform in September 2017, fund codes will no longer be available for the platform version of the Plan’s funds. However, since the platform funds are invested in the non-platform equivalents, the codes for the non-platform versions of these funds will still be made available to provide indicative information. Please note, there may be differences between the reported performance of platform and non-platform versions of the funds going forward, due to differences in applicable fees, performance measurement and pricing methodology.

16


https://epa.towerswatson.com/doc/JMC/pdf/booklet.pdfhttps://epa.towerswatson.com/doc/JMC/pdf/booklet.pdfhttps://epa.towerswatson.com/doc/JMC/pdf/quickguide.pdfhttps://epa.towerswatson.com/doc/JMC/pdf/quickguide.pdfhttps://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdfhttps://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdfwww.mypensiontools.co.ukhttps://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdf

Current employees From work: me@jpmc

From home: via My Rewards at

If you have trouble logging in to My Rewards, access myTecHUB at from any device with an Internet connection

to reset your Single Sign-On (SSO) password.

If you’re not able to get all the information you need from the MyPension website, you should contact Willis Towers Watson, the Plan’s administrator.

By post: J.P. Morgan UK Pension Plan, Willis Towers Watson, PO Box 545, Redhill, Surrey RH1 1YX

Phone: Dedicated helpline: 01737 227589 (Monday to Friday, 9am to 5pm)

Fax: 01737 241496

Email:

Please note that when you contact the Plan’s administrator, you will be asked a number of security questions to validate your identity. One of these checks will be to confirm your National Insurance number, so please try to have this at hand when you call the helpline.

More information about investments and the fund range can be found in the My Default Strategy and guides held on MyPension and

You can also download a detailed 2 page factsheet for each fund on MyPension

More informationRememberAll employees can also access the all new MyPension on their smartphone, using the MyPension App. If you need more help with the website, or with accessing the App, please contact the Plan’s administrator, using the details opposite.

Former employeesYou can access MyPension by contacting AccessHR on 0207 134 0606 for a password and then visiting:

By using your User ID and password (which was originally sent separately to your home address when you left J.P. Morgan) at:

Here to help

Contact the Plan’s administrator

Accessing MyPension

Don’t delay. It’s your future. Make it your choice. August 2017

17

https://smportal.bankone.com/siteminderagent/SSOMFALogin.fcc?TYPE=33554433&REALMOID=06-00044ce5-cfe4-1584-9738-4689a94540a7&GUID=&SMAUTHREASON=0&METHOD=GET&SMAGENTNAME=$SM$PHRTBsau4qXsDxAfj0whJfHUfIosBYcutXyWGuixGzk%2fGdJmr%2bCNglm83oN%2b8ws6&TARGET=$SM$HTTPS%3a%2f%2fsaml%2ebankone%2ecom%2fmfa%2fhr%2fpublic%2fsaml2sso%3fSPID%3depa_saml2https://epa.towerswatson.com/doc/JMC/pdf/fund_range.pdfhttp://https://myrewards.jpmorganchase.comhttp://mytechub.jpmorganchase.comhttp://http://https://epa.towerswatson.com/doc/JMC/login.htmmailto:[email protected]://www.mypensiontools.co.uk

page 10Page 4Page 6Page 7Page 8Page 11Page 12Page 14Page 15Page 16Page 17Page 13

Button 2: Button 11: Button 13: Button 15: Button 17: Button 18: Button 19: Button 20: Button 21: Button 22: Button 23: Button 50: Button 25: Button 3: Page 2: Page 61: Page 82: Page 93: Page 104: Page 115: Page 126: Page 137: Page 148: Page 159: Page 1610: Page 1711:

Button 206: Page 2: Page 61: Page 82: Page 93: Page 104: Page 115: Page 126: Page 137: Page 148: Page 159: Page 1610: Page 1711:

Button 207: Page 2: Page 61: Page 82: Page 93: Page 104: Page 115: Page 126: Page 137: Page 148: Page 159: Page 1610:

Button 26: Button 6: Button 208: Button 209: Button 7: Button 2010: Button 2011: Button 27: Button 8: Button 2012: Button 2013: Button 28: Button 9: Button 2014: Button 2015: : Button 5: Button 31: Button 29: Button 32: Button 33: Button 35: Button 34: Button 36: Button 51: Button 37: Button 38: Button 52: Button 39: Button 45: Button 41: Button 43: Button 42: Button 46: Button 40: Button 49: Button 44: Button 53: Button 54: Button 57: Button 48: Button 58: Button 55: Button 56:

tending to your future - mypension tools › assets › uploads › my... · tending to your future...

Documents