Welcome to the Zurich Pension Planner (the planner)

The Zurich Pension Planner is for UK residents only and is based on UK taxation

Saving for retirement is important and the Plan allows you to put money aside on a regular basis towards your future pension. This planner helps you work out how much pension income you might receive at your Selected Retirement Age (SRA). It can also help you calculate how much pension income you may need.

Whilst anyone can use this planner, whether they are in the Plan or not, the information it provides is not a recommendation to take action.

If you are not sure about making decisions about your pension options you should speak to an Independent Financial Adviser (IFA). You may have to pay for the work that an IFA carries out for you. You must not base your decision to join the Plan on this planner alone. You should also read the Plan Guide and Investment Guide.

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Zurich makes assumptions as a guide to possible outcomes

We have used the standard potential rates of return (5%, 7% and 9%) set by the Financial Services Authority (FSA) as appropriate assumptions for future long-term growth for funds with a high equity content.

Your actual pension income will also depend on:

• How your Member Account grows and Interest Rates at the time that you convert your Member Account into pension income.
• The type of pension you choose – single or joint life, level or escalating, with or without guarantees (Note: further information on your pension options are available from the Trustees in the Royal Mail Retiring soon guide).
• Inflation - over time, inflation will reduce the buying power of money. For example in 20 years time, £10,000 will buy only the same as £6,100 today, assuming inflation of 2.5% a year. In other words, although the income is still £10,000 it would only buy as much as £6,100 does today.

The planner takes no account of maximum pension or cash sum limits that are imposed by HM Revenue & Customs (HMRC).

The assumptions used by the planner to produce your pension forecasts are based on a combination of historical investment data and forecasts of future investment returns and are consistent with rules set down by the FSA. These assumptions will change over time and you should regularly revisit the planner to ensure you are aware of the current position.

If you choose a Selected Retirement Age that is on or after your State Pension Age, we assume that you qualify for full State Pension unless you input a more accurate figure. The planner takes into account the increasing State Pension Ages for men and women.

For further information about the assumptions used in the planner and issues that can affect the level of pension income you may receive, please click on ‘see warning’ on the ‘current forecast’ page in the planner. In addition you may want to read the ‘help notes’ that are on the top right hand corner of the Pension Planner welcome page.

The results shown are only examples

The results of the planner are examples only and aren’t guaranteed. The value of your Member Account depends on:

• How much you and your employer contribute to the Plan.
• The Investment Funds you choose and the investment return obtained on the contributions paid into your Member Account. The levels of Risk and potential investment performance differ depending on the investment options you choose and the period of time your Member Account is invested in these options.
• The rate at which your earnings grow.
• The charges that are charged against your Investment Funds.

Please note, the value of your Member Account can go up or down and is not guaranteed.

Tax treatment depends on your individual circumstances and may change in the future. For more information about the tax that may be payable please see our Guide to pension plan tax.

Privacy of personal data keyed in and stored on the planner

The planner is operated by Zurich Assurance Ltd (Zurich), which administers the Royal Mail DC Plan for the Trustees. The planner asks you to fill in personal information, and this information will be controlled by Zurich Assurance so please read Zurich Assurance's Privacy Policy statement when you proceed to the Pension Planner. The Privacy Policy tells you how this personal data is used. Any information you put into the planner will not be communicated to your employer or the Plan Trustees.