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Dear Member

This communication contains important information about your savings within the Plan’s investment arrangements.

Changes to investment arrangements

The Trustee regularly reviews the investment arrangements in the Plan to ensure they are up to date with the latest investment ideas and continue to be suitable for the members. Following the most recent review, the Trustee has decided to make a number of changes to the investment arrangements. Please find attached letter which provides you with a summary of these changes and explains how and when the changes will be made.

Investment market volatility – DC Member FAQ

Throughout 2022, we have seen some significant volatility in investment markets, resulting in large movements in both equity and bond markets as well as other types of investments. We recognise that this may be unsettling for members, particularly when you see it resulting in a fall in the value of your pension savings.

While the Trustee continues to monitor the situation closely, we are mindful of the typically long-term nature of investing for your retirement years. We also note the renowned difficulty of trying to make tactical investment decisions in the short-term (particularly when market volatility is at heightened levels).

We will periodically review the range of investment options made available to you as a member to ensure they continue to be in line with best practice design. We would also encourage you to regularly review your investment choices (particularly as you get closer to your preferred retirement date) to ensure they remain appropriate for how and when you intend to access your pension savings.