Assumptions

The information provided within this modeller should not be considered as a Statutory Money Purchase Illustration and the results of the modeller are only estimates. The modeller will provide estimates based on agreed factors used to determine your fund value. The fund value will be determined using estimated investment returns, estimated salary increases and estimated contribution rates.

Due to the high level of uncertainty in respect of the above factors used to determine your fund value, a prudent approach has been adopted in establishing the assumed average increases year-on-year.

You should consider that the value of your future pension funds will be dependent on how you choose to invest your contributions, how much you and your employer contribute to the Plan, future salary increases, Plan changes, legislative changes and Annual Management Charges.

As you may be aware a new allowance was introduced by the Government as a means to prevent members from recycling their pension savings under the new flexibilities introduced in April 2015.

If you have flexibly accessed any Defined Contribution pension arrangements that you may hold, i.e. received more than 25% tax-free cash, you may have a reduced Annual Allowance known as the Money Purchase Annual Allowance. The Money Purchase Annual Allowance restricts the amount you can contribute into a Defined Contribution arrangement such as the one you are a member of with Perenco. The Money Purchase Annual Allowance will apply to the total contributions both you and your employer pay into the Plan in the tax year. Should you exceed the Money Purchase Annual Allowance of £4,000, you will incur a tax charge on the contributions above the Money Purchase Annual Allowance.

Please note that you are not allowed to use unused Money Purchase Annual Allowance from any of your three previous tax years. Therefore if the £4,000 Money Purchase Annual Allowance is exceeded you will automatically face a tax charge.

As we will not have the relevant information available to us to determine whether you have been effected by the Money Purchase Annual Allowance, you will be required to either contact Capita the administrator of the Scheme to determine whether you have exceeded the Annual Allowance available to you or you should seek independent financial advice.

The results of this modeller are intended to give you an estimate of your pension input amount for the current and following tax year and an indication of how close you are to the Annual Allowance.

In no circumstances should the results of this modeller be used as a promise or guarantee of the pension benefits that you will accrue within the Scheme or of the Annual Allowance you will have available. In particular, if any assumptions made are not borne out in practice, then the results of the modeller would need to be adjusted accordingly.

This modeller does not constitute financial advice. Any decision that you make regarding your pension should be your own choice. If you need further guidance or advice we strongly recommend that you speak to an Independent Financial Adviser, a list of which can be found at www.unbiased.co.uk.

Please note that this Pension Modeller is operated by Capita, and Perenco has not validated any results provided from this. Although Perenco has no reason to doubt that the programme is valid, no liability is accepted by Perenco for any errors or omissions generated from the modeller. 
Close