If you request a change to your investment holding, the Scheme Administrator will aim to calculate your switch request, and send a request to the Investment Manager for this to be actioned within 48 hours. In practice, the Scheme Administrator will usually do this the day of receipt, although sometimes in specific instances this may not possible (for example if you are currently having monthly contributions allocated or profile realignment switches actioned).

The Investment Manager will action the switch within approximately 2 working days - frequently within 24 hours. The Investment Manager will then confirm the completion to the Scheme Administrator within 2 days. Upon receipt of this confirmation the Scheme Administrator will amend your pension records to show your new investment position; this will also be reflected online at the Scheme website within 24 hours of this amendment, and you will receive confirmation of your switch by email shortly after.

Taking into account the administrative processes involved, a request to switch your unit holdings will usually take approximately one week to fully complete from the time you submit your switch request, to the date that you receive formal written confirmation of completion.

Please refer to the Investment Choices section for more information about:

• The investment options available to you as a member of the Scheme
• The different types of fund you are able to invest your Retirement Account in
• How you can manage your investments