Textual Amendments
1. A summary of—E+W+S
(a)the rate or amount specified in the rules of the scheme by reference to which collective money purchase benefits accrue each year under the scheme;
(b)the rate or amount of contributions paid by the employer;
(c)the rate or amount of contributions paid by the member;
(d)the normal pension age as specified in the rules of the scheme.
2. A statement that—E+W+S
(a)there is no promise or guarantee as to the rate or amount of benefits provided under the scheme, and
(b)the rate or amount of benefits may fluctuate, which may result in—
(i)reduced benefits before benefit becomes payable;
(ii)reduced benefits after benefit becomes payable.
3. A summary of the rules governing how the rate or amount of benefits provided under the scheme is to be adjusted from time to time, including—E+W+S
(a)that annual benefit calculations and any adjustments of the rate or amount of benefits are applied to all the members of the scheme without variation, and
(b)where relevant, an explanation of how any multi-annual reduction permitted under the scheme rules operates and the effect it may have on the rate or amount of benefits provided under the scheme.
4. An explanation of how the trustees of the scheme will monitor risks to the scheme including potential negative impacts on the rate or amount of benefits provided under the scheme.E+W+S
5. A summary of the procedure that would be followed in the event of the winding up of the scheme.]E+W+S