Annual interest rates after tax and expenses.
Annual returns after expenses and taxed at a PIR of 17.5%. Returns in brackets are negative.
Tax rates changed on 1 April 2008 and again on 1 April 2010.
We introduced the Long Term Fund at the beginning of the 2015 Plan year. At the same time, we renamed the existing Cash fund (now the Short Term Fund) and Balanced fund (now the Medium Term Fund).
Interest is applied to your account balances on a daily basis throughout the year. The actual interest rates applied to your account balances may vary from those shown above.
The annual rate, which is declared as at 31 March each year, is determined by us taking into account (amongst other things) the investment earnings and expenses of the relevant investment option(s) you have chosen and the expenses incurred by the Plan generally.
If you leave the Plan, we will calculate your benefit using an interim interest rate to cover the period between the end of the previous Plan year and the date your benefit is payable. Interim interest rates are an estimate of the investment return for the appropriate investment option less estimated tax and expenses.