My Pension for UBS

1. True or false: The default pension contribution provided by UBS to active members through ValueFlex will definitely be enough to fund a comfortable retirement.

a) True

b) False

Answer

B False. For active members, the Basic Contribution equivalent to 10% of your Reference Salary (subject to any relevant cap or floor) that comes out of your ValueFlex Fund is UBS's employer contribution to your pension.You are strongly encouraged to consider what your income needs will be in retirement and what level of additional contribution you may need to make to aim to achieve your goal. Check Pension Bytes Module 1: Contributions for more information. For deferred members with a DC pension pot still in the UBS Scheme, you are strongly encouraged to consider what level of contributions you need to make to your other pension arrangements to aim to achieve your retirement goals.

2. The UBS Scheme investment options include:

a) Lifestyle options that switch my investments automatically as I approach retirement

b) 25 Freestyle funds that I can use to design my own portfolio

c) Both Lifestyle and Freestyle options

Answer

C Both. Read the DC Investment Guide to explore your investment options. We recently made changes to two of the Lifestyle strategies. Find out more in the Chair’s introductory message in your 2024 pension benefit statement, and Pension Bytes Module 2: your investment options.

3. According to the Pensions and Lifetime Savings Association (PLSA) Retirement Living Standards, the amount an individual needs per year to achieve a moderate living standard in retirement is:

a) £14,400

b) £31,300

c) £43,100

Answer

B £31,300. A ‘moderate’ lifestyle covers all your needs with more financial security and more flexibility than the ‘minimum’ cover (£14,400). You and a spouse would need £43,100 per year for a joint ‘moderate’ lifestyle, according to the PLSA Retirement Living Standards. Check Pension Bytes Module 4: Retirement in view for more information.

0 – 1 out of 3 Pension Novice

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2 out of 3 Pension Aware

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3 out of 3 Ultimate Pension Geek

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This quiz applies to members of the ValueFlex Defined Contribution Section of the UBS (UK) Pension & Life Assurance Scheme. The answers given are short overviews of the topics for information and guidance purposes only and should not be treated as advice.

The information should not be solely relied on to make investment or other decisions about your pension. It is recommended that you seek independent financial advice before making any important decisions about your retirement savings. For full details of the pension Scheme, please refer to the formal Scheme documentation such as the Scheme Guide, the DC Investment Guide, and the Scheme FAQs, all of which are available on the UBS Portal.