Welcome To The Bolt Driver Pension Plan

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Hello and welcome to this webcast recording provided by Aviva who provides your pension. You may pause or rewind this recording at any time.

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Aviva has been helping people plan for the future for a long time:
Our history dates back over 300 years
We currently manage billions of pounds worth of savings and investments for our customers and we are a leading provider of company pensions schemes in the UK.

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So, what are we going to be covering today and how can we help you. Please pause and take a moment to read the screen before moving on.

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Over 2023, Bolt undertook research with drivers to understand what they wanted from a platform.
While a majority of drivers said they wanted to remain self-employed, many suggested help planning for the future would be welcome.
Bolt has partnered with Aviva to offer drivers a pension scheme that works around you.

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A great way to save could be through the Bolt Driver Pension Plan. This is because it's tax-efficient; Bolt pays in, too; They’re your pension savings - so if you stop driving for Bolt, you can take them with you, And It’s flexible, meaning you can decide how much you would like to contribute, where the contributions are invested, and at what age you would like to take the benefits. You can access your savings from the 'minimum pension age' set by the government. This is currently 55 but is rising to 57 from 6 April 2028. You may be able to access it earlier such as when you have a protected pension age or can't work due to ill health or incapacity.

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Your pension contributions will be sent to Aviva and invested in either the default investment approach or your chosen investment funds. Charges will be deducted whilst your money is invested. When you get to retirement you can then use the fund to provide yourself with an income, with various options available from the minimum pension age.

In a nutshell, you are able to take all or some of your fund as cash. The first 25% of any cash withdrawal would be tax free, the rest would be taxed as income, like a salary. Alternatively, you can take up to 25% of your fund as a tax-free payment and then either re-invest the rest into funds designed to provide you with a taxable income, known as flexi-access drawdown or purchase a lifetime annuity with the remainder, which can provide you with a regular taxable income for the rest of your life. You can also choose a combination of these options.

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Please pause and take a moment to read the information about the Bolt Driver Pension Plan contribution rates before moving on.

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Please pause and take a moment to read the example on the screen before moving on.

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Your plan has a 'normal retirement age', which is shown on the screen, but that doesn't mean you have to take your pension at that age. You can normally access your pension savings from the minimum pension age

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Your pension scheme offers a range of investments and you can choose where your money goes. Let's look at how investments work, and what investments are available in your scheme.

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The money you save into your pension is invested to help it grow but do remember that the value of investments can fall as well as rise and is not guaranteed - you could get back less than the amount invested.

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All types of investments work on a risk and reward basis. Generally speaking , the riskier an investment is, the greater its potential for providing higher returns. The downside is that the value is likely to go up and down more, so there is a greater chance of losing money especially over the short term. With lower risk investments there’s less chance of you losing money, but the returns they’re capable of achieving generally tend to be lower and could possibly struggle to keep pace with inflation. Towards the bottom of the risk and reward scale you would typically have Money Market investments, also known as Cash. They are not to be confused with deposit accounts with bank or building societies. Although less risky than other types of investments, there could be circumstances when these investments fall in value, for example if an organisation fails. The value of Money Market investments could also be eroded over time due to the effects of fund charges, product charges and inflation. At the other end of the scale you have Company Shares, also known as Equities. While there is more opportunity for potential gains with shares than with other investment types, there is also greater risk that they will fall in value. Generally each fund offered by Aviva invests in one or more of the investment types shown. There is more information about these investment types in your Investment booklet.

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If you haven’t made a choice your money will be invested in the default investment solution which is called My Future Lifetime Investment Programme. The default automatically manages your investments in the run-up to retirement and has been designed for the majority of members, however this may not suit your personal circumstances and retirement aims. More information on the funds used in the default, including their risks and charges, can be found in your investment booklet

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Here we see which funds are used in the default investment programme and how the proportion of each fund changes in the run up to your retirement. For those people who have more than 15 years to go to their chosen retirement age, the My Future investment programme invests in a medium risk fund called the Aviva pension My Future Growth fund, which is a mix of different investment types and aims to grow your pension fund although as with any investments, it can't guarantee to do so. At 15 years to your chosen retirement date, your money gradually moves into a low to medium risk fund, called the Aviva Pension My Future Consolidation Fund, which aims to help minimise fluctuations in the value of your pension pot and reduce your exposure to investment risk as you approach your retirement date.

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All of the funds that are available to you will have their own charge associated with them. The charge for the default investment solution - where savings are automatically invested unless you make your own choice - is shown on the screen. You'll also see the charge of the lowest-charged fund. These charges cover costs such as setting up the plan, fund management and plan administration. We've also shown you where you can find further information on charges. If you choose your own investment funds, please make sure you are aware of the charges associated with them.

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As a member you will have access to MyWorkplace, making it easier for you to plan and save for your future. In addition to giving you information about your pensions value and where your money is invested you will also have access to our tools and calculators.

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Before joining you should read all the information in your plan literature documents. Please pause and take a moment to read the next steps in the joining process.

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Thank you for listening we hope this presentation has been useful.