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   PENSION PRODUCTS
     GENERAL
      CHARGING STRUCTURE

Collection of Charges

All charges, other than Fund Management Charges, are met by de-allocation of units. The only exception to this will be the cost of Waiver Benefit on Premier Stakeholder/Group Stakeholder and for new members of Personal Pensions from 6 April 2001.

In the case of MaxiPension (Series 2) and OmniPension (Series 2) the deallocation is of Type B units, with charges being carried forward in the form of negative units if there are insufficient Type B units. Under all other post 21 February 1994 contracts, any unsatisfied charges are carried forward as a cash amount.

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