Legal notes

• Parts of this website summarise the provisions of the trust deed and rules of the Unilever UK Pension Fund. Rights under the Plan are solely conferred by the trust deed and rules of the Unilever UK Pension Fund. If there is any difference between the summary and the provisions of the trust deed and rules of the Unilever UK Pension Fund, the provisions of the trust deed and rules will prevail. A copy of the trust deed and rules is available on request from Unilever Peoplelink. Under the trust deed and rules Unilever may amend the provisions relating to the Investing plan. References in these notes to the trust deed and rules of the Unilever UK Pension Fund include any amendments to the trust deed and rules from time to time.
• The Unilever UK Pension Fund is managed by a trustee company, Unilever UK Pension Fund trustees Ltd. Throughout this website, the term "Trustees" means the Unilever UK Pension Fund trustees Limited acting by its board of directors.
• In terms of legal structure, the Trustees of the Unilever UK Pension Fund hold a unit-linked insurance policy issued by the first investment provider. The first investment provider is an insurance company.
• The first investment provider also maintains, on behalf of the Trustees, for each member who has joined the Investing plan, an Investing plan account.
• Contributions which are paid into your Investing plan account are paid on by the Trustees as premiums under the unit-linked insurance policy to the first investment provider.
• The first investment provider credits 'policy units' (see below) to the policy in respect of those premiums received from the Trustees (which policy units are, in turn, are allocated your Investing plan account).
• So every time the Trustees pay a premium to the first investment provider, the premium purchases policy units linked to the particular investment fund or funds into which the Trustees have instructed the first investment provider to pay the premium. Those instructions reflect the instructions you have given to the Trustees (or the first investment provider on behalf of the Trustees) as to how you wish your Investing plan account to be invested.
• The investment funds referred to in the section on 'Fund choices' are not unit trusts. They are, instead, separate internal sub-funds of the first investment provider.
• The economic interest of the Trustees in the investment fund, is calculated from the number of 'policy units' (linked to that investment fund) allocated to the policy.
• In contrast to a unit trust, the Trustees have no ownership interest in the assets of the investment fund (those assets are owned by the insurance company). Instead the rights of the Trustees are rights conferred by the policy (in other words they are contractual rights).
• If an insurance company becomes insolvent, the value of the policies issued by it will be reduced. If the issuer of any equities or bonds or the deposit taker of any deposit becomes insolvent, the value of those equities, bonds or deposits held in the insurance company's fund or sub-fund will be reduced (as will be the value of the associated policy units).
• Where the investment provider has subfunds which invest in reinsurance policies issued by one or more other insurance companies (as is in the case for all of the Investing plan funds), if that reinsurance company becomes insolvent, the value of the reinsurance contract between the investment provider and that reinsurer will be reduced. That reduction in value will, in turn, be reflected in the value of the subfund to which that reinsurance contract or any part of it is allocated and, in turn, the value of the policy units linked to that sub-fund will be reduced. Any description of any charges relating to switching the way in which amounts credited to your Investing plan account are invested or to any charges levied on your Investing plan account or on any investment fund in which any such amounts are invested is subject to change in accordance with the provisions of the trust deed and rules of the Unilever UK Pension Fund and the terms of the investment agreement or insurance contract or policy between the Trustees and the investment provider in question. No liability is accepted by the Trustees, Unilever or the Trustees' or Unilever's investment advisers for any error or omission in any information provided by or on behalf of any investment provider whether about its policy or investment products or otherwise and whether in this website, via any other website or otherwise.
• No liability is accepted by the Trustees or by Unilever for any delay in investing or disinvesting any amounts contributed or credited to your account, where such delay is caused by circumstances outside the control of, as the case may be, the Trustees or of Unilever.
• No liability is accepted for any loss arising from any delay or failure by the Trustees to achieve their target for giving effect any instructions for investing or disinvesting all or any part of your account. But, where the Trustees have failed to arrange for an investment or disinvestment instruction to be given effect to by the time provided for in the trust deed and rules (normally the end of the month after the month in which the instruction was received) no liability is accepted for any loss sustained by your account to the extent that the amount of the loss is less than £10 (or the equivalent amount as increased in line with the increase in the Retail Prices Index from time to time). For further information, please consult the trust deed and rules.
• This website summarises, in broad terms, certain provisions of the policy documents issued by the investment provider to the Trustees. This website confers no rights to benefits under the policy documentation. If there are differences between the summary of the policy documentation set out in this website and the terms of the policy documentation, the terms of the policy documentation will prevail over the summary. A copy of the policy documentation is available on request from Unilever Peoplelink.
• References to contributions to your Investing plan account include credits made at a time when the Unilever UK Pension Fund is in surplus and no Unilever contributions are required. Credits, in such a case, are financed out of surplus.