Child Trust Fund Lifestyling

Definitions

Fund Switch - The cancellation of units in one fund and their allocation instead to an alternative Fund or Funds. The Unit Account Value on the effective day of the Fund Switch will be the same before and after the Fund Switch.

Maturity Date - This refers to the child’s 18th birthday.

Plan - This means the Child Trust Fund - Stakeholder Options which is evidenced by the document, with that heading attached and the Schedule.

Registered Contact - This is the person who can give instructions for the management of the account.

Schedule - This means the document with that heading attached.

You - This means the Registered Contact. Your has a corresponding meaning.

Applicability

These conditions apply to Child Trust Fund - Stakeholder Options Plans, which have commenced Lifestyling under these conditions and not ceased at your request.

The conditions apply to the Child Trust Fund Extra Plans which have requested for Lifestyling to commence under the conditions.

Conditions

On each of the dates shown in Column A of Table 1 below, we will

A) Fund Switch the proportion shown in Column B of the Plan’s holdings in any fund(s) other than the Foresters Stakeholder (Schroders) Managed 1 Fund to the Foresters Stakeholder (Schroders) Managed 1 Fund.

If the date shown in Column A is not a business day, then the Fund Switch will be carried out using the prices calculated on the next business day; and,

B) Determine the proportions of contributions directed to each fund as shown in Column B of Table 2 on the later of the dates shown in Column A of Table 2.

These proportions of contributions, except for the Foresters Stakeholder (Schroders) Managed 1 Fund, will then be reduced by the relevant percentage shown in Column B of Table 1.

For the avoidance of doubt, the reduction is multiplicative – for example, if the proportion of contribution allocated to a fund is 80% and the relevant percentage shown in Column B of Table 1 is 33%, then the proportion of contributions will be reduced by 26.4% (that is, 33% of 80%) to 53.6%. We may round the resulting percentages of contribution.

The proportion of contributions allocated to the Foresters Stakeholder (Schroders) Managed 1 Fund will then be 100% less the resulting percentages for all other funds.

These amended proportions will then apply to all contributions received after the date shown in Column A of Table 1, unless subsequently amended by these conditions or by an instruction received from you.

Table 1

Table 2