It's important that you read this page. It contains important information.

This page together with the documents referred to on it (the “Terms of Service”) contain the terms and conditions by which you may use the Retirement Needs Calculator (the “Tool”) (as described below).

You’ll be able to access the Tool at the bottom of this page. By accessing and using the Tool, you’ll be deemed to have agreed to the Terms of Service. If you don’t agree to the Terms of Service, you’re not permitted to use the Tool.

We may revise these Terms of Service at any time, without notice to you. We will make the revised Terms of Service available on our website. Your continued use of, or your accessing, the Tool implies your acceptance of the updated Terms of Service. If you don’t agree to the updated Terms of Service, you must not use the Tool.

The Tool is made available to you by Scottish Equitable plc ("we"). We are registered in Scotland under company number SC144517 and have our registered office at Edinburgh Park, Edinburgh, EH12 9SE. Scottish Equitable is a wholly owned subsidiary of Aegon UK plc. We are part of the Aegon group.

1. Information – not advice

The Tool isn’t in any way an offer to sell our products. The Tool is intended only to assist you in assessing the cost of your financial outgoings in retirement and to gain an indication of the retirement income you may need. Any projections or output is indicative only and should not be relied upon. The Tool is subject to change without notice.

The actions you take and the amount you need to invest in order to achieve the retirement income you’re aiming for and have enough to cover financial outgoings depends on a number of different factors, including for example:

·       How your investment grows

·       The value of the other investments you may have

·       Inflation

·       Charges

·       The age at which you start taking benefits

·       Annuity rates when you purchase a pension

You could get back more or less than any amount shown.

We don't offer any financial or investment advice. The Tool should not be regarded as offering personal financial advice. The Tool isn't designed for forming any final financial decsions.

We advise you to take independent financial advice. There may be a charge for this. Any financial advice required should be provided by a person or company authorised to provide such advice under the Financial Services and Markets Act 2000.

2. Using the Tool

You’re required to input certain information about financial circumstances into the Tool. It’s your responsibility to ensure that all information inputted is complete and correct. 

To the extent allowed by law, we accept no liability for any projections or output given by the Tool. We accept no liability for any loss or damage incurred in connection with the use of the Tool - whether or not the information inputted into the tool is complete and accurate.

The information in the Tool is based on our understanding of current legislation, taxation law and practice, which may change.

3. Leaving the Tool

After you've finished using the Tool, we are not responsible in any way for any other pages, websites or documents that you access after leaving the Tool. We don't accept any liability for your use of any third party website and/or resources. In particular, you may be going to a website whose originator isn't authorised and regulated by the Financial Conduct Authority.

We are not responsible for the security of content of any third party websites which may be linked to or from the Tool. Any link isn't intended to be and should not be construed as an endorsement of Aegon.

4. Intellectual Property

Copyright on the Tool, any trademarks, and all other intellectual property rights in connection with the Tool are owned by Scottish Equitable plc, other Aegon group companies, or their respective third party licensors. All rights are reserved.

We grant you a revocable, non-exclusive, personal, non-transferable right to use the Tool in accordance with these Terms of Service only.

You agree that you’ll not use any of the foregoing intellectual property rights for any purpose whatsoever, except for the use of the Tool as permitted under these Terms of Service.

5. United Kingdom residents

The Tool is intended for the information and use of United Kingdom residents only. Users must be aged 18 or over. We'll provide information on the Tool only in English. By using the Tool you confirm that you’re a United Kingdom resident aged 18 or over.

6. Downloading information

Please note that any downloading of software or information is done at your own risk. We don’t warrant the suitability of anything downloaded and accept no liability for any problems that arise as a result. If you're in any doubt about downloading anything, we recommend that you take specialist advice before downloading.

7. Tool availability

We don’t guarantee that the Tool will be available at all times or that it will be error free. Further, we reserve the right to amend or withdraw the Tool at any time without notice. Neither Scottish Equitable plc or any other Aegon group company shall be liable in any way if the Tool is unavailable, amended or withdrawn at any time and/or for any period.

We reserve the right to suspend, deny, terminate or remove your access to the Tool where we reasonably believe that you’ve breached these Terms of Service, or that there is, or has been, fraudulent activity or a security breach, whether or not caused by you.

8. Terms of acceptable use

We make the Tool available for you to use subject to these Terms of Service. Your use of the Tool and/or any website, email and/or web-chat in connection with the Tool is subject to you not including and/or uploading any comment or material in an email or webchat that is, or could be construed as being:

·       Obscene

·       Threatening or menacing

·       Harassing

·       False, misleading or inaccurate

·       Libellous or defamatory of any person

·       Deceptive or fraudulent

·       Invasive of another's privacy

·       Offensive

·       Illegal

You also agree that you shall not:

·       Do anything (whether on purpose or not) which may cause the introduction or spread of a computer virus, Trojan horse, logic bomb, spyware or any other program designed to affect the operation of any computer(s) software or hardware

·       Attempt to gain unauthorised access to the Tool, the server on which the Tool is stored, or any server, computer or database connected with the Tool

·       Attack the Tool via a denial-of-service attack or a distributed denial-of-service attack

·       Act dishonestly or unprofessionally

·       Create a false identity on the Tool

·       Sell, rent, lease, re-distribute, broadcast, publicly display, transmit, communicate, modify, sub-license, transfer or assign any part of the Tool, or your rights to the Tool (under these Terms of Service) to any third party

·       Infringe the rights of us or of any other user of the Tool

·       Use the Tool unlawfully or fraudulently at any time

·       You agree that you shall not link to the Tool: 

• In a way that damages Aegon’s reputation or takes advantage of it
• In a way that suggests any form of association, approval or endorsement on our part where none exists
• Where the website does not belong to you 
• Where we have withdrawn permission to link to the Tool

(together, the ‘Fair Use Terms’).

We reserve the right, at our sole discretion, to suspend, terminate or remove your access to the Tool or any related website and to remove any comment or material that, acting reasonably, we reasonably consider, or we reasonably believe that another person may consider, contains such comment or material.

9. Important Information

9.1.  Neither Scottish Equitable plc or any other Aegon group company will be liable in any way for any errors and/or omissions concerning the design of, what is on, included in or is omitted from, the Tool.

9.2. Neither Scottish Equitable plc nor any other Aegon group company will be liable in any way for the results of any unauthorised access to the Tool or any unauthorised alteration to the Tool. 

9.3. The terms of, and use of, the Tool shall be governed by the law of that part of the United Kingdom in which you reside.

9.4. The website pages that result from your use of the Tool may not, in whole or in part, be reproduced, copied, stored, transmitted, or used by any party except for the purpose of downloading for private viewing purposes or where we've given our prior consent. You must not alter anything on the Tool or any related website. No material from the Tool or any related website may be used on any other website and no links may be created to the Tool or any related website site without our prior written consent.

9.5. We may make changes to the information on the Tool or any related website at any time without updating this page to reflect those changes and neither Scottish Equitable plc nor any other Aegon group company will be liable for any errors, omissions or for information becoming out of date. If you're in any doubt as to the accuracy and currency of any information on the Tool or any related website, or if you require any further information, please contact us.

9.6. The Tool is intended to assist you in assessing the cost of your financial outgoings in retirement and to gain an indication of the retirement income you may need, which is indicative only – it’s not to be taken as a guarantee as to the accuracy of the information and cannot be relied upon. No part of the Tool replaces product illustrations or other documents required by applicable laws and regulations, such as a Key Features document, and therefore using the Tool should not form the basis of making any decisions about a specific product or choice of product. 

9.7. You’re responsible for all fact-finding in relation to specific products and/or choice of products. You must ensure you’ve reviewed all of the terms and conditions relating to any investment or financial product as the Tool only models typical investments and product types and not any specific investment or product. 

9.8. We are not liable for any losses suffered in relation to your use of the Tool whether or not the information you put into the Tool is complete and accurate.

9.9. The features and output of the Tool may help you to consider what actions to take, and/or amounts to invest in order to achieve different financial objectives. This depends on a number of different factors. Including, for example:

·       How an investment grows

·       The value of other investments which may be held

·       Inflation

·       Charges

·       The age at which benefits start being taken

·       Annuity rates when a pension is purchased

You could get back more or less than any amount shown and may get back less than invested.    

9.10. These Terms of Service (including the Privacy Statement and our general social media “Participation Guidelines”) contain all the terms applicable to your use of the Tool, and form the entire agreement between you and Aegon.

9.11. Each of the terms of these Terms of Service operates separately. If any court or competent authority decides that any of these terms are unlawful or unenforceable, the remaining terms will remain in force and effect.

9.12. If we fail to insist that you perform any of your obligations, or if we don’t enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you don’t have to comply with your obligations. Any waiver we agree to provide would require to be given by us in writing.

9.13. You acknowledge that these Terms of Service don’t create or imply any partnership, joint venture or trust relationship between Aegon and you.

9.14. We may transfer our rights and obligations under these Terms of Service to another organisation, and this will not reduce your rights or obligations. You may not transfer your rights and obligations to any other person or third party.

9.15. We will not be liable or responsible for any failure to perform, or any delay in the performance of, any of our obligations under these Terms of Service if this is caused by events outside our reasonable control, including any act, event, non-happening, omission or accident beyond our reasonable control. Some examples of such events are:

·       Strikes, lock-outs or other industrial action

·       Civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war

·       Fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster

·       Impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport

·       Impossibility of the use of public or private telecommunications networks

·       Acts, decrees, legislation, regulations or restrictions of any government

Our performance under these Terms of Service will be suspended for the period that any such event (examples of which are set out above) continues, and we reserve the right to have any extension of time which is required to carry out our obligations under these Terms of Service for the duration of that period. Where possible, we will use reasonable efforts to bring such event (examples of which are set out above) to a close or to find a solution.

10. Data protection

Our use of personal information is governed by our Privacy & Cookies Statement, which forms part of these Terms of Service. Please read the Privacy & Cookies Statement carefully – it deals with rights and obligations in relation to personal data, including what we can do with it, to whom we may disclose it, together with your rights under applicable data protection laws.

11. Client Categorisation

Aegon categorises all of our clients as ‘Retail Clients’ under the Financial Conduct Authority rules for all services and transactions. This helps us to make sure that you receive the appropriate disclosure documents from us and that you’re made aware or everything you need to know in a timely fashion.

By selecting ‘Accept and proceed’ you’re confirming you’re happy to continue on the basis set out above.