These returns are based on data collected by investment advisors DWA from a variety of sources including individual providers and data published on Morningstar. The returns for Penfold are based on a customer being invested in our Standard Lifetime (default) plan. The competitor returns are also based on customers invested in their default plans. DWA have estimated the Returns (Gross) based on available information for a member with a typical pot size of £10,000 and an average salary of £30,000. These are annualised returns are based on data from June 2019 to September 2023. DWA have estimated the Returns (Net of fees) net of all costs and charges based on available information for a member with a typical pot size of £10,000 and an average salary of £30,000. Actual returns may vary depending on a variety of factors including specific costs negotiated by a member's employer, actual pot size and actual salary. Where possible we have used actual return series available, though in assumptions have been made based on the underlying funds because of poor data availability and this may also result in some variance. The effect of charges have been applied to the return series on a monthly basis via a subtraction/addition of the proportionate amount, this may create small discrepancies with actual experience depending on charging structure. DWA are happy to correct any discrepancies should evidence be provided. Past performance is not indicative of future returns. The value of investments can rise and fall, you may get back less than you put in.