3rd March 2011

Scottish Widows: Bringing the best together

Introducing your new combined commission statements

On 21 March one of the final stages of the Scottish Widows and Clerical Medical integration will be complete. From this date you’ll start to receive a combined commission payment and statement from Scottish Widows. This new Scottish Widows branded statement design is based on IFA feedback, and will make it easier for you to keep track of your commission.

Combined Commission Statements

Key benefits of the combined statement:

• Your commission is reported in a way that reflects your organisation’s structure
• Scottish Widows and Clerical Medical heritage products will be clearly listed, making the statement easier for you to check
• Summary pages will show you the amount earned by each part of your organisation, and by each registered individual
• You can switch to paperless statements, by opting to receive EDI only
• If you already use EDI, you’ll receive one commission EDI feed.

From 21 March the minimum payment threshold for payment of commission will be £400. There is no change to the commission calculations, so the amounts due to you won’t change.

You don’t need to do anything as a result of this update. However we understand you might have some questions regarding your new statement. We’ve therefore produced a Q&A document and a sample statement, which you can view here www.scottishwidows.co.uk/commission

If you have any further questions, you can call your normal commission team. If applicable, you can also contact your account manager who will be happy to help.

Pensions, Investments