Scheme Summary

How Your Fund is Invested


The scheme offers its members a balanced investment strategy. The majority of the assets will be invested in funds managed by Ganita Wealth Ltd. The remainder of the funds will be invested in alternative investment schemes and products to provide diversification and access to potentially higher returning investment opportunities.


The Scheme will also seek to invest a proportion of the available funds in alternative investment schemes, products and/or funds. The intention will be to gain access to potentially higher returning investment opportunities to increase the value of the investment pool and to provide Members with a more diversified portfolio of investments.

The Audax Pension is an Occupational Pension Scheme (“OPS”) sponsored by Refined By Ltd. and is registered with HMRC and the Pensions Regulator. 

The Scheme is managed by a Corporate Trustee, Audax Management Ltd., who are responsible for the day to day control and administration of the Scheme. The Corporate Trustee performs its function entirely for the benefit of the members.

We cannot offer any return of funds below age 55 unless you are in serious ill health. The retirement age of the Scheme is 70 but you can apply to draw your retirement benefits at any age from 55.

You will receive an annual retirement benefit statement, which will provide you with the current valuation of your investment in the Scheme and also provide you with a projection of your entitlements at retirement. 

The Scheme’s Trust Deed and Scheme Rules, the Annual Corporate Trustee Report and the annual audited accounts are available on request.

In the event of your death, your beneficiaries will be entitled to a death benefit and we ask that you provide the Corporate Trustee with details of your nominated beneficiary/beneficiaries.

Retirement – Current Rules

Upon retirement, you will have the option of a tax-free cash sum of up to 25% of your fund’s investment value, together with the ability to purchase a pension payment for yourself, your spouse or your dependents. All pensions will be secured by way of an annuity and you may select the provider you prefer.

Retirement – New Rules

From April 2015 you will no longer have to buy an annuity with your pension funds. In fact, all restrictions on your pension pot will be removed and you will have total freedom over how you withdraw your money.

Under the new rules you will be able to access your entire pension after the age of 55. As is the case now, 25% of your money can be withdrawn free of any income tax.  The remaining 75% of your money will be subject to income tax at your highest marginal rate. You can withdraw it all at once or in stages.

Once you have withdrawn your money, you can spend or invest it in any way you see fit.

Contact us if you would like to find out more