Guide to Retirement

Acceptance of the Terms of Use, Amendments and Additional Terms

Acceptance of the Terms of Use and Amendments

You must read the following information before proceeding. It provides information on some of the laws and regulations applicable to this website. By accessing this website and any pages thereof, you acknowledge that you have read the following information and accept the terms and conditions set out below and on the relevant pages of this website, and agree to be bound by such terms and conditions. If you do not agree to such terms and conditions below, do not access this website, or any pages thereof.

These Terms of Use are in addition to any other agreements between you and JPMorgan Asset Management (Singapore) Limited (“we” or “us”, ("JPMAMS"), including any customer or account agreements, and any other agreements that govern your use of JPMAMS 's products, services, content, tools, and information available on this website.

Your use of this website is governed by the version of the Terms of Use in effect on the date this website is accessed by you. The information contained in this website is current as at the date of publication but we reserve the right to change the website and the Terms of Use at any time without notice. If you use the website after the amended Terms of Use have been published, you will be deemed to have agreed to the Terms of Use, as amended.

Additional Terms

Certain sections or pages on this website may contain separate terms and conditions, which are in addition to these Terms of Use. In the event of a conflict, the additional terms and conditions will govern for those sections or pages.

Issuer of Website

The information contained herein is issued by JPMAMS. JPMAMS which is a financial entity regulated by the Monetary Authority of Singapore ("MAS"), which has authorised the funds mentioned herein (except those specifically referred to as funds which have not been authorised by the MAS). However, the MAS takes no responsibility for the information contained herein, the soundness of the authorised unit trusts or mutual funds and does not imply that investment in them is recommended by the MAS.

Authorised Users and Authorised Use

Authorised Users

None of the funds mentioned herein have been approved for sale or purchase by any authority outside Singapore. This website is not directed to any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the publication or availability of this website is prohibited. Persons in respect of whom such prohibitions apply must not access this website. It is the responsibility of any persons who access the information contained herein to observe all applicable laws and regulations of their relevant jurisdiction. By proceeding, you are representing and warranting that the applicable laws and regulations of your jurisdiction allow you to access the information.

Authorised Use - No solicitations

The information contained in this website does not constitute a distribution, an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction outside Singapore. In particular, the information herein is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States of America, Canada, Australia, Hong Kong, Malaysia, Korea and India, to or for the benefit of United States persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof) and persons of any of the aforesaid countries.

Authorised Use - No investment recommendations or professional advice

The information contained in this website does not constitute investment advice. An investment in funds mentioned in this website may not be suitable for all investors and if you are unclear about any of the information on this website, please consult your stock broker, lawyer, accountant, bank manager or other professional adviser.

While certain tools available on the website may provide general investment or financial analyses based upon your personalised input, such results are not to be construed as our providing investment recommendations or advice. Unless otherwise agreed by JPMAMS in writing, you alone are solely responsible for your investment decisions based on your investment objectives and personal and financial situation.

Prohibited Uses, Means of Access and Password Protected Areas

Prohibited Uses

Because all servers have limited capacity and are used by many people, you may not use the website in any manner that would damage or overburden any JPMAMS server, or any network connected to any JPMAMS server. You may not use the website in any manner that would interfere with any other party's use of the website. You may not use any robot, spider, other automatic device or manual process to monitor or copy our web pages, data or the content contained herein or for any other unauthorized purpose without our prior expressed written permission.

Means of Access

This site is optimised for viewing with Microsoft Internet Explorer (version 6.0 SP1 or above) or Netscape Navigator (version 4.76 or above). Recommended screen resolution is 1024 x 768. Although you may use other means to access the website, be aware that the website may not appear accurately through other access methods, and you use them only at your own risk. You are responsible for setting the cache settings on your browsers to ensure that you are receiving the most recent data.

Password Protected Areas

Access to and use of password-protected and/or secure areas of the website are restricted to authorised users only. You may not obtain or attempt to obtain unauthorised access to such parts of our website, or to any other protected materials or information, through any means not intentionally made available by us for your specific use. Unauthorised individuals attempting to access, or actually accessing, these areas may be subject to criminal and/or civil prosecution.

Collection of Personally Identifiable Information

JPMAMS may also through this website collect PERSONALLY IDENTIFIABLE INFORMATION ("PI Information") including the IP address of your personal computer; the country you are from and certain personal details (e.g. age, name etc.).

We may also use software tools or 'cookies' to gather information about your browsing activities. The information collected (which may also comprise PI Information) may be used for statistical and evaluation purposes and may be processed by us, our agents or any other third party which provide services to JPMAMS.

JPMAMS is fully committed to protecting the privacy interests of individuals who provide us with information about themselves. In doing so, we instruct our staff to comply with strict internal standards of security and confidentiality. Please refer to our Privacy Statement and Cookies Policy for further information on our handling and use of such PI Information.

Disclaimers

Content and Downloading Disclaimers

JPMAMS believes that the information contained on the website is accurate as at the date of publication, however no warranty is made as to the accuracy, suitability, usefulness, reliability or completeness of any such information and no liability in respect of any errors or omissions (including any third party liability) is accepted by JPMAMS or its affiliates or any director or employee of JPMAMS or its affiliates. The use of this website and the delivery (“Delivery”) of information or documents by JPMAMS or its agents through this website or via electronic mail or other modes of delivery, is at your own risk. No warranty is given that the content of this website and the Delivery (including any such information) will be error free or that this website or any servers that operate it or the Delivery are free of computer viruses or other harmful components.

Reasonable precautions have been taken to ensure that website content, including account information and pricing data, are complete and accurate. However, due to the nature of information delivery technology and the necessity of using multiple data sources, including third party content, JPMAMS is unable to assure the accuracy of the data you access through or download from this website. Website content (including any documents available from the website) is presented only as of the date published or indicated and may be superseded by subsequent market events or other reasons. JPMAMS has no duty to update this website or any website content. JPMAMS shall not be liable to you or any third party for any damages arising from any actions or investment decisions taken by you based on the accuracy (or otherwise) of the data presented through or downloaded from this website. JPMAMS or its affiliates and their directors and employees may or may not have a position in or with respect to the securities mentioned herein.

JPMAMS does not warrant that any downloads from this website will meet your needs or expectations, or be uninterrupted, secure or error free or that any files available for downloading through this website are free of computer viruses or other harmful components. You alone are responsible for ensuring adequate protection and backup of data, software, computer and other equipment is made and appropriate safeguard is in place to detect, prevent and eliminate computer viruses and other harmful effects. JPMAMS or its affiliates will not be responsible for any costs or expenses which may be incurred if your use of this website or the Delivery or downloads results in any servicing or replacement of property, material, equipment or data.

Third Party Content Providers, Sites, Referrals, Hyperlink Policy and Disclaimers

For informational or educational purposes, or as a service and convenience to you, this website may provide referral information, third party content or live links to a regulatory agency, non-profit organisation, or other unaffiliated third party and their websites, including companies that have a relationship with JPMAMS.

Our decision to provide referral information to a third party or to pass on an offer made by a third party vendor or to provide a link from our website to a third party website is not an endorsement of the third party, their products or services, or their website accessed through any such links. We are not responsible for the opinions, ideas, products, information, or services offered at such sites. While we would generally only provide such information from, or links to, sources considered reliable, we do not conduct independent investigations and accordingly we make no representations or warranties, express or implied, as to third party products, services, content, tools, information and website, and do not guarantee their accuracy, timeliness, completeness, reliability, suitability or usefulness for any particular purpose as we have no control over the content on such non JPMAMS websites. We advise and encourage you to do your own research and make your own assessment.

Although third party content may be displayed, framed-in or provided in a pop-up box on the website, or available through a live link from our website to a third party website, JPMAMS does not prepare, edit, guarantee or endorse, approve, recommend or introduce any third party content. By clicking on a link from our website to any third party website, you will leave this website (even if, for your convenience, a second browser window is opened). When viewing third party content through such a link, keep in mind that the third party's website terms and conditions, privacy and security policies, or other legal information may be different from those of JPMAMS website. We are not liable for any direct or indirect technical or system issues, consequences, or damages arising from your use of any third party website or information provided by third party. We do not warrant that such site or content is free from any claims of copyright, trademark, or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination. Your access, use and reliance upon such content, products or services is at your own risk.

Limitation of Liability on System and Transmission over the Internet

JPMAMS or its affiliates, or any of their respective directors, officers, employees or agents shall not liable for any event of Force Majeure, any virus or other harmful component affecting the website or any server that operates it, any interception of data or communications in connection with the public nature of the internet, any problems or technical malfunction of any telephone network or lines, computer online systems, servers or providers, computer equipment, software failure of any email or entry to be received on account of technical problems or traffic congestion on the Internet, telephone lines or at any website, or any combination thereof, including any loss of opportunities or profit arising from any time delay, system disruption or interruption, transmission blackout, delayed transmission or any incorrect data transmission, or any injury or damage to the computer or other electronic devices or property of any person accessing their website or any other person related to or resulting from accessing the websites or downloading any materials from the website of JPMAMS or any third party.

JPMAMS or its affiliates, or any of their respective directors, officers, employees or agents shall not be liable for any and all losses, injury (including special, indirect and consequential losses), damages, rights, claims and actions of any kind resulting from accessing or downloading any materials from the website of JPMAMS or any third party, including without limitation, personal injuries, death and property damage.

EXCEPT AS SPECIFICALLY SET FORTH HEREIN OR WHERE THE LAW REQUIRES A DIFFERENT STANDARD, WE SHALL NOT BE RESPONSIBLE FOR ANY LOSS, DAMAGE OR INJURY OR FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES, INCLUDING LOST PROFITS, ARISING FROM OR RELATED TO THE SYSTEM, EQUIPMENT, BROWSER AND/OR THE INSTALLATION OR MAINTENANCE THEREOF, ACCESS TO OR USE OF THE WEBSITE, FAILURE OF ELECTRONIC OR MECHANICAL EQUIPMENT, THE INTERNET, THE SYSTEM, OR COMMUNICATION LINES, TELEPHONE OR OTHER INTERCONNECT PROBLEMS, BUGS, ERRORS, CONFIGURATION PROBLEMS OR INCOMPATIBILITY OF COMPUTER HARDWARE, SOFTWARE, THE INTERNET, OR THE SYSTEM, FAILURE OR UNAVAILABILITY OF INTERNET ACCESS, PROBLEMS WITH INTERNET SERVICE PROVIDERS, PROBLEMS OR DELAYS WITH INTERMEDIATE COMPUTER OR COMMUNICATIONS NETWORKS OR FACILITIES, PROBLEMS WITH DATA TRANSMISSION FACILITIES OR ANY OTHER PROBLEMS YOU EXPERIENCE DUE TO CAUSES BEYOND OUR CONTROL.

Offering Documents and Investment Risks

Units or shares in funds mentioned on this website may only be bought and sold on the terms set out in the relevant explanatory memorandum or Singapore offering documents, as applicable. Investments in emerging markets and smaller companies may involve a higher degree of risk and are usually more sensitive to price movements. Past performance is not a guide to future returns and investors should be aware that the value of units or shares and the income from them may fall as well as rise and they may not get back the full amount invested. Exchange rates may also cause the value of the underlying overseas investments to go up or down. Prospective investors should consult their own professional advisers on the legal and tax implications of making an investment in, holding or disposing of any securities mentioned herein and the receipt of distributions with respect to such a fund.

Copyright, Trademark, Logo, Patent, Intellectual and Other Property Rights

All copyright, trademark, logo, patent, intellectual and other property rights in the information contained herein is owned by JPMAMS or its affiliates. No rights of any kind are licensed or assigned or shall otherwise pass to persons accessing such information. Under no circumstances should information contained herein or any part of it be copied, reproduced or redistributed without JPMAMS 's express written consent.

You acknowledge that content on the Site or otherwise available from JPMAMS through any other Dealing Facility (“Content”) is subject to copyright and possibly other intellectual property rights (“IPRs”). Unless expressly permitted by law, the applicant shall not, and shall not permit any other person to, sell, modify, copy, reproduce, distribute, display or publish any Content which the applicant does not own or hold under licence or otherwise infringe the IPRs of any person in using the Site or any other Dealing Facility or any Content.

The website may contain Content posted, emailed or otherwise submitted by you and/or, in the case of the website, by other users of the website (“User Content”). JPMAMS has the right to access and examine any User Content and may in its absolute discretion move, remove or disable access to User Content or cause the same to be done. You grant JPMAMS a perpetual, irrevocable, royalty free licence to use, reproduce, modify, adapt, publish, translate, incorporate in other works, distribute and display any information posted, emailed or otherwise submitted by you, in whole or in part.

Computer Equipment, Browser Access and Internet Services

You are responsible for obtaining, installing, maintaining and operating all software, hardware or other equipment (collectively, “System”) necessary for you to access and use and access this website. This responsibility includes, without limitation, your utilising up to date web-browsers and the best commercially available encryption, antivirus, anti-spyware, and internet security software. You are additionally responsible for obtaining Internet services via the Internet service provider of your choice, for any and all fees imposed by such Internet service provider and any associated communications service provider charges. You acknowledge that there are certain security, corruption, transmission error, and access availability risks associated with using open networks such as the Internet and you hereby expressly assume such risks, including, but not limited to those we may disclose in our materials. You acknowledge that you are responsible for the data security of the Systems used to access this website, and for the transmission and receipt of information using such Systems. You acknowledge that you have requested access to the website for your convenience, have made your own independent assessment of the adequacy of the Internet and Systems and that you are satisfied with that assessment. JPMAMS is not responsible for any errors or problems that arise from the malfunction or failure of the Internet or your Systems nor are we responsible for notifying you of any upgrades, fixes, or enhancements to, or for providing technical or other support for your Systems. Although we may provide a link to a third party site where you may download software, we make no endorsement of any specific software, hardware or Internet Service Provider and your use of any such software, hardware or service may also be subject to the license or other agreements of that provider, in addition to these Terms of Use.

Indemnification, Governing Law and Languages

Indemnification

As a condition of your use of this website, you agree to make JPMAMS and its third party providers whole for any and all claims, losses, liabilities and expenses (including but not limited to attorney's fees) arising from any use of this website or your violation of these Terms of Use.

Governing Law

These Terms of Use shall be governed in all respects by the laws of Singapore.

You shall comply with all laws, rules and regulations by any governmental authority or agency which govern or apply to the operation and use of this website. These Terms of Use inures to the benefit of JPMAMS, its successors and assigns. You may not assign these Terms of Use. No waiver to these Terms of Use shall be effective unless agreed in writing by JPMAMS. All rights not expressly granted herein are reserved by JPMAMS.

Languages

In case of discrepancies between the English and other language versions of these Terms of Use and content of this website, the English version shall prevail.

Click the "Accept" button below if you have read,understood and agree to abide by the Terms of Use, otherwise, please click "Decline" to leave the website.

Guide to Retirement

Cover Page

J.P. Morgan Asset Management: Risks and Disclosures

Cover Page

Page reference

The retirement equation

Life expectancy probabilities

More people are working later in life

Dependence on family for cash allowances when older

Retirement savings checkpoints – are you on track?

Income replacement needs for a comparable lifestyle after retirement

Annual savings needed if starting today

Benefits of saving and investing early

Spending and inflation

The 4% rule: projected outcomes vs. historical experience

Dollar cost ravaging: timing risk of withdrawals

Mitigating dollar cost ravaging: dynamic spending

Disability incidence increases with age

Long-term care planning options

“The Prosperous Retirement”: a theoretical spending profile

Goals-based wealth management

Structuring a portfolio to match investor goals in retirement

Align your portfolio with your goals

Impact of being out of the market

J.P. Morgan Asset Management: Risks and Disclosures

Cover Page

Page reference

The retirement equation

Life expectancy probabilities

More people are working later in life

Dependence on family for cash allowances when older

Retirement savings checkpoints – are you on track?

Income replacement needs for a comparable lifestyle after retirement

Annual savings needed if starting today

Benefits of saving and investing early

Spending and inflation

The 4% rule: projected outcomes vs. historical experience

Dollar cost ravaging: timing risk of withdrawals

Mitigating dollar cost ravaging: dynamic spending

Disability incidence increases with age

Long-term care planning options

“The Prosperous Retirement”: a theoretical spending profile

Goals-based wealth management

Structuring a portfolio to match investor goals in retirement

Align your portfolio with your goals

Impact of being out of the market

J.P. Morgan Asset Management: Risks and Disclosures