INSIDE! FIND OUT HOW TO MIX YOUR - PRAG

January 2009
Bacardi–Martini UK Pension Scheme Defined Contribution Section
INSIDE!
FIND OUT
HOW TO
MIX YOUR
PENSION
COCKTAIL!

WELCOME
02 PENSIONWISE
Welcome to this year’s issue of PensionsWise, our newsletter for
members of the Bacardi-Martini UK Pension Scheme (“the Scheme”).
The theme of this year’s PensionsWise is the “Pension Cocktail”.
Bacardi is renowned for its creativity and ownership of the drinks
cocktail agenda in both on-trade and off-trade outlets. Cocktails offer
value and new experiences. The different ingredients combine to enrich
the taste and add to the enjoyment you experience when drinking it.
The same principles apply to the Pension Cocktail; the mix of the Company’s
contribution to the Scheme and what you contribute will create value for you in your
retirement, enabling you to maintain a good standard of living and enjoy new
experiences. In a drinks cocktail all the ingredients play an important part in getting the
right mix and the pensions cocktail is the same. Your contributions are a vital
contribution to your pension mix.
Last year’s theme was “change”, but I do not think that anyone could have predicted just how much
change there would be to the UK economy. The present economic situation emphasises the importance
of providing for your pension. The Company remains committed to support the Scheme but we
seriously encourage all of our employees to take responsibility for their pension. Make sure you are
saving enough to provide a pension that will meet your needs in retirement. The sooner you start and
the greater your pension fund at a younger age, the more opportunity you will have to earn investment
income and therefore a better pension.
I would like to thank the Trustees, on your behalf, for their dedication and expertise. Thanks to their
efforts we remain well informed about the importance of pensions and providing for our retirement.
Bacardi-Martini UK and Bacardi Brown-Forman Brands will continue to change - to improve. We have
the best premium spirits portfolio and the best people but we need to continuously improve our strategy
and executions to ensure that we continue to be successful in these challenging times. However, our
commitment to our people in general and pensions in particular will clearly not change.
Please read this edition of our award-winning PensionsWise in detail and please make sure that you are
well informed about the complex issue of pensions. Please also forward any comments, suggestions or
questions you may have either to me or to Adrian Devlin, the Secretary to the Trustees, at
the address shown on the back page of this newsletter.
Kind regards,
Mark J de Witte
Chief Executive Officer
‘Your pension is like any good
AWARD WINNER!
cocktail. It starts with Bacardi,
PensionsWise has picked up but it’s up to you what you make of it.
an award for the best summary Think of this glass as your pension - the Bacardi
pensions report sent to members is what the Company puts in on your behalf. It’s
of defined contribution schemes a great start to build on but it’s not enough to
at this year’s Pensions Research make the perfect cocktail on its own..’
Accountants Group (PRAG)
Summary Reports Awards.
The judges considered the report to be effective and likely to be
read by members due to the strong colours and themes used.
The picture above shows Adrian Devlin,
Secretary to the Trustees and Company appointed Trustee
receiving the award.
STEP 1:
YOUR PENSION
COCKTAIL

MEET YOUR
TRUSTEES
The Scheme has four Trustees.
CAIN ASHWORTH (Member nominated)
“Just after joining the Company I remember
thinking that signing up for the Pension Scheme
was probably a good idea... only after settling in
as a Trustee in 2005 did I realise how big a benefit
our pension is and how important it will be later
on in life! I also didn’t realise that I would need
to think about other savings to make sure I had
enough to retire early or to keep the golf club
membership going!
As a Trustee I have learned so much about
the Company Pension Scheme, associated
legislation and investment markets and look
forward to helping more and more members take
greater interest in our Scheme, investment options
and their future.”
ALLISON CAMPBELL (Company appointed)
“In my role as the HR Director, I like to be involved
in the Pension Scheme to ensure that pensions
remain an important part of our employees’ total
reward package. Our Scheme is a very valuable
benefit from which all our employees can benefit.
When you are young it can be hard to think about
retiring, but as Trustees we have a responsibility to
make sure you are preparing for your future.”
ADRIAN DEVLIN (Company appointed)
“I enjoy being a Trustee and encouraging
members to take responsibility for their pension.
We live in changing times and I try to ensure that
all of our communications stress the importance
of being “pensions aware”. With the vast majority
of UK pension schemes now being defined
contribution, providing for retirement is very much
the responsibility of the individual. That is the
most important message that we, as Trustees, can
give to the members of the Scheme.’
TRUSTEES’
UPDATE
PENSIONSWISE QUESTIONNAIRE
Feedback from the questionnaire that was issued
with the last copy of PensionsWise was very
positive, and according to you it is interesting,
clear and easy to read.
Thank you to those who took the time to respond.
We hope you will notice some changes to this
year’s PensionsWise – for example the additional
story from one of our pensioners - where we have
tried to incorporate your comments. To gather
feedback from our members who are employed by
the Company, we will circulate an email internally
to ask for your views on this year’s issue. If you
are a pensioner or deferred member, we would
also like to hear any comments you may have, so
please write to us using the details on the back
page.
BENEFITS STATEMENTS
To help our members who are saving in the
Scheme to plan for their retirement, we redesigned
the annual benefit statements that we issued last
summer.
We hope to expand these statements next year, by
including information on state pension forecasts.
The Government’s Pensions Service has just
updated its processes for calculating your state
pension forecasts, which should allow us to
provide this information in future statements.
As Trustees we are responsible for the smooth
running of the Scheme. We ensure that the correct
contributions are paid on time, that the Scheme’s
assets are invested appropriately, and that the
Scheme is effectively administered.
BRUCE RAY (Member nominated)
“Being a member nominated Trustee is a
responsibility given to me that I appreciate
and will treat with the relevant due care and
attention it deserves to ensure the best
possible outcome for all members. In today’s
increasingly turbulent financial environment,
we are fortunate to have such a supportive
and stable employer providing such a great
benefit. It is the responsibility of all involved,
employer, trustees and most importantly
you as members to deliver a great benefit in
retirement’.
From left to right: Bruce Ray, Adrian Devlin, Allison Campbell, Cain Ashworth.

Mike on the Mic
As the Scheme’s administration
team manager at Hymans
Robertson, Mike Common
works hard to ensure that all of
your questions are answered
accurately and in a timely
manner. Mike has a wealth of
experience in all matters relating to defined benefit
and defined contribution pension schemes, having
worked in pensions since 1993.
One of the most common questions Mike and his
team face is from members requesting an urgent
retirement forecast. Unfortunately, the team can
only provide these quotes in writing, Mike explains:
“We operate strict quality assurance procedures
and will only advise you of your benefits, in
writing, after the calculations have been
thoroughly checked. This ensures that you
receive accurate information.”
Another common question from members is asking
to transfer benefits into the Scheme. Mike explains
it is possible for members to do this, but adds:
“Any transfer value received will be paid into the
defined contribution (DC) section of the Scheme
Your new
Scheme actuary
Richard Shackleton has
recently taken over as
the Scheme’s actuary. He
works on the Defined Benefit
Section (DBS) of the Scheme to
calculate how much money
the Scheme will need to
pay all members’ benefits in the future.
Richard is a partner working in the Actuarial
Practice at Hymans Robertson, and takes over
from Clive Fortes who has stepped down as the
Scheme Actuary. Richard has more than 18 years’
experience in the industry and qualified as a Fellow
of the Institute of Actuaries in 1993. As well as
being an experienced Scheme Actuary and
consultant, Richard provides independent advice
to companies on all matters relating to pensions
including benefit design, scheme funding, risk
management and mergers and acquisitions.
04 PENSIONWISE
which, if you are transferring from a defined benefit
(DB) pension scheme, will mean that your new
benefits in the Scheme will now be DC in nature.”
He continues: “The Scheme cannot accept any
transfers relating to contracted-out employment
(see “Get Smart” pages 8 to 9), and I strongly
recommend that you seek independent financial
advice before deciding on whether to transfer
any benefits.”
For members looking to top-up their pension,
paying AVCs could be a good option. As Mike
explains: “AVCs attract tax relief and can be
invested tax free, so they represent a very efficient
means of saving for your retirement. The extra
benefits you receive will depend on the AVCs you
pay, the investment returns they achieve and the
cost of purchasing an annuity at retirement.”
Members looking to start paying or to increase
their AVCs should contact the Human Resources
department at Bacardi.
Should you have any queries, you can contact
the administration team by email at
barcardimartini@hymans.co.uk.
Keeping in
touch
The Trustees are considering the possibility of
running pension presentations and forums at
Company meetings over the next 12 months.
These would be designed to allow you to discuss
any pension questions you may have. Please let
us know what you think about this idea.
STEP 2:
YOUR PENSION
COCKTAIL
Dropping in some ice will
immediately make your Bacardi
even better to drink...
...Just as starting to pay a small level
of Additional Voluntary Contributions (AVCs)
can start to improve the amount of your pension
straight away.

What’s the biggest
risk you’ll take?
Saving for the future or not saving for the future?
Most extreme sports involve taking risks but because
you’re aware of the risks involved you can prepare
accordingly and take steps to manage them.
But are you preparing for your future in the same
way? Do you have a safety net to keep you out of
poverty in retirement? If you don’t, you really are living
on the edge!
“You should think of your pension as a
safety net – a means of keeping you
out of financial danger in retirement.”
Calculate how much you will need as your monthly
income when you retire and then think about how to
achieve that. Set yourself a target and then try to get
there. Think of it as your own proverbial pensions
mountain!
As a member of the Scheme, the Company’s
contributions give you a good basis to begin your
savings. To add to your retirement security you can
start to pay Additional Voluntary Contributions (AVCs).
Paying AVCs today can help you when you come to
buy a pension at retirement and the earlier you start
paying, the more time you have to benefit from
possible investment returns (see below).
Rate of
return
25 years to
retirement
20 years to
retirement
15 years to
retirement
10 years to
retirement
5% £100 £144.34 £221.18 £379.45
9% £100 £165.56 £288.48 £557.50
This table shows that if you thought about starting
contributions of £100 per month 25 years before
retirement, but put it off for 5 years you would have to
increase your contribution to £144.34 to get the same
level of pension (based on 5% investment returns).
The table illustrates that the longer you wait, the more
you will need to contribute (note that the value of your
investments can go down as well as up).
If you are a member of the Defined Benefit Section
of the Scheme, the Company has a promise to
supply you with a level of pension when you retire –
providing you with a safeguard for your retirement.
This gives you a guarantee, as you know how
much pension you will get from the Scheme. Your
AVCs will add to that income and as they are treated
as separate contributions they go into the Defined
Contribution Section.
For members of the Defined Contribution Section the
pension you will get at retirement depends on how
much you and the Company contribute, the
performance of your investments, and the cost of
buying an “annuity” or pension income when you retire
(see Get Smart, pages 8 to 9).
The cost of annuities can vary. The Trustees have
access to an “Annuity Calculator” – a product from
our annuity advisers Hargreaves Lansdown - which
scours the annuities’ market to find the annuity that
will give you the best income from your savings
at retirement. The Scheme’s administrators use this
tool when they write to give you a retirement
quotation
- a final safety feature
to help to maximise
the benefits from
the Scheme.
05 PENSIONWISE

FINANCIAL
UPDATE
WHAT THE CREDIT CRUNCH MEANS
TO YOUR PENSION!
You will have seen the headlines which have dominated the press recently about dramatic events within
financial institutions. In September and October, we witnessed considerable volatility in the stock
markets, largely driven by the continued fallout from the US credit crisis. In the US, this crisis resulted in
large mortgage lenders and other financial institutions having to seek help from the US Government.
The effects were also felt in the UK, where many banks have sought financial aid from the Government,
and where HBOS is set to be taken over by Lloyds TSB.
Governments and central banks around the world are now trying to do all they can to stabilise the
global financial system. However, markets continue to be extremely volatile on a day-to-day basis.
As a member of the Defined Contribution Section of the Scheme, you should try to understand the
effect of the recent market turmoil on your Retirement Account. If like most members of the Defined
Contribution Section you are investing in the Lifestyle Option, you will be predominately invested
in global equities for much of your lifetime. The Lifestyle Option allows members a long time from
retirement to participate in equity returns over the longer term, whilst protecting members approaching
retirement from fluctuating equity values. Although equity markets are volatile, over the long term they
have tended to outperform other assets and therefore represent an appropriate investment for members
who are a long time from retirement.
Depending on your situation the impact of the credit crunch on your Retirement Account will differ:
• If you are a long time from retirement the market volatility should not concern you. In volatile times,
equity investors are better off sitting tight. Over the long term it is likely that equities will ‘recover’
from their current levels.
• If you are within 10 years of retirement and invested in the Lifestyle Option, then you are likely to have
been protected from the worst of the falls in equity markets, as your equity investments have been
gradually switched into gilts from age 55.
• If you are close to retirement and making your own investment choices you should
review these to check they are appropriate. You may wish to seek advice
from an independent financial adviser.
06 PENSIONWISE
PAY NOW,
BUY LATER!
If you don’t pay now,
you can’t buy later

This information is taken from the Scheme’s latest accounts,
as at 31 March 2008, which were signed in September 2008.
PERFORMANCE OF THE DC
ASSETS AS AT 31 MARCH 2008
The table below summarises the fund returns achieved by the assets of the
Defined Contribution Section during the year to 31 March 2008 and for
the three years to 31 March 2008. The fund return is shown against the index return. The index is the target
return each fund is trying to achieve. You can see that over 1 and 3 years each fund has been on or very
close to its target. For comparison, the corresponding rate of price inflation is also shown.
ASSET ALLOCATION
The asset distribution of the Scheme’s assets
(including AVCs) as at 31 March 2008 was:
Cash 1.8%
UK equities 58.1%
Overseas equities 38.7%
Index linked bonds 1.4%
MONEY IN AND OUT OF THE SCHEME
The following table summarises
the value of the Scheme’s assets
(including members’ AVCs) at
the start and at the end of the
latest full Scheme Year, including
income and expenditure during
the period.
The Trustees Annual Report, which
includes the financial statement for
the Scheme year to 31 March 2008,
has been signed off by the Trustees.
The Auditors, PricewaterhouseCoopers
LLP, gave their opinion that the financial
statement gave a true and fair view of
the financial transactions of the Scheme.
1 year to 31 March 2008 3 years to 31 March 2008
Fund return
(%)
Index return
(%)
Fund return
(% per annum)
Index return
(% per annum)
60/40 Global equity fund -5.6 -5.6 10.1 10.1
Lifestyle transition funds – gilts 13.4 13.5 8.3 8.3
Lifestyle transition funds – cash 5.8 5.8 5.1 5.1
Abbey AVCs (1) 4.8% p.a. 4.2% p.a.
Price inflation 3.8% p.a. 3.6% p.a.
(1) This fund is only available to those who are currently contributing to it. Members wanting to start paying
cash AVCs are able to use the Prudential Cash Fund.
Value at 31 March 2007: £9.47m
What came in:
Contributions: £1.47m
Other income (transfers-in): £0.15m
Net growth in value of investments: -£0.54m
What went out:
Benefits payable: £0.78m
Value at 31 March 2008: £9.77m
(At 30 November 2008 the value of the assets had decreased to £8.02m)
07 PENSIONWISE

GET
JARGON BUSTER
In previous years we have provided you with
an A-Z of pensions terms. This received a very
favourable feedback in last year’s questionnaire
so this year we focus our Jargon Buster on the
terms which are used in this issue.
Actuary
A qualified professional appointed by the trustees
of an occupational defined benefit pension
scheme to carry out valuations and advise on
funding matters. An actuary is the person who
calculates how much money the Scheme will
need to pay all members’ benefits in the future.
Additional Voluntary Contributions (AVCs)
Contributions you pay in addition to the
Company’s contributions to add to your pension
fund. AVCs get the benefit of full tax relief and can
be stopped and started at any time.
Annuity
Members of the DCS (or a DBS member with
AVCs) obtain a pension provided by an annuity
which is a regular amount of income usually paid
monthly. This is paid by an insurance company for
life in exchange for a one-off payment at the time
of retirement.
Bond
An investment issued by governments and
companies who wish to borrow money and in
return promise to pay interest and eventually
repay the face value of the loan on a specified
date in the future. Insurance companies set the
cost of an annuity according to the market value
of bonds, so investing in bonds can help a person
approaching retirement to protect the pension
buying power of their Retirement Account.
08 PENSIONWISE
SMART
STEP 3:
YOUR PENSION
COCKTAIL
Adding a splash of coke would
leave you with a basic cocktail...
...just as upping your AVCs by
a small amount could leave you with a
sweeter retirement.
Contracting out
Some schemes are contracted out of the State
Second Pension (S2P). If you join such an
arrangement, you will not build up benefits in S2P.
Instead you and your employer pay lower National
Insurance contributions to the Government and
the scheme provides a benefit at least equal to
S2P (known as Guaranteed Minimum Pension
(GMP) or Protected Rights). You still build
contributions towards the Basic State Pension
and will still get the Basic State Pension when
you retire. You will also still be eligible for any
additional State pension you may have earned
for periods of employment when you were not
contracted out.
Equity
Shares in public companies traded on a stock
market. Buying shares in a company gives the
purchaser the right to share in the profits of the
company. NOTE: Over the long term, investors in
equities expect the value of shares to grow more
than the value of bonds or cash. However, this is
not guaranteed and shares prices can fluctuate a
great deal. If this happens as a member is about
to retire then there will be little time for the value
to recover before the planned date of retirement.
A ‘Lifestyle’ investment option can protect against
this.
Lifestyle option
A Lifestyle investment option aims to provide a
good, long-term rate of return over the majority of
your working life by investing in shares but then
in the last few years before retirement Lifestyling
steadily switches your investments out of shares
into less volatile and lower risk investments
(bonds and cash) that protect your pension
purchasing power close to retirement.

Gilts
A UK government bond. As a gilt is issued by the
government there is no risk of interest or the value
of the bond not being paid – corporate bonds
issued by companies are moderately higher risk.
Mojito!
For the smoothest Mojitos, gently crush mint
leaves and lightly squeeze lime in a cool tall glass.
Pour sweet syrup on top to cover and fill glass
with ice. Add Bacardi Rum, club soda, and stir
your emerging Mojito well. Garnish with a lime
wedge, a few sprigs of mint, toast, sip, and enjoy
Bacardi Mojitos with your friends.
For over a century, the Bacardi Mojito has
channelled the spirit of the Caribbean.
Use our original Mojito cocktail recipe to bring
a little of old Havana to your Mojito party or
gathering.
Retirement Account
Your Retirement Account is the “pot of money”
you accumulate to provide your pension. It
consists of Company contributions, any voluntary
contributions you have made, and any investment
returns earned.
Scheme documentation
The Scheme documents are kept by Adrian Devlin
– the Secretary to the Trustees. Please contact
Adrian (using the details on the back page), if you
would like to see any of the following:
Useful Information
Expressing your wishes
Your pension isn’t just about providing you
with a retirement income; it’s also about
ensuring your dependants and beneficiaries
are protected. To assist the Trustees, it is
important that you keep your “Expression
of Wish” form up to date – especially if your
circumstances have changed since you first
joined the Scheme.
If you need another form please contact
Adrian Devlin using the contact details
shown on the back page.
Finding an Independent Financial Adviser
Finding an adviser is easy. All you need
to do is call 0800 085 3250 or go to
www.unbiased.co.uk. This will get you
through to IFA Promotion Ltd – a non-profit
making organisation which can help you
find an adviser local to you.
Before you meet with your adviser it is a good
idea to find out about their fee structure and
how much it may cost.
> The Statement of Investment Principles.
This explains how the Trustees invest the
money paid into the Scheme.
> The Schedule of Contributions. This
shows how much money is being paid
into the Scheme.
> The Annual Report and Accounts of the
Bacardi-Martini UK Pension Scheme, which
shows the Scheme’s income and expenditure
over each Scheme year ending on each
31 March.
> The Scheme Actuary’s full report on the
Actuarial Valuation of the Defined Benefit
Section of the Scheme as at 31 March 2006.
> The Scheme booklet (you should have been
given a copy when you joined the Scheme,
but you can request another copy).
> An Annual Benefit Statement – If you are
not currently receiving a pension from the
Scheme you will be sent a statement once a
year that provides an illustration of your likely
pension. If you have not received a benefit
statement in the previous 12 months you can
ask for a copy.
List of Advisers
Actuary Richard Shackleton FIA,
Hymans Robertson LLP
appointed on 1st June 2008 to
replace Clive Fortes FIA who
stepped down as the Scheme
Actuary
Auditor PricewaterhouseCoopers LLP
Legal Adviser CMS Cameron McKenna LLP
Administrator Hymans Robertson LLP
One London Wall
London EC2Y 5EA
Tel: 020 7082 6184
Investment Barclays Global Investors
Managers Standard Life Investments Ltd
Equitable Life
Assurance Society
ING Real Estate
Investment Management
Bankers Barclays
Current AVC Barclays Global Investors
Providers Prudential
Abbey (closed to new members)

IT’S ALL
10 PENSIONWISE
ABOUT YOU!
Pensions can be complicated, but they are very important. Your pension is all
about you getting the most from your retirement. How you manage your savings
now will determine your lifestyle in the future. We want to hear from you and how
you intend to plan for your retirement. If you would like to contribute to future
PensionsWise issues please contact Adrian Devlin.
Dave Hickman
Olivia Preston
Dave is a member of the Defined Contribution Section of the Scheme.
The Scheme is non-contributory, so Dave accumulates benefits in the
Scheme just by joining – unlike in his previous jobs when he would
have to contribute to gain any contributions from his employer. But he
decided to keep paying contributions anyway when he joined Bacardi, as
he explains: “In my past jobs, whatever you contributed to your pension,
the company would always match. So when I joined Bacardi, I thought
I might as well keep on putting money into my pension, so that there’s a
bigger pot when I retire. It’s a no brainer really. I’d pay more if I had more
disposable income, but I feel I may as well do what I can for the time being
to make my pot bigger. I’m getting married this year, and when I’ve done that
there may be more spare cash, so I might decide to put more into it. And then
when my mortgage starts to come down, I’d like to start paying more.” When
Dave does eventually retire, he hopes to have saved enough to afford to play
golf most mornings, and to go on holiday regularly.
Olivia is currently paying AVCs into the Defined Contribution Section of
the Scheme as a convenient way to plan for her retirement. “I thought
it was best to consolidate all of my savings into a pension, because I
wasn’t really saving much towards my retirement. I was saving into an
investment account, and as I was only paying a small amount each month
I thought it was better to consolidate it rather than have a small amount
accumulating in another account. When you pay AVCs into the Scheme,
you can also see it all on your benefits statement – it’s all really clear on
the statements that are produced by Bacardi – and it’s much clearer than
having lots of little savings pots sitting around all over the place.” Olivia
urges member who are not paying AVCs to think whether they could
benefit from paying them: “Paying AVCs can really boost your pension
when you’re older, just by paying an extra £50 a month. And what’s £50
a month? It’s just the equivalent of a night out! I’m sure that paying £50
a month isn’t a lot towards a pension, but it all helps doesn’t it? And I’m
sure everyone can afford to pay that!”
STEP 4:
YOUR PENSION COCKTAIL
Maybe you’d prefer something more elaborate?
How about a Bombay Bramble
...You could boost your AVCs to give you a bigger
pension leading to a more interesting retirement.

WHERE
ARE THEY NOW?
TRACKING DOWN MISSING MEMBERS
Can anyone help? The following members
have moved address and have not told us
their new details. Do you know where they
are now? Please contact Adrian Devlin
(using the contact details on the back
page) if you have details on any of
the following:
Peter Baker
Elisabeth Barnes
Timothy Barry
Paul Barton
Glenda Bean
Diana Blakeman
Malcolm Bontes
Fiona Booker
Rosamund Bowles
Eileen Brown
Jannette Christopher
Kerstin Connor
Kevan Cooke
C Cornell
John Dean
Michael Delaney
Alicia Delfin
Andrew Elliott
Louisa Ennals
Tracey Eveleigh
Daniel Ganhy
Brian Gates
Matthew Gould
Peter Gray
John Greenwood
Caroline Hancock
Eric Harris
Ellena Heaton-Kostek
Emma Hesketh
Lisa Holloway
Gemma Hughes
Barbara Hughes
Pierpaolo Indelicato
Mary Jenkins
John Jones
Keith Jones
Helen Killington
M King
Jane Lampard
Patricia Lawson
E Lindsay
Peter Lowe
Alan Lyddon
Ian Mayes
John Mcallen
Peter Mcgann
Iain Mclaren
A Mitchell
Hugh Muir
Jason Munro
John Murphy
Jeremy Jones
Michael Parsons
John Patnell
Raymond Powell
Stella Rogers
Victor Rumeur
Fiona Smale
M Smart
Naomi Smith
Jullie Smith
G Smy
Jacqueline Stevens
Fiona Strickland
Victoria Sutherland
Sharon Talbot
Stephanie Tanner
Stephen Taylor
Barbara Thompson
Stephen Turner
A Specht
Susan Ward
Angela Weaver
Linda Webster
Stephen Westgarth
A M Wilcock
David Willard
Victoria Williams
Matthew Williams
Stephen Wiltshire
I Wood
Paul Woodward
Kevin Woodward
J Wootton
OBITUARIES
Sadly we have to report that seven members have
died since the last issue of PensionsWise.
Denise Miller
Pamela Meria
Mary Pinckney
Brian Ponsford
Eric Farr
David Thomas
Ernest Wright
NEW RETIREES
The following 13 members have retired since the
last report:
Peter Bates
Timothy Coombes
Jane Hallman
William Harder
David Helton
James Noble
Gillian Oliver
Peter Ryan
Annette Sanderson
Gillian Senior
Stephen Smith
John Speirs
David Venables
SCHEME
MEMBERSHIP
The Scheme has active (employed) members and
deferred members (members who have left the
Company but still have a Retirement Account in
the Scheme). The table below shows you the total
membership and how it has changed.
31 March 2007 31 March 2008
Active members 457 456
Deferred members 192 313
11 PENSIONWISE

Your pension mix
For the smoothest mojitos, gently crush some mint leaves and lightly squeeze lime
in a cool tall glass. Pour some sweet syrup or sugar on top to cover and fill glass
with ice. Add Bacardi Rum, club soda, and stir your emerging mojito well. Garnish
with a lime wedge, a few sprigs of mint, toast, sip, and enjoy Bacardi mojitos with
your friends.
Saving for your pension may seem like hard work and retirement may seem like a long way off but it’s
important to start early. Just as the extra effort for a cocktail can be well worth it, the extra effort for your
pension can be worth the effort too. Here Nick Claxton, a pensioner of the Scheme, shares his view on
the importance of saving for the future.
Nick Claxton
Nick is a pensioner member of the Defined Benefit Section of the Scheme,
having retired from Bacardi in June 2007. He lives with his wife Ann in North
Baddesley, has two children, who are now grown up, and one grandchild.
Balancing paying AVCs with other spending meant that Nick postponed
paying into his pension until the mid 1990s. Yet he urges current savers to make
plans for retirement: “You should start saving as soon as you can, even if it’s just
a small amount each month. At least make a start! I wish I’d started paying them
earlier, even if it was only £20 or £30 a month, but hindsight is always a fine thing.”
Since retiring Nick has enjoyed having more free time and not having to get up
early to start work at Bacardi at 8am. He’s been spending time on some building
work at home, playing golf, going to Old Trafford to see Manchester United play
football, where he is a season ticket holder, and he has also travelled within Europe.
CONTACT DETAILS
We hope you have found this year’s PensionsWise
useful. If you would like any further information or
want to suggest topics to cover in future, please contact:
Adrian Devlin at Bacardi-Martini Limited,
Bacardi Brown-Forman House, Kings Worthy,
Winchester, Hampshire, SO23 7TW or call
01962 762100 extension 2124.