Retirement Income Choice® 1.5 Rider - DWS Investments

Protection of lifetime income with the RetirementIncome Choice® 1.5 riderPROTECTION OF GROWTH AND INCOMEYou want to have enough money for as long as you live. We guarantee retirement income for therest of your life. But you also want to have a comfortable retirement. We provide the opportunityfor your retirement income to grow, and we do this in two ways.First, even after you start taking withdrawalsyour withdrawal base will grow anytime youreceive an automatic step-up.■■We look back at your 12 monthly policyvalues on the date you purchased the rider—your Monthiversary SM■■We automatically lock-in the highest monthlyvalue and step-up your Withdrawal Base tothis new value on the rider anniversary 1Second, your annual rider withdrawalpercentage will grow anytime you receive anautomatic step-up and enter a new age group.AttainedageSingle lifewithdrawalpercentageJoint lifewithdrawalpercentage75+ 6% 5.5%65–74 5% 4.5%59–64 4% 3.5%If the rider is structured as joint life, the withdrawalpercentage is based on the younger of the annuitantor the annuitant’s spouse when withdrawals beginFAST FACTSPolicy Value is equal to the owner’s premium payments less any gross partial surrenders and reflectsthe gains and/or losses of the selected investment option(s).Withdrawal Base is equal to the policy value when the rider is added, plus any additional premiums,and less any adjustments for excess withdrawals after the rider is added. The Withdrawal Base is usedto calculate the annual rider withdrawal amount.Automatic step-ups are an opportunity to grow your Withdrawal Base.Excess Withdrawals are any withdrawals that are in excess to the rider withdrawal amount.1The growth protection applies only to the withdrawal base and does not affect the policy value, death benefitsand other values in the annuity.All guarantees, including optional benefits, are based on the claims-paying ability of the issuing insurance company.The rider withdrawal amount is equal to the greater of the withdrawal percentage multiplied by the WithdrawalBase or the Required Minimum Distribution, if applicable. Any withdrawals, including those permitted under therider, reduce your variable annuity’s policy value. The rider Monthiversary SM component of an Automatic step-upis not applied in rider years an excess withdrawal is taken.DWS Personal Pension Variable Annuity » 7

DWS Personal Pension Variable Annuityinvestment optionsRETIREMENT INCOME CHOICE® 1.5 RIDERDWS Personal Pension Variable Annuity with the Retirement Income Choice® 1.5 rider can helpyou address potential retirement risks by providing tax-deffered, lifetime income and protectionregardless of market or economic conditions. If you select the Retirement Income Choice® 1.5 rider,work with your DWS Resource Center Investment Consultant to determine which Designated AllocationModel is right for you.DESIGNATED ALLOCATION MODELSModerate Growth Moderate ConservativeEquityDWS Capital Growth VIP(Class A)DWS Large Cap Value VIP(Class A)Fixed IncomeDWS Unconstrained IncomeVIP (Class A)AlternativesDWS Alternative AssetAllocation VIP (Class A)DWS Dreman Small Mid CapValue VIP (Class A)DWS Small Mid Cap GrowthVIP (Class A)DWS Government & AgencySecurities VIP (Class A)DWS Global Small Cap GrowthVIP (Class A)Transamerica MFSInternational Equity VPTransamerica JPMorgan CoreBond VPRETIREMENT INCOME CHOICE® 1.5 RIDER DESIGNATED ALLOCATION MODELS■■The Designated Allocation Models are comprised of ten underlying fund portfolios that togetherprovide a unique allocation mix not available as a single underlying fund portfolio.■■Automatic monthly rebalancing is required to ensure assets are allocated to the percentages in thesame proportion as at the time of election■■You may transfer from one static model to another static model¹1Transfers between models is considered one transfer. After 12 transfers in a year, a $10 per transfer fee may apply.Note: Designated allocation models are static and Transamerica can eliminate a model at anytime. If a model is undesignated,then 100% of the policy value will have to be reallocated to another designated allocation model to retain the RetirementIncome Choice® 1.5 rider. All Transamerica VP Investment options are Transamerica Series Trust Initial Class (Investment adviserTransamerica Asset Management, Inc.) unless otherwise noted. Please see prospectus for details.8 » DWS Personal Pension Variable Annuity

DWS Personal Pension Variable Annuity—Product summaryPurchaseGuidelinesContract andmanagementfees and chargesOptional livingbenefit riderDeath BenefitsAccess to yourmoney■■Minimum initial premium: $1,000 (qualified) $5,000 (non-qualified)■■Maximum premium: $1,000,000 (ages 0 to 80), $500,000 (over age 80)■■Issue age: 0 to 90 annuitant or owner■■0.45% annual mortality and expense fee and administrative charge(M&E&A – reflects policy value death benefit)■■Annual portfolio management expenses range from xx.xx% to xx.xx$■ ■ $35 annual service charge (waived with net premiums paid or policyvalue of $50,000 or more)Retirement Income Choice® 1.5 Rider: Issue age 0 to 85Provides growth and protection by providing guaranteed income for the restof your life and the opportunity for your Withdrawal Base to grow.Investment options for the rider allow you to allocate to one of threedesignated allocation models:■■Model A – Moderate Growth:■■Model B – Moderate:■■Model C – Conservative1.40% initial fee1.00% initial fee0.45% initial feeThe fee percentage may increase with an automatic step-up. The maximumpercentage allowed is 0.75% higher than the initial rider fee.Standard■■Prior to annuitization, beneficiaries receive policy valueOptional■■Return of premium: issue age 0 to 85 – additional 0.15% M&E annual fee■■Annual step-up premium: issue age 0 to 75 – additional 0.35%M&E annual fee■■No surrender charges during the accumulation phase■■No sales chargesFEE EXAMPLEConservative Moderate Moderate GrowthM&E&A fee (reflects policy) 0.45% 0.45% 0.45%Optional living benefit rider 0.45% 1.00% 1.40%Portfolio asset management fee 0.67% 0.71% 0.76%*Does not include facilitation fee of 0.19 which may apply to some funds. Please see prospectus for complete list of fees.Some features may not be available in all states and may vary by state. Conditions and restrictions may apply. See prospectusfor details.DWS Personal Pension Variable Annuity » 9

Explore your options with the DWS resource centerKNOWLEDGE IS POWERIn investing, you’re faced with a number of choices. The types of products or securities to investin could be one of your choices. Whether to invest on your own or with help from a professional isanother. Only you can decide what options may work best for you and your individual situation.DWS now offers the services of a Resource Center. Staffed by licensed advisors, our representatives candiscuss your objectives and current portfolio, and create a customized analysis to help you determine ifDWS Personal Pension Variable Annuity might make sense for you.To maximize the service experience, a dedicated toll-free telephone number has been established at(855) 491-0751 to speak with one of our representatives directly.Please note, DWS Personal Pension Variable Annuity is available ONLY through the DWS ResourceCenter, to investors for whom DWS is the designated broker of record. Remember, variable annuitiesare not for everyone. They are long-term financial products designed for retirement purposes andcontain underlying investment options that are subject to market fluctuation, investment risk, andpossible loss of principal.10 » DWS Personal Pension Variable Annuity

Additional informationFUNDS AVAILABLE IN DWS PERSONAL PENSION VARIABLE ANNUITYDWS Variable Series I(Class A)■■DWS Capital Growth VIP■■DWS Global Small CapGrowth VIPDWS Variable Series II(Class A)■■DWS Alternative AssetAllocation VIP■■DWS Dreman Small Mid CapValue VIP■■DWS Government & AgencySecurities VIP■■DWS High Income VIP■■DWS Large Cap Value VIP■■DWS Money Market VIP■■DWS Small Mid CapGrowth VIP■■DWS UnconstrainedIncome VIPTransamerica Series Trust(Initial Class)■■Transamerica Clarion GlobalReal Estate Securities VP■■Transamerica JPMorganCore Bond VP■■Transamerica MFSInternational Equity VP■■Transamerica Multi ManagedLarge Cap Core VP■■Transamerica PIMCO TotalReturn VPBefore investing, consider a variable annuity’s investment objectives, risks, charges, andexpenses. Call (855) 491-0751 or visit www.dws-investments.com/va for a prospectuscontaining this and other information. Please read it carefully.The investment options are subject to market fluctuation, investment risk, and possible loss of principal. The 5% growth rateapplies only to the Withdrawal Base (WB); it does not apply to policy value, optional death benefits, or other optional benefits.Growth does not apply in rider years in which a withdrawal is taken. The growth period will not reset with an automatic step-up.You must wait until the rider year after you turn age 59 to begin withdrawals permitted under the rider. If the rider is purchasedprior to age 59, however, the rider fee will still apply. On the maximum annuity commencement date, the rider terminates.By annuitizing the policy, you will have the option to receive lifetime payments that are no less than the rider withdrawal amount.Annuitization must generally occur by the annuitant’s age 95. The rider fee is deducted on each rider quarter in arrears.You have the right to reject an automatic step-up within 30 days following a rider anniversary, if the rider fee percentageincreases. If you reject an automatic step- up, you must notify us in a manner which is acceptable to us, however you are eligiblefor future automatic step-ups. Changes as a result of the automatic step-up feature will be reversed. Any increase in the rider feepercentage will also be reversed, and the WB will be set to the WB prior to the automatic step-up.If an excess withdrawal causes the policy value to reach zero, the rider and policy will terminate. Should your variable annuity’spolicy value fall to zero, you will receive payments equal to the rider withdrawal amount. Because the rider fee is a percentageof the WB, the amount of the fee will fluctuate as the WB increases or decreases. Even in the event your policy value declinessignificantly, the fee amount could be a much higher percentage of your policy value.Withdrawals of taxable amounts are subject to ordinary income taxes and, if taken prior to age 59½, a 10% federal taxpenalty may apply. For civil union partners, registered domestic partners, or other similar relationships as recognized by yourstate, please contact a qualified tax advisor prior to purchasing.There is an additional tax-deferral benefit derived from placing an IRA or other tax-qualified funds into an annuity. Featuresother than tax-deferral should be considered in the purchase of a qualified annuity.All policies, riders, and forms may vary by state, and may not be available in all states. RGMB 42 0511,RGMB 42 0511 (IS)(FL), RGMB 42 0511 (IJ)(FL), AV1114 101 185 104, AV1119 101 185 104, RGMB 42 0511(IS)(NY),RGMB 42 0511(IJ)(NY), AV1396 101 179 1003DWS Personal Pension Variable Annuity » 11

TERMINATIONThe Retirement Income Choice® 1.5 rider options will terminate upon the earliest of the following:• the date we receive written notice from you requesting termination of the rider if such notice is received by us during the 30 days followingthe fifth rider anniversary or every fifth rider anniversary thereafter;• the death of the annuitant (or if the joint life option was elected, the death of the annuitant’s spouse if that spouse continued the policy asthe surviving spouse);• annuitization (however, if you have reached your maximum annuity commencement date you may choose an annuitization option whichguarantees you lifetime payments in an amount equal to your rider withdrawal amount);• the date the policy to which this rider is attached is assigned or the owner is changed without our approval;• the date an excess withdrawal reduces your policy value to zero;• termination of your policy;• when the policy value is not invested in one of the designated allocation models.Please note: This rider terminates upon annuitization and there is a maximum annuity commencement date at which time your policy will beannuitized according to its terms. However, if you have reached your maximum annuity commencement date, we will allow you to annuitizeyour policy and elect to receive lifetime annuity payments which are at least equal to your rider withdrawal amount. Please contact us for moreinformation concerning your options.The DWS Personal Pension Variable Annuity should not be confused with a pension plan under The Employee Retirement Income Security Actof 1974, as amended (ERISA). Neither Transamerica nor any affiliates assume any fiduciary duties with regard to this annuity, as such terms aredefined under ERISA laws and regulations. The DWS Personal Pension Variable Annuity is not a defined benefit pension plan guaranteed by thePension Benefit Guaranty Corporation (PBGC) or any federal or state government agency. This annuity is not a corporate pension plan issued byus or our affiliates.(855) 491-0751OBTAIN A PROSPECTUSTo obtain a prospectus call us at (855) 491-0751. Before investing, you should carefully consider the variableannuity’s objectives’ risks, charges and expenses. The prospectus contains this and other important informationabout the annuity. Please read the prospectus carefully before you invest.Investment products offered throughDWS Investments Distributors, Inc. Advisoryservices offered through Deutsche InvestmentManagement Americas, Inc.DWS Investments is part of Deutsche Bank’sAsset Management division and, within the U.S.,represents the retail asset management activities ofDeutsche Bank AG, Deutsche Bank Trust CompanyAmericas, Deutsche Investment ManagementAmericas Inc. and DWS Trust Company.DWS Investments Distributors, Inc.222 South Riverside Plaza Chicago, IL 60606-5808www.dws-investments.com inquiry.info@dws.comTel (800) 621-1148C000000© 2012 DWS Investments Distributors, Inc. All rights reserved. PM123675 (3/12) R-21904-2 DPPVA-600