The basics

• The Portfolio Plus Trustee Investment Plan is available to trustees of UK approved occupational pension schemes and self invested personal pension plans that permit investment in insurance policies.
• It is a single premium investment policy, which gives access to over 300 investment funds from more than 40 fund managers, through a Legal & General Insurance policy.
• It aims to give pension scheme trustees/administrators and members the opportunity to diversify their investment strategy with the aim of increasing the value of their benefits.
• Investment can be made in up to 10 different funds at any time, and switches made between funds.
• The policy has a minimum term of five years, but does not have a maturity date.

The value of units that make up your policy can go down as well as up, so the returns you receive are not guaranteed and you could get back less than was originally invested.  Please view the other risk factors associated with this product.

Your options

• The current minimum investment is £25,000 with a maximum of 9 additional lump sum investments which can be made at any time (subject to a minimum of £10,000 per investment).
• Charges are made to cover the various costs and expenses involved when setting up and managing the policy such as;
  • Administration
  • Payments to the financial adviser
  • The investment management costs and expenses of investing in and holding assets.
• All or part of the investment may be surrendered at any time. The minimum amount which may be surrendered is £1,000 (gross of charges) and the value of the units that remain invested must be at least £10,000.
• Partial surrenders of up to 10% of the policy’s value in a scheme year may be made without incurring an early surrender charge.  If an amount is surrendered in excess of this amount then a charge will be made.

Risk factors

All investments carry an element of risk. Please bear these points in mind:

• What you get back at any time will depend on the investment performance of the assets that make up your chosen fund(s).  The value of units that make up your policy can go down as well as up.  The returns you will receive are not guaranteed and you could get back less than you originally invested.
• The fund or funds you choose to invest in will have specific risks.  These risks are described in the booklet Portfolio Plus Funds Guide PDF.
• If you invest in a fund that invests in property, it may be necessary to defer encashment of units during periods when property is not easily sold.  The maximum delay is six months.  The value of property is generally a matter of the valuer’s opinion rather than fact.
• Different funds have different levels of charges.  If funds are switched at some point in the future, higher charges may be paid, which in turn, may affect the benefits payable from the policy.
• The law and tax rates may change in the future.
• Past performance is not an indicator of future performance.
• We can increase our charges but we will let you know before we make any change.
• If you cash the investment in and a surrender charge is applicable, the value of the policy will be reduced.