14 June 2016

Changes to investment funds

Following an in-depth review of our fund proposition, we're going to be reducing the number of funds available through our Workplace pension schemes in the coming months. Some of our fund aims will also be changing due to the closure of the BNY Mellon CAPS survey.

Fund Rationalisation Project

Following an in-depth review, a number of funds currently available to members of our WorkSave Pension Plan and WorkSave Pension Trust schemes will be closed in October 2016.

We will begin writing to all affected members in the week commencing 20 June 2016, to make them aware of the fund closures and to outline the alternative fund(s) that they will be switched into, unless they tell us otherwise.

Employers with affected members have already been provided with more detailed information relating to these members.

For more information please contact your usual Legal & General representative.

BNY Mellon CAPS Pooled Pension Fund Survey

BNY Mellon have announced the closure of this survey from the end of June 2016. We used it within the aims for the following funds:

  • Legal & General (PMC) Consensus Index Fund
  • Legal & General (PMC) Overseas Equity Consensus Index Fund
  • Legal & General (PMC) Global Equity (70:30) Index Fund

As a result, we've had to change the aims for these funds. This will take effect from 31 July 2016. We've contacted the schemes and members affected by this change.