Money Purchase Investments
You may have Money Purchase benefits in the Scheme, as a result of being a member of the Money Purchase section and/or from making Additional Voluntary Contributions.
Members with Money Purchase benefits have an individual investment account. The amount that builds up in that account is directly dependent on the contributions paid in and the investment growth (net of fees) achieved. Although no further contributions can now be made, your Money Purchase benefits in the Scheme will remain invested until you decide to take your retirement benefits.
The majority of members with Money Purchase benefits in the Scheme are invested in a unit-linked fund managed by Legal and General. For further information on the Scheme's Legal and General arrangement, including the fund range offered, please visit: www.legalandgeneral.com/ccps
Some members of the Scheme still have Money Purchase benefits invested in a unit-linked fund with Utmost Life and Pensions (formerly Equitable Life). Further information about Utmost Life and Pensions funds can be found on their website: www.utmost.co.uk/pensions/pension-investment-fund-information/ (click on 'Heritage Equitable Life customers').
In addition, some members of the Scheme still have Money Purchase benefits invested in either a With-Profits or unit-linked fund with Clerical Medical, Scottish Widows or Aviva. Please see the document library for further details on these funds.
If your Money Purchase benefits in the Scheme are currently invested with Utmost Life and Pensions, Clerical Medical, Scottish Widows or Aviva, you have the option of transferring your savings to one of the investment funds managed by Legal & General. However, please be aware that if you are currently invested in a With-Profits fund with Clerical Medical or Scottish Widows, should you transfer away from the fund before your Normal Retirement Date you would lose any guarantees associated with the With-Profits fund. Please also note that the investment information contained on this website is for reference only, and is in no way meant to provide advice on which option is best for you. Before making any changes to your investments we recommend you seek independent financial advice.
Wherever your Money Purchase benefits are currently invested, you should receive an annual statement informing you about the fund(s) you are invested in and the value of your account(s).
Further information on the Scheme's Money Purchase benefits is set out in the annual Chair's Statement and the Statement of Investment Principles for the Money Purchase section, the latest versions of which can both be found at: https://pensioninformation.aon.com/cliffordchance.