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List of policy types and impact on future payments

Any other products you may hold with us, and any part of your payments that may be invested in unit-linked funds, will not be affected by these changes and will continue as usual.

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Premium type - Contractual

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Policy typeImpact of the proposed merger on future payments

Annuity Section 226
B1MR: Child Bond
B1MS: Child Bond (LSFP)
B1TR: Child Bond Top-up
B1TS: Child Bond Top-up (LSFP)
Bonus ISA
Free Standing AVC Plan
G1MR: Scottish Bond
G1MS: Scottish Bond
G1TR: Scottish Bond Top-up
G1TS: Scottish Bond Top-up (LSFP)
Growth & Income Bond
Growth & Security Bond
LANMAS ISA
Low Cost Endowment Assurance
Min Contribution Personal Pension Plan
Money Builder
Mutual Investment Bond
My Mutual Guaranteed Over 50s
My Sovereign (ISA)
OB Whole of Life Assurance (B3)
Personal Pension Plan
Personal Pension Plan (Protected Rights)
Personal Pension Plan (ULPP)
Pioneer Endowment
Pioneer Whole of Life
Prosperity Savings Plan
Recurring Endowment 10yrs
Recurring Endowment Assurance
Regular Savings Plan (Tax-Free Account)
Regular Savings Plan (Tax-Paid Account)
Regular Savings Plan (Under 16)
Retirement Annuity
Scottish Bond Plus
Scottish Bond Plus
SF Group Personal Pension Scheme
Supporter Bond
Supporter Bond Under 16
Tax Free and Friendly Bond (Tax-Free Account)
Tax Free and Friendly Bond (Tax-Paid Account)
Tax Free Family Savings Plan
The Friendly Bonus Bond
The Friendly Bonus Bond (Lump Sum)
The Friendly Children's Bonus Bond (Lump Sum)
The Friendly Childrens Bonus Bond
Whole of Life Assurance (OB)
Whole of Life Assurance (Single)

Following the merger, any future payments made to these policies will be paid into a new, closed with-profits fund called the “SFAS sub-fund”.

Premium type - Non-contractual

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Policy typeImpact of the proposed merger on future payments

Junior ISA
LANMAS Capital Investment Bond
My Choice (ISA)
My Choice (Junior ISA)
My Easy Choice (ISA)
My Easy Select (Junior ISA)
My MoneyBuilder (ISA)
My MoneyBuilder Select (ISA)
My Moneymaker (ISA)
My Prosperity (ISA)
My Smarter (ISA)

Any future payments to these policies will no longer be allocated to the with-profits fund and will instead be invested in the default fund shown below.

We have chosen this to be the closest match to the existing with-profits fund, in terms of the assets that it invests in and the level of risk taken.

Default fund
Mixed Asset: Balanced Fund

Fund objective
The Mixed Asset: Balanced Fund predominately invests in one or more funds which are managed by Schroders.

The Fund is designed to provide long term capital growth and income, together with a low to moderate level of investment risk. The fund invests, either directly or indirectly, in a diversified portfolio of fixed interest securities, equities, alternatives, and property. The portfolio will be actively managed relative to its designated benchmark and seeks to outperform its benchmark through active stock selection and asset allocation.

The portfolio is designed to participate in the ABI Mixed Investment 20-60% shares peer group. 

As with all investments, there is risk with investing and the value of your investments may fall as well as rise, however these are not guaranteed, therefore you may get back less than has been paid in.

Click on the link below to go back to important documents for With-Profits customers​.

Important documents for With-Profits customers​