Recent fund changes

July 2016

We have recently made some changes to the assets the RLP Adventurous Managed, RLP Defensive Managed & RLP Managed pension funds can invest in.

What's changed?

We've changed the mix of investments in the Managed funds by introducing some new asset types;

• absolute return strategies including cash,
• commodities,
• high yield bonds, and
• gilts.

You can find more information about these asset types at Fund Information.

These changes also apply if you're invested in a lifestyle strategy which uses the Managed funds to plot your route to retirement.

The changes haven't affected your annual management charge.

Why did we make these changes?

The Managed funds have ongoing governance and were recently reviewed by our investment experts.

Assets perform differently, if one type is falling, others may be rising. We've added these asset types to the funds to create a broader and more diverse mix. The aim of this is to make the funds more resilient to any sudden shocks in the market.

For more information on asset types and the investment options offered by Royal London, please see A Clear and Simple Guide - Pension Investment Options or visit Fund Information.

What do you need to do?

There is no need for you to take any action at this stage; all of the changes have been made automatically. However, if you wish to do so, you can choose another investment option available to you under your plan. Full details of these can be found at Fund Information or on request.

Financial advice is really important when it comes to making any investment decisions about your retirement savings and planning for your future retirement. Although you don't need to take any action as a result of this change, you should contact your financial adviser, rather than Royal London, if you want investment advice on this matter.

If you don't have an adviser you can find details of advisers in your area by visiting unbiased.co.uk/find-an-ifa. Please note that advisers may charge for providing advice and you should confirm any costs beforehand.

Further information

If you have any general queries relating to your policy, then please call our Customer Service team on 0345 60 50 050.