There are several additional contribution options available:

Matched Contributions (M Plan and Hybrid M Plan only)
Elect 1% or 2% Matched Contributions and the Company will match the contribution you elect. Matched Contributions are part of the You* flexible reward scheme and can only be elected during the annual You* elections. Find out more...

Additional Smart* Contributions (ASCs)
Elect ASCs and receive a 6% uplift from the Company. Matched Contributions are part of the You* flexible reward scheme and can only be elected during the annual You* elections. Find out more...

Additional Voluntary Contributions (AVCs)
Start or stop paying AVCs whenever you wish. You can pay a percentage of your salary, a fixed monthly amount or a one-off payment. Find out more...

If you are invested in Lifecycle or Lifecycle Plus, you can change your TRA by completing the Lifecycle/Lifecycle Plus form.

If you are invested in Lifestyle, you can change your TRA by completing the Lifestyle form.

Click on "Forms" above to access and complete the appropriate form to switch.

All switch requests submitted to Pensions Services before 1pm will be traded on the next working day (Monday to Friday, excliuding Bank Holidays).

Active employees can change their investment election for future contributions. Click on "Forms" above to access and complete the appropriate form to switch.

If you change the investment of any future contributions to a Freestyle fund, this won't change the investment of your existing Retirement Account.

What are the cut off dates for making a new investment election?

To apply your new investment election to your new contributions, you must submit your request before the cut off date.  The cut off dates are shown below:

To disinvest your existing funds with Friends Life and/or Equitable Life With-Profits funds to any of the Legal & General funds, complete the disinvestment form below.

Friends Life and/or Equitable Life Disinvestment form

Use the form on the Independent Financial Advisers page to find a local adviser.

Q. What is the cut off time for switch requests?

A. All switch requests submitted to Pensions Services before 1pm will be traded on the next working day (Monday to Friday, excliuding Bank Holidays).

Q. I'm an active employee and would like to change my investment election for future contributions, when is the cut off date for new investment elections?

A. To apply your new investment election to your new contributions, you must submit your request before the cut off date. The cut off dates are shown below:

Q. What are the switching costs?

A. For the switch of funds on an individual basis, L&G operate a pricing policy known as "daily swing pricing" so the actual trading costs incurred on any one day for any specific fund depends on the total level of net cash inflows or outflows in that fund across all clients.  If the inflows and outflows are equal the trade price is struck at "mid" which means no spread is incurred. If the cash flow is net positive the price will be struck at offer (the higher price) and if it is net negative the price will be struck at bid (the lower price). Everybody (all L&G clients in those funds) then buys or sells at that set price.  As there is no way of being able to predetermine these cash flows one can't predict in advance the cost of any trade. No fees are taken by L&G.

Q. When will the funds that are 'Targeted for Closure' be closed? 

A. During the recent review by the Trustee of the investment options, some of the existing funds were identified as probable targets for closure in future.  The reason for this was that the new range of investment options offers the member the ability to replicate the same or similar type of investments without the need for these funds to remain open.  There is no specific date for this in mind, and members will be advised as soon as possible once any specific closure date is identified.  When this happens members will be given sufficient advance notice to elect to transfer their holdings to another fund(s) of their choosing.  If the member makes no election then the full value of their units in these funds will be transferred from the existing funds into an equivalent new fund or combination of funds selected by the Trustee.