• We're making some changes as we continue to build Phoenix Wealth

    We started implementing these changes after Friday 16 March, but we will update this page regularly as we progress our systems work. Please add this page to your favourites and come back regularly for the latest news.

     

     

    Page last updated Friday 23 April at 8.30am
  • Important information

    We’re continuing to integrate AXA Wealth into our new Phoenix Wealth business, and so you may have started to see some more changes related to this activity. These include:

    • Systems changes and planned downtime - which we expect to make us better able to support you flexibly and quickly in the longer term. As we implement these systems, there will unavoidably be some disruption to our services, so please bear with us during this phase.
    • Administrative changes - such as changes to some of our postal and email addresses.

    From 23 April we're also making some changes to:

    • Terms and conditions - change of Scheme Operator on The Retirement Wealth Account (self-invested option) to reflect our new ownership, and change of banking structure on Family Suntrust to bring it in line with the rest of our Phoenix Wealth products.

    Please take look through the table of changes lower down on this page so that you’re ready for any action you or your clients need to take – and in particular, take note of our downtime period so you can plan any activity within our cut off times.

    As some of these changes are driven by our systems work, we may need to make some last minute tweaks so we will keep this webpage updated with the latest news. We will also add more detail about future changes closer to when they will take effect.

    To make it easier for you to know if any information has changed, please check the ‘page last updated on’ date at the top of this webpage. Please also add this page to your favourites and check it before you speak with clients.

    We wrote to all clients on 7 March 2018 to explain the work we are doing and let them know that changes are coming. There are some further changes impacting The Retirement Wealth Account (self-invested option) and Family Suntrust clients and so we will write to those affected on 20 April.

    In each of the letters, we ask clients to visit a dedicated webpage like this one but which details the changes that are relevant to their products, system downtime, and any up to the minute news.

    These webpages are the quickest way for your clients to access up to date information, so we’ve also asked them to check them regularly. However, if a client doesn’t have access to the internet they can call us on 0345 129 9993 or 0345 034 2170 (Family Suntrust) between 8.30am – 5.30pm Monday to Friday and we can give them the information they need.

    Take a look at the client letters – you’ll be able to access each product-specific client webpage by clicking the link in each client letter:

    Letters being posted on 20 April

    Letters sent on 7 March

  • The changes in detail




    Type of change
    Period affected
    What's changing? What you need to do
    Terms and conditions changes - The Retirement Wealth Account (self-invested policies only)            
    Changes to Scheme Operator      
    New: added on 20 April        
    From Monday 23 April  The Scheme Operator will change from Elevate Portfolio Services Limited to Phoenix Life Limited.  This change will not affect the operation of your clients’ policies in any way. You and your clients will simply see reference to Phoenix Life Limited in future correspondence and in the terms and conditions, which we’ve updated to reflect this change.  You don’t need to take any action. If you’d like to download a revised copy of the terms and conditions, updated to reflect this change, it will be available on or after 23 April from our literature library. 
     
    Terms and conditions changes - Family Suntrust (FST)            
    Change to bank account structure        New: added on 20 April        
    From Monday 23 April

    To avoid passing increased banking charges on to scheme members we are making a change to our FST banking structure.  Currently each scheme has its own bank account, which in future would have incurred additional banking costs. From 23 April however, scheme monies will be held in a pooled trustee bank account with NatWest which will save scheme members from these additional costs.   Your scheme’s monies will be separately identifiable within this account.  This also brings Family Suntrust in line with all our other Phoenix Wealth products. 

    In addition cash in the pooled trustee bank account will be moved daily to a pooled trustee deposit bank account with the Bank of Scotland to maximise the interest payable for scheme members.
         
    You don’t need to take any action. If you’d like to download a revised copy of the terms and conditions, updated to reflect this change, it will be available on or after 23 April from our literature library.
    Administrative and systems changes - The Retirement Wealth Account (self-invested policies only)             
    Change of bank account details         New: added on 20 April      
     
    From Monday 23 April

    The details for the deposit account held with NatWest bank are changing on 23 April: 

    • Account name: PWTS - RWA Collections
    • Account number: 39405605
    • Sort code: 60-00-01

    Please remind your clients to use the new bank account details to make top ups or additional payments from this date.

     
    New policy numbers     
    New: added on 20 April        
    From Monday 23 April

    We’ll be referencing new policy numbers on all correspondence after this date. 

         

    Please take a note of your clients’ new policy numbers.

    N.B. we can still reference your client’s information using the current policy number, should you need to use it at any time. 
    Administrative and system changes - Family Suntrust            
    Change of bank account details         New: added on 20 April        
    From Monday 23 April

    The details for the collections account are changing on 23 April:

    • Account name: PWTS - FST Collections account
    • Account number: 48711993
    • Sort code: 60-00-01     

    Please remind your clients to use the new bank account details to make top ups or additional payments from this date. If you’d like to download a revised copy of the terms and conditions, updated to reflect this change, it will be available on or after 23 April from our literature library.

     
    New scheme numbers      
    New: added on 20 April        
    From Monday 23 April
    We’ll be issuing new scheme numbers and these will be used on all correspondence after this date.       

    Please take a note of your clients’ new scheme numbers.

      N.B. we can still reference your client’s information using the current scheme number, should you need to use it at any time. 
    Generic administrative and systems changes            
       

    Online services reduced functionality


    Ongoing      

    From 3pm Tuesday 20 March until further notice

    Online functionality is temporarily limited. Also, online services for self-invested policies are temporarily suspended whilst we complete our systems work. We are sorry for the inconvenience this may cause in the short term.

    We’re working on bringing these services back as quickly as possible and will keep you updated. 

    If you need to:

    • Trading instructions:
      For self-invested policies, please call us on 0345 671 5507, or email us instead at:
      ISD@SIPP-phoenixwealth.co.uk

      For all other policies, you can send us switch instructions in the following ways:

      - By fax to: 01733 472352
      - By post to: Phoenix Wealth, Unit Linked Life & Pensions, PO Box 1393, Peterborough, PE2 2TP

    • Add member contributions: you can send us an application form by post using the details above.
    Our friendly team is here to help you between 8.30am-5.30pm Monday to Friday. Our trading desk, for self-invested policies only, continues to be available between 9am and 5pm.
       

    Online Quotes (OLQ) suspended


    Ongoing        
    From 5.30pm Friday 16 March


    We’ve removed this service from the website. We plan to bring it back at a later date and will keep you informed.

    If you’d like illustrations for transfers in, top ups or starting or changing regular contributions, please call us on 0345 129 9993 or email us at:

    Literature updates Now Live     
    From 10am Thursday 22 March

    Where relevant, our literature has been updated to reflect the changes listed on this page and is now available from this website.

    Please ensure you are using the latest literature by accessing it from this site whenever you need it.
       

    Our email addresses

    Now Live    
    From Monday 19 March

    Some of our email addresses have changed:

    Please make a note of the new email addresses.

       

    Our postal addresses

    Now Live        
    From Saturday 17 March
    The addresses that you use to write to us have changed:

    • For self-invested policies and Family Suntrust
      Phoenix Wealth, Self-invested Pensions, PO Box 1394, Peterborough, PE2 2TQ
    • For all other policies
      Phoenix Wealth, Unit Linked Life & Pensions, PO Box 1393, Peterborough, PE2 2TP

    This is purely an administrative change – our customer service teams continue to be based in Basingstoke, Hampshire.

    Please make a note of our new addresses.

    Should you use our old postal address, post will still reach us, however there will be a day's delay. The same applies if you use our new address details before this date.

    Administrative and systems changes - the Retirement Wealth Account (self-invested policies only)  
       

    Change to PAYE employer reference numbers

    Ongoing   
    Date to be confirmed
               
    You will see a new PAYE employer reference number on payslips or P60 end of year certificates that you receive from us.
    This is purely an administrative change to the employer reference under which income tax is collected via PAYE. We’ve informed HMRC so there should be no effect on your clients’ tax position and they do not need to take any action.
    Adviser remuneration statements      
    Ongoing        
    From Monday 19 March  

    Temporarily, we will send you printed statements through the post for any adviser remuneration payments made on self-invested policies. If you receive remuneration on other types of policies, you’ll continue to be able to see these in the usual statement through online services.

    We are sorry for any inconvenience this may cause in the short term. We will be working on making these statements available online again as quickly as possible and will keep you updated.     
     
  • Please get in touch if you need any support with the above changes. We are here between 8.30am and 5.30pm, Monday to Friday.