What do you need to do?
When we receive a payment from Aviva, we'll calculate your share of the money and will pay it into your policy. To do that, we need you or your adviser to tell us which fund you would like us to invest these payments into as soon as possible. Your adviser will know how to send us your instructions.
If you don't have an adviser, here's what you'll need to do:
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For self-invested policies: please write out your instructions specifically stating that you'd like us to pay your portions of the payments from the Aviva Investors Property fund into the [full name of the fund of your choice]. Please include your policy number. You'll then need to sign your instructions, scan and email them to isd@sipp-phoenixwealth.co.uk
If you
(or your adviser) have already advised us of a new instruction for where to
invest the capital payments from Aviva, then we will pay it into that fund and
no further action is needed. If we don’t get an instruction from you or
your adviser, we will pay it into the Phoenix Wealth Money Market fund.
What happens next?
We will continue to update this 'News and views' section of our website, as and when Aviva release further investments. Please check back regularly for any further updates.
Where can I find out more?
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Take a look at our Q&As: covering all the key questions we are getting on this topic. You can download them here.
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Fund research: you can find details of alternative funds and the Phoenix Wealth Money Market fund, including performance and a factsheet through our fund information centre.
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Your existing fund portfolios: you can view the funds you're invested in online. To do this, you'll need to be registered for our online services. Registering is easy - for non self-invested policies, just visit our registration page here.
You can also contact us - we're here from 8.30am to 5pm, Monday to Friday.
We strongly recommend that you discuss the fund closure with your financial adviser who will be able to review your investments and advise you. In particular, we'd like to highlight that you should get financial advice on what to do with the capital distributions and ensure that you're aware of the risks of staying invested in a cash (money market) fund - which mean it may not be suitable for long term investment. If you don't have an adviser, you can find one by visiting Unbiased.