What do you need to do?
We received the second capital payment from M&G on 9 May 2024 and are now calculating your share of the money and paying it into your policy.
- If you or your adviser already told us which fund you would like to invest the capital payments from M&G into, then we're paying it into that fund and no further action is needed.
- If we didn't get an instruction from you or your adviser, we're paying it into the Phoenix Wealth Legal & General Property fund.
If you wish to switch to a different fund, then 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:
For non self-invested policies
- Please send us your instruction by email to drawdown@phoenixwealth.co.uk or write to us at Phoenix Wealth, PO Box 1393, Peterborough, PE2 2TP.
For self-invested policies
- Please write out your instructions specifically stating that you'd like us to pay your share of the M&G Property Portfolio fund sale proceeds into the [full name of the fund of your choice].
- Please include your policy number. Sign your instructions, then scan and email them to isd@sipp-phoenixwealth.co.uk
We strongly recommend that you discuss this with your financial adviser who will be able to review your investments and advise you. If you don’t have an adviser you can find one by visiting Unbiased.
What happens next?
We will continue to update this ‘News and views’ section of our website, as and when M&G release further payments. Please check back regularly for any further updates.
Where can I find out more?
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Fund research: you can find details of alternative funds and the Phoenix Wealth Legal & General Property 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 5.30pm, Monday to Friday.