The sale of the Family Suntrust product will happen through an Asset Purchase which means members will not need to take any action. Their plans will continue to operate exactly as it does today, with no changes to:
• Their pension benefits and key terms of their Scheme.
• The fee structure for their Scheme.
• Their current investments and how they are held.
• Any regular contributions or benefit payments they already have in place.
• Their ability to access benefits as they can today.
• The service they receive today.
What happens next?
Once the Asset Purchase is ready to complete we’ll write to members to let them know what will happen and when. We’ll also share the planned completion date and any other important details.
Why is this happening?
We believe that, going forward, the Family Suntrust product is best supported by a specialist provider with a core focus on the operation and administration of family trust pensions.
Where can I get more information?
We have produced a questions and answers document to answer any queries you may have. You may also call us on 0345 034 2170. Our lines are open from 8.30am to 5.30pm, Monday to Friday. As part of our commitment to quality service and security telephone calls may be recorded.