After the property funds were suspended in March, we paid any regular contributions that were intended for them into cash funds instead. This was a temporary measure. We do not believe cash is suitable as a long-term investment because, although its monetary value is unlikely to fall, inflation will erode its real value.
We are now redirecting future contributions into funds that are more appropriate as long-term holdings. Money that has built up in cash funds since the suspension of property funds is also being moved into these alternative funds. The fund that has been chosen to take contributions originally intended for property funds will vary from plan to plan. If you would like to know which fund your own plan is using, please log in to PlanViewer.
We are making these changes in stages and expect to complete them by mid-October 2020. For each plan, we should be able to make the changes within a day, so there will be no interruption to the services available from PlanViewer.
If we make any changes to your contribution instructions or your cash investments, we will write to you afterwards with full details. Please note that this work will not have any impact on money that was invested in property funds before they were suspended.
Of course, you also have the option of changing the way your contributions are invested yourself. The easiest way to do this is to log in to PlanViewer – go to ‘Manage my plan’ at the top of the page and choose ‘Change investments’.