Brentwood - London

Section A

Pre-December 2019 AVC range

Our AVC range changed on 2 December 2019

The following AVC funds are no longer accepting contributions or switches in from other BTPS AVCs. The funds you have already built up will remain invested in these funds. If you wish to switch your AVC funds to one of the Standard Life options listed on the AVC investment options page, you can do so using the Pension portal.

BlackRock UK Equity Index Fund

This fund aims to achieve capital growth for investors over the long-term by tracking closely the performance of the FTSE All Share Index, a market capitalisation weighted index of common stocks of companies listed in the UK.

There is a total annual charge of 0.42% a year, deducted on a monthly basis from your accumulated fund.

You can download the factsheet for this fund here.

BlackRock Global Equity Fund

This fund aims to achieve capital growth for investors over the long-term by investing in shares of UK and overseas companies. The fund consists of two equally weighted sleeves – one closely tracks performance of the FTSE All Share Index, whilst the other looks to outperform a market capitalisation weighted index of common stocks of companies listed in other developed countries.

 There is a total annual charge of 0.71% a year, deducted on a monthly basis from your accumulated fund.

You can download the factsheet for this fund here.

Utmost Life and Pensions Managed Fund (formerly Equitable Life Managed Fund)

All funds in the Equitable Life Managed Fund were transferred to the Utmost Life and Pensions Managed Fund on 1 January 2020. Investments in the Managed Fund are predominantly invested in a mix of UK and overseas equities with the remainder invested in money markets and fixed interest.  

There is a total annual charge of 0.75% a year, deducted on a monthly basis from your accumulated fund.

Please note: The BTPS Trustee intends to transfer all BTPS member AVC funds from the Utmost Life and Pensions Managed Fund across to the Standard Life Passive Plus III Fund during 2020. We will write to you before this happens. You will be able to switch your funds to an alternative AVC fund if you prefer.

Utmost Life and Pensions Secure Cash Investment (formerly Equitable Life With-Profits Fund)

Funds in the Equitable Life With-Profits Fund were enhanced and transferred to the Utmost Life and Pensions Secure Cash Investment on 1 January 2020.

Please see Utmost Life and Pensions website https://www.utmost.co.uk/equitable-life/equitable-pension for more details.

Please note: The BTPS Trustee intends to transfer all BTPS member AVC funds from the Utmost Life and Pensions Secure Cash Investment into the Standard Life Deposit and Treasury Fund during 2020. We will write to you before this happens. You will be able to switch your funds to an alternative AVC fund if you prefer.

LGIM UK Equity Index Fund

This fund aims to capture the returns of the UK equity market. It tracks the FTSE All-Share Index and invests primarily in UK equities.

There is a total annual charge of 0.41% a year, deducted on a monthly basis from your accumulated fund.

You can download the factsheet for this fund here.

LGIM Global Equity Fixed Weights (50:50) Index Fund

This fund provides access to the UK and overseas equity markets via index tracking funds and aims to capture global equity market returns. It is invested broadly 50% in UK equities and 50% in overseas equities.

There is a total annual charge of 0.48% a year, deducted on a monthly basis from your accumulated fund.

You can download the factsheet for this fund here.

Standard Life With-Profits Fund

This unitised with-profits fund invests in a wide spread of UK and overseas shares, property holdings and government and corporate bonds. Bonuses are paid, usually in February, according to current investment conditions. When benefits are paid a terminal bonus in respect of returns and profits not already taken into account may be paid. It should be remembered that the terminal bonus is subject to the insurer’s continued solvency and the amount may fluctuate with the underlying asset performance.

Charges for administration expenses, investment management and the cost of guarantees are not taken directly from the fund but are taken account of before any bonuses are paid.

You can download the factsheet for this fund here.

Please note that if you switch from the Standard Life with-profits fund, you may be giving up valuable guarantees. A guide to Standard Life’s with-profits funds is available here.

The total annual charges quoted are made up of an annual management charge (AMC) and variable expenses, less any discount negotiated for BTPS members. Charges are not fixed and can go up or down over time.