The Property fund is available again
We are pleased to tell you that the NUKPF Property fund is now available again. This means that you will be able to invest and disinvest your savings into and out of the Property fund again.
In April we wrote to all affected members to tell them that the Property fund - run by Legal and General Investment Management (LGIM) was temporarily suspended due to the impact of Covid-19 on markets. It was a decision that we saw many property investment managers take across the UK, in line with their regulatory responsibilities.
You’ll soon be receiving another letter which will explain what happens next. As a quick reminder, here’s what happened to your savings while the Property fund was suspended:
- Your savings were temporarily diverted to cash
While the Property fund was suspended, we made the decision to temporarily divert any savings that you would have made to the Property fund into the Cash fund until the Property fund was available again. And we told you that once the Property fund was available again, the pension savings that you would have made to the Property fund during this time would be taken out of the Cash fund and re-invested in the Property fund.
- Or you may have chosen to divert your savings to a different self-select fund
We also gave you the option to temporarily divert your savings to another one of our self-select funds if you wanted to.
What happens next?
Once the Property fund is available again, we will:
- Start re-investing your savings in the Property fund from cash
Unless you instructed us to divert your savings to a different fund, we will start re-investing the savings that you temporarily made to the Cash fund (rather than the Property fund) once the Property fund is available again.
- Or, start re-investing your savings from the other self-select fund that you chose
If you decided to temporarily divert the savings that you would have made to the Property fund to a different self-select fund, we will start re-investing the savings that you temporarily made to that self-select fund once the Property fund is available again.
- Your future contributions will also be invested in the Property fund
From 1st October 2020, we will also start investing your future savings in the Property fund (as you had done before).
- We’ll write to you to confirm what’s happened
Then, we’ll write to you with a summary of all your investments that shows your up-to-date values and investment choices.
If you’d like to make changes to your investments
If you’d like to make any further changes to where your pension savings are invested, you can go to the ‘Find a form or document’ section of the website or request one from Nestlé Pensions using the contact details below.
LGIM provide more detail about their decision to re-open the Property fund on their website.
Get in touch
If you’d like to discuss your investment choices in more detail, please email the admin team at firstname.lastname@example.org or call the helpline on 0208 667 6363.