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The Property fund is temporarily suspended

Unfortunately, the NUKPF Property fund is currently unavailable. This means that we are unable to invest or disinvest any of our members’ pension savings into or out of the fund at the moment.

The Property fund is run by Legal and General Investment Management (LGIM) and they have temporarily suspended the fund due to the impact of Covid-19 on markets. This is a decision that we are seeing many property investment managers take across the UK, in line with their regulatory responsibilities.

Why are property investments suspended?

At the moment, it’s not possible to get independent property valuations, so the property investment managers do not have clear information about how much the fund is worth. Because of this, they have a responsibility to suspend these funds until they have access to more up-to-date information.

How long will the funds be suspended for?

We aren’t sure - it could be a temporary measure or it could last longer. This will all depend on when it’s possible to get independent property valuations again. We’ll update information here on the website as soon as we can when things change. In the meantime, LGIM, who runs the Property fund, is monitoring the situation and the markets very closely so that they’re able to start trading again as soon as it’s possible to do so.

What will happen to my pension savings if I usually invest in the Property fund?

While the Property fund remains closed any savings that would normally have been invested in it will be temporarily invested into the Cash fund. Once the markets have more certainty, and after the fund has re-opened, the pension savings that would have been invested into the Property fund during the time it was unavailable will be taken out of the Cash fund and re-invested in the Property fund.

Can I move my pension savings out of the Property fund?

No. While the Property fund is suspended it won’t be possible to disinvest any pension savings held there, or transfer them to a different fund (including the Lifetime Pathway fund).

Can I invest in the Property fund in the future?

Yes. If you were about to join the Nestlé UK Pension Fund or change your investment choices and were keen to invest in the Property fund, you can still choose to do so. However, we won’t be able to invest any of your pension savings in the Property fund until it is available again. Instead your savings will temporarily be invested in the Cash fund. Once the Property fund is available again, we will move the amount that was temporarily diverted to the Cash fund back into the Property fund.

Alternatively, while the Property fund is unavailable, you can choose to invest in a different self-select fund temporarily and switch your investments into the Property fund later on. Once the Property fund is available again we’ll notify you here on the website.

More details

If you’d like to read more about LGIM’s decision to suspend the Property fund, you can do so on Legal & General website.

Read more about the other self-select funds.

Get in touch

If you’d like to discuss your investment choices in more detail, please email the admin team pensions@uk.nestle.com

Our teams are currently working from home and don’t have access to the usual phone lines.

Thank you for your patience and understanding.