Pension news

Changes to your investment options are now under way

04 April 2018


We recently advised that the Trustee of The Pearson Pension Plan (the Plan) has decided to make some enhancements to the investment options for anyone who is a defined contribution (DC) member or has additional voluntary contributions (AVCs) invested in the Plan.

Changes to the investment options will start from 4 April 2018. As a result, members will not be able to make any investment changes or access the Aviva membersite between now and the week commencing 8 May 2018. In addition, we will not be able to accept instructions to switch or redirect any investments until after 8 May.

During this period the following changes will take place:

The introduction of three new lifecycle options which will invest in a way which best meets different retirement options. Please note that your choice of lifecycle will not restrict your options at retirement:

  • Drawdown lifecycle – designed for members who may wish to transfer out of the Plan at retirement, so that they can draw down income from their Pension Pot while it continues to remain invested.
  • Annuity lifecycle – designed for members who may wish to take a pension (also called an annuity) and possibly tax-free cash at retirement.
  • Cash lifecycle – designed for members who may wish to take their Pension Pot as a taxable lump sum at retirement.

Changes to the self-select investment funds
  • These will provide greater flexibility to meet individual needs for members who prefer to select their own investments.
Lower charges from Aviva
  • There will be a reduction in annual management charges for most investment options.
Shortly after 8 May 2018, members will receive an email confirming that their savings have been moved into the new investment funds.

To find out more information about the investment changes, please visit our investment change webpage.

Please bear with us while we make these changes. If you have any questions about your benefits in the Plan, please contact the pensions helpline:

freephone: 0800 7811378
web: the contact us page