When will the Property Funds suspension be lifted?The fund managers aim to lift the suspension as soon as confidence returns to the markets and there is more certainty regarding asset valuation, taking into account the best interests of customers and investors.
Which funds are affected?
Life property funds
Countrywide PS Property
Countrywide Global Property S3 Ini
Countrywide Global Property S3 Premium
Countrywide Global Property S4 Ini
Countrywide Global Property S4 Premium
CWA GLOBAL Prop S6
CWA GLOBAL Prop S7
CWA PROP SERIES 1
Countrywide CW Property
CWA Prop OLD SERIES
CWA SOCIETY Prop
Countrywide Universal Property Premium
Pension property funds
Countrywide PS Property Pn
S&P Property Pn
Countrywide Property Pn S2 I
Countrywide Property Pn S2 P
Countrywide Property Pn S3 I
Countrywide Property Pn S3 P
Countrywide Property Pn S4 I
Countrywide Property Pn S4 P
Countrywide Property Pn S5 I
Countrywide Property Pn S5 P
Now that activity on your Property fund has been suspended, how long can you delay switch requests?The Terms & Conditions allow for switches and payments out to be delayed for up to 6 months.
What happens / what will you do if the suspension hasn’t been lifted after this 6 month period?A decision will be made closer to the time and all policyholders will be advised.
Fund switch: Which rate date will I get - the rate at the date I requested to switch or the rate at the date you resume switching?You will receive the rate immediately after the restriction has been removed.
How often will you review the situation?We will keep this under continuous review and will remove the restriction as soon as we can do so and ensure that all customers are treated fairly.
If I have a fund switch pending, will you process it automatically when you allow switching, or will you contact me beforehand to ask me if I still want to proceed with the switch?Once the restriction has been removed, we will contact you to confirm that you still wish to proceed with your switch.
Will any delay on switching out also affect my plan for retirement / surrender / maturity / transfer out?Yes, we will be unable to make any payment out or fund switch until the restriction has been removed.
If this transaction suspension prevents me from vesting my pension, will you compensate me if this delay means I lose a Guaranteed Annuity Rate? Or will you honour the Guaranteed Annuity Rate even if it has expired during the ban?We will honour the Guaranteed Annuity Rate entitlement if you take the benefits once the restriction has been removed.
Can I switch out of the fund?No – But you can redirect your future premiums into another fund.
A person named on the policy has sadly passed away, will this delay my claim?No – Death claims will continue to be processed as normal.