Due to the current uncertainty around the coronavirus, Legal & General and ReAssure have delayed the proposed 6 April 2020 transfer of the Portfolio Plus Self-invested Personal Pension (SIPP) and Portfolio Plus Pension. The changes included in our February 2020 letter below will only come into effect at the point the transfer goes through. Until transfer, the current Legal & General SIPP supplement is still in place. As soon as the new transfer date is confirmed ReAssure will issue you with a welcome pack confirming the details. Until the transfer, please contact Legal & General with any queries about your Portfolio Plus Pension and Portfolio Plus SIPP. You can find regular updates including contact details on the Legal & General website

In May 2019, we issued letters to inform you we'd no longer offer services for the Legal & General Portfolio Bond or insured funds (for more information on what we mean by insured funds view our Questions and answers document) within the Legal & General Portfolio Plus Pension and Legal & General Portfolio Plus Self-invested Personal Pension (SIPP) through the Aegon Platform. 

In September 2019, we may have issued you with a valuation for your Portfolio Bond and/or insured funds within the Portfolio Plus Pension and SIPP.

In February 2020, we're issuing letters to provide you with details around the proposed transfer of the Legal & General Portfolio Plus Pension and SIPP to ReAssure.

You can find supporting documents including copies of the letters as well as questions and answers in the corresponding sections below. 

1. Proposed transfer to ReAssure for Legal & General products 

2. Valuation for Legal & General products on 30 June 2019 and calculation of the annual platform charge

3. Legal & General product removal from the Aegon Platform

Key dates

Date Activity
May 2019 Letters issued notifying changes to Legal & General Portfolio Bond and insured funds in the Portfolio Plus SIPP and Pension
22 June 2019 Removal of the Legal & General products from the Aegon Platform
30 June 2019 Fixed valuation point is set for Aegon Platform annual charge calculation
01 July 2019 New terms and conditions effective for the Legal & General Portfolio Plus SIPP and Pension
September 2019 Customer letters issued providing you with valuation changes from 30 June 2019
February 2020 Customer letters issued notifiying the anticipated transfer of the Legal & General Portfolio Plus SIPP and Pension to ReAssure on 6 April 2020

1. Proposed transfer to ReAssure for Legal & General products

Legal & General wrote to you in July 2019 to tell you that they're proposing to transfer the Portfolio Plus Pension and Portfolio Plus SIPP to ReAssure, if you held a Portfolio Plus SIPP on the Aegon Platform. 

We've now heard that the proposed date for the transfer to take place is 6 April 2020 and we've sent you a letter in February with details around what this means for you. 

At the point the proposed transfer takes place, the following applies:

  • You can continue to manage assets in your SIPP on the Aegon Platform and we'll change the product name displayed on the Aegon Platform to ReAssure Portfolio Plus SIPP after the transfer.
  • Legal & General have notified you of a change to the pension terms and conditions which means that we'll be able to take the Aegon Platform annual charge directly from your ReAssure Portfolio Plus SIPP. 
  • A new ReAssure Portfolio Plus Pension and SIPP supplement to the Aegon Platform Terms and Conditions will apply.

Any other holdings or products you hold on the Aegon Platform aren't affected by these changes.

Questions and Answers

How confident are you that the transfer from Legal & General to ReAssure will complete on the proposed date?

All parties are working hard to achieve the transfer on 6 April 2020. Ahead of the transfer taking place ReAssure will issue you with a welcome pack confirming the actual date of the transfer.

Who do I contact for general enquiries about the transfer from Legal & General to ReAssure?

We’re not able to answer any queries about the transfer from Legal & General to ReAssure. If you have any queries, please contact Legal & General on their Policy Transfer Helpline on 0800 048 1026 (UK-Freephone) or +44 1273 374130 (International calls). Call charges will vary. Alternatively you can find more information at Legal & General's policy transfer website.

Who do I contact for queries relating to my Portfolio Plus SIPP and Portfolio Plus Pension before the proposed transfer?

Continue to contact Legal & General for all queries relating to your Legal & General Portfolio Plus Pension and Portfolio Plus SIPP, including cheques for any additional contributions.

Legal & General Assurance Society Limited

PO Box 5457

Hove

East Sussex

BN52 9GG

Telephone number: 0345 026 0003

Overseas telephone number: +44 127 337 2018

(Monday to Friday 9.00am to 5.00pm. Call charges will vary.)

You can find additional contact details on Legal & General's website

Who do I contact for queries relating to my Portfolio Plus SIPP and Portfolio Plus Pension after the proposed transfer?

Contact ReAssure for all queries relating to your ReAssure Portfolio Plus SIPP and ReAssure Portfolio Plus Pension, including cheques for any additional contributions. 

ReAssure SIPP

2nd Floor, Fitzalan House

Fitzalan Court

Fitzalan Road

Cardiff

CF24 0EL

You can call ReAssure on 0345 646 0381 (Monday to Friday 8:30am to 5:30pm. Call charges will vary).

For product or administration queries email reassuresipp@jltgroup.com

As email isn't a secure method of communication, please don't send any personal, financial or banking information.

Who do I contact for queries relating to my Aegon Platform charges?

You should contact your intermediary in the first instance or you can call us on 0345 604 4001. Our opening hours are Monday to Friday 8.30am - 5.30pm. Please note, calls may be recorded for training and quality purposes. Call charges will vary.

You also need to tell us if you want to make any changes to your Aegon Platform account details, such as your personal or intermediary details.

2. Valuation for Legal & General products on 30 June 2019 and calculation of the annual platform charge

We wrote to you in May 2019 to confirm changes to the Legal & General Portfolio Bond and the insured funds (funds which are traded by Legal & General) in Legal & General pension product(s).

Following the removal of these products from the Aegon Platform, we’re no longer able to include the actual daily value of your insured funds when we calculate your overall annual charge due for products held on the Aegon Platform. 

If you had money in your Legal & General Portfolio Bond or insured funds in your Legal & General Portfolio Plus Pension or Portfolio Plus SIPP on 30 June 2019 and money in collectives on the Aegon Platform, we sent you a valuation in our September 2019 letter. Please note this isn't the actual value of your Legal & General product(s).

You don’t pay any Aegon Platform annual charge for the insured funds. We previously included the value of insured funds resulting in a higher value of your overall platform holdings. As our annual charge is normally tiered, this potentially benefitted you as the charge you paid may have been lower.  

To make sure you still receive this benefit, we’re now using a fixed value we call the ‘Total insured fund value’. This is the value of your insured funds in your Legal & General product(s) on the 30 June 2019, plus our goodwill gesture of an additional 10%. You can find more information around charging in our Questions and answers document

Questions and answers

Does the annual platform charge in my illustration include the insured funds in my Legal & General pension and bond?

We've identified an issue where our online illustration is incorrectly excluding the value of insured funds in your Legal & General Portfolio Bond or insured funds in your Legal & General Portfolio Plus Pension and Legal & General Portfolio Plus SIPP. 

This means the overall platform annual charges on the illustration may appear higher than they should. This isn't the platform charges you'll actually pay, as the value of these products are included in the actual calculation of charges. In the meantime you can contact us to request an updated illustration. 

Where can I find out more about the Aegon Platform annual charge and how the value of my Legal & General products affects it?

Our Questions and answers document provides further information. You can also speak to your intermediary or, if you don’t have one, us on 0345 604 4001. Our opening hours are Monday to Friday 8.30am – 5.30pm. Calls may be recorded for training and quality purposes and call charges will vary.

Where can I find today’s value of my Legal & General Portfolio Bond or insured funds in the Legal & General Portfolio Plus Pension or Portfolio Plus SIPP?

For a valuation of your Legal & General Portfolio Bond or insured funds in the Portfolio Plus Pension or SIPP go to Legal & General's MyAccount portal.

Please contact Legal & General for all queries about these products.

You can contact them on 0345 026 0003 (Monday to Friday 9am to 5pm, call charges will vary) or write to them at the following address:

Legal & General Assurance Society Limited

PO BOX 5457

Hove

East Sussex

BN52 9GG

Why does my letter show a blank value against one of the Legal & General products in the valuation table?

This means that either you don’t hold that particular product or if you did hold that product that you had no money invested in it on 30 June 2019.

Our example below shows how the valuation table will appear if you held £1,000 in the Portfolio Bond, but either you don’t hold the Portfolio Plus Pension and SIPP or you had no money invested in them on 30 June 2019.

Legal & General products held Insured fund value1 Total insured fund value (includes 10%)
Portfolio Bond(s) £1,000 £1,100
Portfolio Plus Pension(s) and SIPP(s)
Total insured fund value £1,000 £1,100

3. Legal & General product removal from the Aegon Platform

We no longer offer services for the Legal & General Portfolio Bond or insured funds within the Legal & General Portfolio Plus Self-invested Personal Pension (SIPP) and Portfolio Plus Pension through the Aegon Platform. 

You'll find below some questions and answers to help answer any questions you may have, including where to find valuations for your Legal & General Portfolio Bonds and pensions.

We wrote to you in May 2019 to inform you of the changes based on the Legal & General product(s) you hold. You can find copies of each of the letters below. There’s also a copy of the Questions and answers document, including information around how the changes will affect the Aegon Platform annual charge. You can also view a copy of the terms and conditions supplement for the Legal & General pension products that are effective since 1 July 2019.

There were no changes to the actual bond and pension products - Legal & General are continuing to provide their normal services and invest your money, just as they did before the change.

Questions and answers

Why can't I see my Legal & General Portfolio Bond and/or my Legal & General pensions?

The Aegon Platform no longer provides services for the Legal & General Portfolio Bond and for insured funds in the Legal & General Portfolio Plus Pension and SIPP. These products were removed from the Aegon Platform. There were no changes to the actual products and Legal & General is still the provider of the products. 

For a valuation of your Legal & General Portfolio Bond or insured funds in the Portfolio Plus Pension or SIPP go to Legal & General's MyAccount portal.

Why can’t I sign into the Aegon Platform anymore?

If you only held a Legal & General Portfolio Bond and/or insured funds in the Legal & General Portfolio Plus Pension and you had no other products on the Aegon Platform, we’ve removed your access. This is due to us no longer providing services for these products. 

If you want to open a new product on the Aegon Platform please speak to your intermediary or, if you don’t have one, contact us on 0345 604 4001. Our opening hours are Monday to Friday 8.30am – 5.30pm. Calls may be recorded for training and quality purposes and call charges will vary.

Why has the value of my Legal & General Portfolio Plus SIPP reduced?

Any insured funds have been removed from the value of the SIPP that we show on the Aegon Platform. This is because we no longer provide any services on the platform for the insured funds. We now show just the value of the collective funds (for more information on what we mean by collective funds view our Questions and answers document). 

For a full valuation for your Portfolio Plus SIPP go to Legal & General's MyAccount portal.

Where can I find more information on my Legal & General Portfolio Bond and/or my Legal & General Portfolio Plus Pension and SIPP?

You should contact Legal & General for all queries.

You can contact them by telephone on 0345 026 0003 (Monday to Friday 9am to 5pm, call charges will vary) or write to them at the following address:

Legal & General Assurance Society Limited

PO BOX 5457

Hove

East Sussex

BN52 9GG

For a valuation of your Legal and General Portfolio Bond or insured funds in the Portfolio Plus Pension or SIPP go to Legal & General's MyAccount portal.

What services are available for the Legal & General Portfolio Plus Pension or SIPP on the Aegon Platform?

The Aegon Platform provides the following services for the collective funds invested into the Legal & General Portfolio Plus Pension or SIPP on the Aegon Platform:

  • Daily valuation of all investments and a breakdown by fund.
  • Valuation included in the quarterly Aegon Platform statements.
  • Ability to switch collective funds online via the Aegon Platform.

For all other services, including top ups, please contact Legal & General on 0345 026 0003 (Monday to Friday 9am to 5pm, call charges will vary) or write to them at the following address:

Legal & General Assurance Society Limited

PO BOX 5457

Hove

East Sussex

BN52 9GG

Is the fixed annual charge I pay for the Aegon Platform affected by the changes made to the services for the Legal & General products?

No, you continue to pay the same percentage.

Who do I make cheques payable to, to make an additional payment in the Legal & General Pension or SIPP on the Aegon Platform?

Please make cheques payable to 'Legal & General' and send them to the address below.

We’ll return any cheques that are sent to us. Please note, Legal & General will use the date they receive your cheque to process instructions and additional investments.

Legal & General

PO BOX 5457

Hove

East Sussex

BN52 9GG

Can I make regular payments online for my Legal & General Portfolio Plus Pension or SIPP?

No. For more information contact Legal & General on 0345 026 0003 (Monday to Friday 9am to 5pm, call charges will vary) or write to them at the following address:

Legal & General Assurance Society Limited 

PO BOX 5457

Hove 

East Sussex

BN52 9GG

Can I carry out transactions online on the Aegon Platform for my Legal & General Portfolio Plus Pension or SIPP?

You can switch collective funds within your SIPP online via the Aegon Platform if you have access to this.

For an investment instruction or surrender complete the form.

For all other transactions contact Legal & General on 0345 026 0003 (Monday to Friday 9am to 5pm, call charges will vary) or write to them at the following address:

Legal & General Assurance Society Limited 

PO BOX 5457

Hove 

East Sussex

BN52 9GG

Alternatively, you can find out more information on Legal & General’s website.

Can I make additional payments to my Legal & General Portfolio Plus Pension or SIPP online?

No - you're not able to make additional payments to your pension online.

The Adding to your plan guide from Legal & General contains information on how to make additional payments to your Legal & General Portfolio Plus Pension or SIPP. 

To change any payments that your employer currently makes, use the Employers Contribution Authority form

Alternatively, you can find out more information on Legal & General’s website.

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