Changes to the Retiready Solutions ISA fund range
Updated 07 October 2024
The funds you’re invested in under our Retiready ISA Solutions 2-5 fund range are closing
From 7 November 2024, the funds you’re invested in under our Retiready ISA Solutions funds range are closing. By investing in one of these funds, you're investing directly in a BlackRock Volatility Strategy fund managed by BlackRock.
The fund manager, BlackRock, is closing the funds the Retiready ISA Solutions 2-5 invest in from the above date. This means the investments used for our Retiready ISA Solutions 2-5 will no longer be available.
The funds affected:
Affected Retiready ISA Solution
|
Closing fund
|
---|---|
Retiready Solution 2
|
BlackRock Volatility Strategy I (E share class)
|
Retiready Solution 3
|
BlackRock Volatility Strategy II (E share class)
|
Retiready Solution 4
|
BlackRock Volatility Strategy III (E share class)
|
Retiready Solution 5
|
BlackRock Volatility Strategy IV (E share class)
|
Source: Aegon UK
What this means for your investments
If you're invested in these funds, when the funds close, we’ll move your existing investment into your cash facility. Any payments intended for these funds made after 31 October 2024 will also go into your cash facility. When this happens, you’ll no longer be invested in stocks and shares.
While you remain the cash facility, we won’t apply our annual charge. You can find out more about how your cash facility works here.
Going into your cash facility means your money will remain in your ISA, and you won’t lose your current tax benefits. You can transfer your investment directly to a new ISA product without impacting your ISA allowance for this year.
Next steps
We've written to those invested in the impacted funds to tell them about the changes. We’ll update investors soon about how they can re-invest the cash in their cash facility to new investment solutions. In the meantime, here’s some initial information about the new investment solutions that we’re working to make available to you after the closure (links to the fund factsheets and Key Investor Information Documents (KIIDs) in the table below). We’ll be in touch with more information nearer the time.
Retiready ISA Solution
|
New fund (available after closure)
|
More information
|
---|---|---|
Retiready Solution 2
|
WS Aegon Risk Managed 3
|
|
Retiready Solution 3
|
WS Aegon Risk Managed 4
|
|
Retiready Solution 4
|
WS Aegon Risk Managed 5
|
|
Retiready Solution 5
|
WS Aegon Risk Managed 6
|
Source: Aegon UK
Please remember that the value of investments may go down as well as up and you may get back less than you invest.
Your options now
- Read this carefully and consider your options. The closure and move to your cash facility will happen automatically. Remember, when you hold your savings in cash over the long-term, the value and the level of income you can take from them may not keep up with inflation.
- You can transfer to another ISA provider. You may be able to find an alternative stocks and shares ISA product from a different provider. You’ll need to fill out an ISA transfer form from the ISA provider you want to move to, to move your account. Go to the GOV.UK site to find out more.
We’ll provide an update soon to give you more details of your options.
This information should not be interpreted as a recommendation or advice.
More information
You should speak to a financial adviser if you’re not sure or have any questions about your investments. There will be a cost for this service. If you don’t have a financial adviser, you can visit moneyhelper.org.uk/choosing-a-financial-adviser to find the right one for you
View your plan online
You can view your plan online by signing into your Retiready account. If you’ve forgotten your password, you will be able reset it on the page.
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