Halifax funds

The table shows the base YMC and the current estimated total yearly fund charge for each fund. The base YMC you pay when invested in any Scottish Widows fund is the same before and after your plan's 20th anniversary. 

You may pay a lower effective YMC if you receive any reductions or loyalty bonuses on your plan. 

Based on fund information as at April 2023.

Important information

Our charges can change, and may increase if:

• there’s a change in a tax rule or law that affects us, or the plan
  
• exceptional circumstances result in an increase to our costs to administer the PIP, or cause our income from charges to be less than we anticipated.

We’ll give you three months’ notice if we change our charges.

Reduction in yearly management charges for Scottish Widows funds

If you've paid £30,000 or more into your plan, you'll receive a reduction in the YMC you pay. We reduce the effective YMC you pay by adding extra units to your plan on 31st December each year.

For any part of your plan which is invested in our Scottish Widows funds, the following reductions apply:

We don't take movements in the value of your plan into account when calculating the level of reduction in the Yearly Management Charge.

Reductions in Yearly Management Charges for top ups 

You might also receive a reduction in your Yearly Management Charge of up to 0.5% if you top up. The top up needs to be paid into your plan between 1st October 2012 and your plan's 20th anniversary. 

The reduction only applies to payments that meet those requirements, and not to the whole of your investment. 

The table shows the YMC and the current estimated total yearly fund charge for each fund. 

You may pay a lower effective YMC if you receive any reductions or loyalty bonuses on your plan. 

Based on fund information as at April 2023.

For more information on the Independently Managed funds, please see your plan's Key Features (PDF, 294KB).

Important information

Our charges can change, and may increase if:

• there’s a change in a tax rule or law that affects us, or the plan
• exceptional circumstances result in an increase to our costs to administer the PIP, or cause our income from charges to be less than we anticipated.

We’ll give you three months’ notice if we change our charges.

Reduction in yearly management charges for Halifax or Independently Managed funds

If you've paid £30,000 or more into your plan, you'll receive a reduction in the YMC you pay. We reduce the effective YMC you pay by adding extra units to your plan on 31st December each year.  

For any part of your plan which is invested in Halifax or Independently Managed funds, the following reductions apply:

We don't take movements in the value of your plan into account when calculating the level of reduction in the Yearly Management Charge.

Reductions in Yearly Management Charges for top ups 

You might also receive a reduction in your Yearly Management Charge of up to 0.5% if you top up. The top up needs to be paid into your plan between 1st October 2012 and your plans 20th anniversary. 

The reduction only applies to payments that meet those requirements, and not to the whole of your investment. 

If your plan has passed its 20th anniversary, please see our detailed fund charge tables for the effective YMC you pay.

You may be eligible to receive a loyalty bonus. Each loyalty bonus is calculated based on a percentage of the average value of the plan over a given time, as shown below. It’s paid by adding units to the plan, as long as your plan is still invested when the loyalty bonus is due. Please note that no loyalty bonus is added for investments in the Managed Income Fund.

Loyalty bonus for plans taken out before 30th November 2007

Loyalty bonus for plans taken out between 30th November 2007 and 27th June 2010

You can find more information about charges, loyalty bonuses and reductions to YMC on pages 4–7 of the Key features (PDF, 294KB).

We've produced definitions for our investment funds that include the terms ‘Adventurous’, ‘Balanced’, ‘Cautious’ and ‘Progressive’ to help you better understand how we define the level of risk associated with each investment. These definitions are relevant to the Cautious Growth Fund, Balanced Growth Fund, Progressive Growth Fund and Adventurous Growth Fund from Scottish Widows, available to invest in through your Personal Investment Plan.

Scottish Widows Growth Funds have exposure to different types of investments as described in the fund aims. These investments can include bonds (also known as fixed interest securities), equities, property, commodities and alternative investments depending on the fund’s investment objectives.

We may change what the funds are invested in and the selection of funds that we make available.

Increasing Risk

Investment periods

We categorise investment periods as follows:
Short-term: Up to 5 years
Medium-term: Between 5 and 10 years
Long-term: Over 10 years

Investment risk can change over time

Over time your investment could move away from your preferred level of risk, either becoming less risky (normally with less potential for growth) or more risky (normally with more potential for growth). This happens when some assets within a fund perform better than others. For example, if equities in a fund grew at a higher rate than other assets, such as gilts and fixed interests, more of the fund’s underlying investments would be in equities.

This would increase the level of risk for the fund because equities are considered to be higher risk, as they are more likely to have fluctuations in value. So the chances of your fund reducing in value is higher.

So it’s important to regularly review your fund choices and check they’re still right for you. Your latest annual statement will provide you with details of the funds you’re currently invested in. You can review your fund’s fact sheet for more information – including where your fund invests, its aims and the past performance.