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SPILA funds: Fund updates

Fund Closures - SPILA Bonus Growth Range of Funds - Published: 04 Sep 2015

On the 1st December 2015, the SPILA range of Bonus Growth funds will close affecting closed products that were sold under the SPILA brand. Click on this story for the full details and to view sample policyholder letters.

Fund Maturity - SPILA Bonus Growth 2014 - Published: 28 Oct 2014

The Scottish Provident International Life Assurance (SPILA) USD and GBP Bonus Growth 2014 funds have reached the end of their maturity year. Policyholders should now choose whether to encash their fund value or switch into an alternative fund from the choice available to their policy. Affected policyholders have been written to, notifying them of their options. The maturity affects closed products that were sold under the SPILA brand. Click on this story for more details.

Fund Closures - SPI USD & GBP Global Managed Funds - Published: 17 Jun 2014

Following a review, RL360° will be closing both the SPI USD Global Managed and SPI GBP Global Managed Funds on 9 September 2014. The funds are now soft closed. Affected policyholders have been written to, notifying them of their options. The fund closures affect closed products that were sold under the SPILA brand. Click on this story for the full details and to view sample policyholder letters.

Fund Maturity - SPILA Bonus Growth 2013 - Published: 18 Dec 2013

The Scottish Provident International Life Assurance (SPILA) USD and GBP Bonus Growth 2013 funds have reached the end of their maturity year. Policyholders should now choose whether to encash their fund value or switch into an alternative fund from the choice available to their policy. Affected policyholders have been written to, notifying them of their options. The maturity affects closed products that were sold under the SPILA brand.

Fund Maturity - SPILA Bonus Growth 2012 - Published: 16 Jan 2013

The Scottish Provident International Life Assurance (SPILA) USD and GBP Bonus Growth 2012 funds have now reached the end of their maturity year. The Bonus Growth Funds promise that in a particular year, the 'guarantee year', the fund value will be calculated using the highest ever bid price achieved since the fund was launched. The 2012 Fund has now reached this point and in aiming to maintain and, indeed, improve on the highest bid price achieved, the fund now holds deposit based investments. Policyholders should now choose whether to encash their fund value or switch into an alternative fund from the choice available to their policy. Affected policyholders have been written to, notifying them of their options. The maturity affects closed products that were sold under the SPILA brand.