We are changing our investment fund provider from Legal & General to Mobius Life to improve the investment options we can offer your clients and their employees in the future. All pension providers use investment fund providers to provide investment options to their members and to also keep their members’ money safe and secure.
As part of this change, there will be a blackout period between 22 April to 14 May 2024.
What this means for your clients
There’s nothing different they need to do. They should continue to upload their pension contribution files by the 5th of the month as they would normally, and they will be automatically collected by Direct Debit on the 7th.
Frequently asked questions about the blackout period
What is an investment fund provider?
An investment fund provider gives members access to investment funds. This allows them to make investment choices about where their money is invested. An investment fund provider is also responsible for keeping members’ money safe and secure.
Please note, that an investment fund provider is not an investment manager. An investment manager manages the investment funds, and as part of the move to the Mobius Life platform, the investment managers will remain the same.
Who are Mobius Life?
They're a market-leading institutional investment platform, providing investment administration services and tailored investment solutions to trustees of institutional pension schemes, advisers, master trusts, asset managers and life insurance companies.
Why are we moving from Legal & General to Mobius Life?
To give us more flexibility to improve our investment options, including meeting our ambitious net zero targets and offering more varied asset classes.
Please note that the investment fund platform will be moved from Legal & General to Mobius Life. However, the investment managers and the funds available will stay the same.
Are my clients' employees affected by the blackout period?
Your employees can still request to make changes to your account but we will be unable to process some transactions during this period, so there will be a delay.
To find out more including answers to frequently asked questions, read our member help article.
Will my clients' employees see a difference in their mobile app/account?
No, the look and feel of their Smart Pension account will remain the same.
Will my clients' employees have different investment options?
No, they will have the same investment options as they did before.
When will investment fund factsheets be available after the move to Mobius Life?
Investment fund factsheets are produced approximately 5-6 weeks after each quarter. Therefore, we anticipate receiving the updated Mobius factsheets for the period to 30 June 2024 in early August.
Will my clients' employees be charged more as part of the move to Mobius Life?
No, they will be charged the same amount as they did before.
Will my clients' employees lose any existing investment options?
No, they will have the same investment options.
When will investment fund factsheets be available after the move to Mobius Life?
Investment fund factsheets are produced approximately 5-6 weeks after each quarter. Therefore, we anticipate receiving the updated Mobius factsheets for the period to 30 June 2024 in early August.
Are my client's employees’ pension savings safe?
Yes, your employees’ money is safe and will remain safe during the blackout period.
Will there be any out-of-market risk or transaction costs as part of this change?
No, there will be no out-of-market risk or transaction costs during the blackout period as pension savings will remain invested.