The links below show the latest performance figures for the DC investment funds used by members of the various GSK pension plans. Figures are based on the performance of the underlying funds, managed by Legal & General Investment Management for the following GSK funds:
The GSK Lifecycle investment options invest in a selection of the funds in proportions that will change as you approach retirement (including: Lifecycle Fund, Inflation Linked Pre-Retirement Fund, Retirement Income Multi-Asset fund and Cash Fund) . Please note that if you are invested in a legacy Lifecycle investment option, the funds you invest in may be different.
Security of DC assets
The GSK Pension Schemes invest defined contribution assets in a range of funds that are available on the investment platform provided by Legal & General Assurance (Pensions Management) Limited (“L&G”); the platform is accessed via a long-term insurance policy been the Trustees and L&G. L&G is regulated by the Financial Conduct Authority. In the event that L&G becomes insolvent, the Trustees are eligible for protection under the Financial Services Compensation Scheme (“FSCS”). This means that the Trustees may be able to make a claim (on behalf of members) for 100% of its policy value with L&G in the event of a default by L&G.
The funds on the L&G investment platform are managed by a range of investment managers, which include Legal & General Investment Management Limited (“LGIM”), HSBC Investment Funds (Luxembourg) S.A., Nordea Investment Funds S.A., Man Asset Management (Ireland) Limited and Fulcrum Asset Management LLP.
The Trustees of the GSK Schemes have agreements in place with L&G, who in turn has agreements with the individual fund managers that sets out guidelines for the underlying investments held by each fund. Day-to-day management of the investment arrangements is the responsibility of the underlying fund managers, including the indirect management of credit and market risks. The Trustees monitor the underlying risks by reviewing investment performance and risk through ongoing governance and quarterly investment reports.
At their last assessment, the Trustees were satisfied with the level of protection available to members’ assets, and believe that risks to the security of assets are being minimised where possible. The Trustees continue to monitor the situation regularly.
- You should obtain appropriate independent financial advice before making changes to your investment strategy or fund choices.
- A list of impartial financial advisors in your area can be found at www.unbiased.co.uk.
- Other free sources of information that you may wish to consider using include the Money and Pension Service,https://www.moneyandpensionsservice.org.uk/
- The type of investments you may want to hold depends upon your personal circumstances.
- Past performance is not a guarantee of future performance and the value of investments, including funds, can go down as well as up.