No, there will be no change to the services Scottish Friendly provides, or to your policy terms and conditions, following Brexit.
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The UK left the EU on 31 January 2020 and the transition period (during which the UK continues to be subject to EU rules) will end on 31 December 2020.
We have detailed below some frequently asked questions regarding your Scottish Friendly products and services after the transition period.
No, there will be no change to the services Scottish Friendly provides, or to your policy terms and conditions, following Brexit.
No, we will continue to service and administer your policy as we currently do, with no change to your terms and conditions.
No, we will continue to service and administer your policy as we currently do, with no change to your terms and conditions.
We are aware that some UK banks, that do not have a banking license to service customers in the EU, are closing the bank accounts of account holders living in the EU if they can no longer prove they have a UK address. Please contact us immediately on 0333 323 5433 if you are impacted by this so that we can discuss your options with you.
The economic consequences of Brexit are not known, and it is not possible to know how the value of your policy may be affected.
The fund(s) you invest in are linked to a number of underlying investments, the value of which depends on a range of factors, including stock market volatility. There have been various periods of stock market volatility since the referendum vote in June 2016 and, it is possible, we will see this again following the end of the transition period.
We'll keep you updated on any fund suspensions that are required.
We recommend you take financial advice before making any decision relating to your investments with us.
No, we are not planning any changes and will continue to make your annuity payments as at present.
Yes, policies sold by Scottish Friendly are eligible for protection provided by the Financial Services Compensation Scheme (FSCS). Remember, the FSCS does not protect customers against market losses.
Yes, your data will continue to be protected, and held securely, through current legislation, and our internal policies.
Scottish Friendly will continue to monitor political developments and keep you informed.
Access the latest fund and investment information, and learn about your options for managing your investments online.
If you have any questions about how ISAs work or how to manage your investments, our FAQs might help.
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