Scottish Widows OEIC and Halifax Collective Investment Plan

If you’ve not reviewed the fund or funds in your OEIC account or CIP for a while, it’s a good idea to take some time to consider if they’re still right for you. 

Here are two things you can do: 

• Find out how much your investment is currently worth.
  Every year we’ll send you an annual statement, which will tell you how much your OEIC account or CIP is currently worth.  If you’re already registered for our online services, you can request an up to date valuation here. If you’re not registered for our online services, then you can call us for a valuation on 0345 300 2244. We’re available Monday to Friday 9am to 5pm.
• Look at the funds you’re invested in to see if they’re still suitable.  Your annual statement shows which funds you’re currently investing in. 

Read the Key Investor Information Documents (KIIDs) for each fund here:
Scottish Widows OEIC Account
Halifax CIP

The KIID will give you, among other things, the fund’s objective or aim, what it’s trying to achieve, charges and the fund risk rating. 

It’s important to think about how much risk you’re willing and able to take. This can change over time. The fund’s risk rating can also change.

For individual or jointly held OEICs and CIP accounts, we'd be happy to help talk you through the different options available to you.

Just give us a call on 0345 300 2244 and ask for the Customer Engagement Team quoting WEB-CET. We're here from Monday to Friday between 9am and 5pm.

Call us on 0345 300 2244.  We’re available Monday to Friday 9am to 5pm. We’ll be happy to help you, but we can’t offer you financial advice or give you recommendations about what to invest in.

For a Scottish Widows OEIC Account you can also request a change of funds in writing using the Scottish Widows Unit Trust Managers declaration form (PDF, 664KB).

For a Halifax CIP you can also request a change of funds in writing using the Halifax Investment Fund Managers Limited declaration form (PDF, 770KB). 
 

You may have to pay Capital Gains Tax if you do this.

Even if you opened your OEIC account or CIP some time ago you can still add money. 

Call us on 0345 300 2244.  We’re available Monday to Friday 9am to 5pm.

When you call us, make sure:

• you have your account or plan number and bank details to hand.
• you’ve read the Key Investor Information Documents  for your chosen funds.

For more information you may want to read the Supplementary Investor Information Documents (SIIDs), which summarises important information about your OEIC or CIP. 

To talk to us about taking a withdrawal from your OEIC account or CIP call us on 0345 300 2244.  We’re available Monday to Friday 9am to 5pm.

You may have to pay Capital Gains Tax when you do this.

When you die, the value of your OEIC or CIP investments may form part of your estate for inheritance tax purposes. The money will remain invested until we receive instructions from your legal representatives.

Tax can be complicated so we recommend you seek specific tax advice. Tax rules can change.

Some of our funds make interest distributions while others make dividend distributions. The tax implications are different for these. 

Interest distributions: These are paid gross without deduction of income tax but they count towards your Personal Savings Allowance. 

The Personal Savings Allowance is set by the government.  It’s the amount you’re able to earn in Savings income tax-free.  The amount depends on whether you’re a basic rate taxpayer or higher rate taxpayer.  For example, no income tax is paid on savings income up to the Personal Savings Allowance of £1,000 (basic rate tax payers) and £500 (higher rate tax payers) but this doesn’t apply to additional rate tax payers.

Dividend distributions: Dividend distributions are classed as taxable income. You may have a liability to pay tax if your dividends go above the dividend allowance in the tax year.

For details of the current dividend allowance, please visit www.gov.uk/tax-on-dividends