Changes to the Ex Gan ISA

We continue to administer the accounts in the same way as before. The only change is the name of the ISA Manager, from FPML to FEPL. This will first been seen in statements from the 1st of June.

As part of this change we have taken the opportunity to refresh theTerms and Conditions to reflect these changes and to include updates to legislation and process that have happened since you took your contract out. A copy can be found. A summary of what has changed or been added can be seen below. The contact details, including the address for both the old and new ISA Managers remain unchanged.

Background – These customers original took out a Gan Personal Equity Plan (PEP). This type of contract stopped being available in April 1999. Any existing PEPs were reclassified as ISA in April 2008, so are now operated under ISA rules and regulation.

The fund these contracts are invested in was changed in 2009 as part of a fund rationalisation project. Customers were advised of the impact and options available ahead of this change in Feb’/March 2009. As part of this fund change, the fund charges were reduced and loyalty bonus removed from the product. Information on this was included was also included in the notification letter issued in 2009:

• The £1.80 monthly plan fee remains at this time
• The fund is now single priced, this was part of fund rationalisation. It does no longer operates the bid offer spread mentioned in the original T&Cs
• A section on performance monitoring, that gives detail on where to find up to date information is included in the new T&Cs
• Overall contribution limits have increased
• Withdrawal processes have been updated
• How to change personal details section of the T&Cs has been update
• Treatment of benefits on death have been updated to reflect regulatory change
• The name and contact details of the relevant Regulator and complaints ombudsman have been updated
• Details on the account holder’s responsibility to disclose if they have breached any ISA regulation either intentionally or accidentally have been added
• The Isa manager who runs the account was updated Family PEP Managers Limited (FPML) when the account transferred to OneFamily which in turn has now transferred to Family Equity Plan Limited (FEPL)
• Minimum holding value is now reduced to £1 and withdrawal limits have been removed. There is also no longer a charge for making more than 3 withdrawals in a 12-month period
• Detail on returning payment or part payments has been added
• Charges for AGM attendance, voting and materials have all been removed. OneFamily is a mutual company and values member contribution and opinion on how the society should be run
• GDPR rights and requirements have been enhanced since the original T&Cs were issued
• Complaints processes have been revised
• FSCS protection has increased since the original T&Cs were issued
• Clarification of general operational process and practises

Read the full Terms and Conditions