Investments, Events - Changing a Regular Premium

This example is based on a £200 per month regular premium contract split equally between two funds, as shown below, that after two years needs to be increased to £500 a month, divided 200/300 between the two funds.

Essentially the process is just a matter of stopping the old premiums and of creating a new premium. It does not matter which you do first.

Stop Further Contributions to Existing Funds

Starting from the “Fund” screen, above…

• Click the option to “Show events (e.g. switches)”, as shown below
• Note the current valuation (in this example for £200 per month from 21/01/05 to 04/06/07 = £5,800 of premiums)

• Highlight the “Purchase, initial” event and click the “Edit” button
• Remove the tick from the “…or sold” box, as shown below, and enter the last date for the old premium (in this example, after 2 years on 20/01/2007)
• Click “OK”

• After accepting the prompt to revalue you’ll be returned to the “Events” screen
• The Contract Summary should now display a revised valuation (in this example with the £200 per month from 21/01/05 for 2 years only = £4,800 of premiums)

Start Revised Contributions to Funds

• Click the “Add” button
• Select “Add an event (e.g. accumulation, switch, etc)” and click “OK”
• Set the “Event type” to “Transaction between acquisition and closure”
• Set the “Action” to “Vary regular premium”, as shown below…

…which will cause the following reminder to pop-up…

As you’ve already set the end date of the original premium, now you just need to add the fund allocations for the revised premium...

• Click the “Add” button
• Select the first fund and enter the revised monthly contribution (e.g. £200 per month)
• Repeat for the next fund/s (e.g. £300 per month)
• Click “OK”

Stopping Contributions to One Fund, and Transferring its Value to Another

If you not only want to stop regular premium contributions to certain funds, but also to redirect those contributions to different funds, or transfer part of one fund into another, then refer to “Investments, Examples, Switching Regular Premium Contracts”.