Release date: 15 September 2006

This is only relevant to customers who hold policies with NPI Limited (NPIL) - customers who hold policies with National Provident Life Limited (NPLL) are not affected.

The Changes

In July 2006 we sent a communication (a Scheme Guide and Questions & Answers document) to policyholders of Pearl Assurance (Unit Funds) Limited (PAUF), Pearl Assurance (Unit Linked Pensions) Limited (PAULP), London Life Linked Assurances Limited (LLLA) and NPIL explaining that we had made an application to the High Court to transfer the insurance business carried on by PAUF, PAULP and LLLA to NPIL (the "Scheme").

On 14 September 2006, the High Court approved the Scheme subject to one amendment. The amendment is described in our Amendment to the Scheme section.
(Note: this page will open in a new browser window).

The Scheme will become effective on 1 October 2006. Therefore, from that date, NPIL will become the provider of all policies issued by PAUF, PAULP and LLLA.

If you are a NPIL policyholder, the only change you may possibly notice in future is that NPIL will have more flexibility around the fund choices available to you - refer to sections 7.4 and 7.5 of the attached Scheme Guide for further details.

As we have now received approval from the High Court we have closed our customer helpline. If you have any queries about the Scheme you can refer to our original article (from 26 June 2006) or the attached Scheme Guide.

For policyholders who were resident in Jersey and Guernsey when their policies were issued:

On 15 September 2006, the Royal Courts of Jersey and Guernsey approved schemes to transfer the policies to NPIL. Those schemes will also become effective on 1 October 2006, and NPIL will become the provider of the policies transferred under those schemes from that date.