10    Glossary of terms
Allocation rate
This is the percentage of your contribution that is invested.
Company shares, fixed interest securities (government or company bonds), property and cash.
Bid price
The price at which you can sell units.
Collective investment scheme
An arrangement that allows people to pool their savings along with other investors.
Any payment you make into your policy.
A financial institution that holds securities for safekeeping on behalf of the investor.
This is where the company makes a choice on the most appropriate course of action to protect the interests of policyholders.
Financial Adviser
A professional who helps individuals manage their finances by providing advice on money issues such as investments.
Fund Manager
The organisation or individuals responsible for managing unit-linked funds on behalf of a Life and Pension company. The Society’s unit-linked funds are managed by Aberdeen Standard Investments.
Fund objectives
These describe the investment aims of the fund and how they will be achieved.
Range of unit-linked funds Back to front page Glossary of terms continued