Currently, all contributions are invested by State Street Global Advisors Limited in highly regarded, mainstream pooled investment funds, accessed through a long-term insurance contract with Managed Pension Funds Limited (MPF). This is a typical investment structure used by many pension funds in the UK. In the event that MPF becomes insolvent, it may be possible for any deficit to be recovered from the Financial Services Compensation Scheme (FSCS). The FSCS website at www.fscs.org.uk advises that for claims relating to long-term insurance policies, the maximum compensation is 100% of the claim with no upper limit. However, we believe that this position has yet to be tested.