is a sub-committee of the main LV= Board, which provides independent judgment on material issues in assessing compliance with the Teachers Assurance Fund PPFM.
The with-profits fund is the continuation of the pool of assets TPS used to help determine policy benefits prior to the transfer to LV=. It is split into three sub-funds for different products which all have the same target asset allocation. The three sub-funds are:
The actual asset allocations of the sub-funds differ from time to time for practical reasons.