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 Teachers Provident Society Limited (TPS, known as Teachers Assurance) 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.