What is a Market Value Reduction (MVR)?
This is a deduction we may make when you fully or partially cash-in your ISA. We will not apply an MVR on death. Its purpose is to be fair to both Members leaving the fund and those staying by ensuring that the cash-in value is not unfairly higher than the market value of the plans assets and that a fair share is left for the remaining Members. This adjustment could have the effect of reducing the value of your ISA at that time and in some circumstances could mean that you get back less than you have paid in.
