Our latest update on the MSS Fund merger
Wesleyan is planning to merge the Medical Sickness Society (MSS) Fund with its Open Fund in January 2027.
Why are we merging?
This situation was expected in 1997, and a merger with the Open Fund was expected to happen in due course.
Since 1997, the MSS Fund has been closed, and so has not accepted any new plans since then. Because of this, the MSS Fund has been getting smaller as people claim their benefits at the end of their plan. The smaller the MSS Fund becomes, the more the value of payouts could fluctuate.
Therefore, before the MSS Fund gets too small, we believe it’s in policyholders’ best interests to merge it with our larger with-profits fund. Our larger Open Fund can cushion any fluctuations to a greater degree than a smaller fund.
How will this affect you?
There won’t be any impact on your plan(s), and you do not need to take any action.
If you would like to share feedback or ask questions about the process, please contact us before 28th August 2026.
If the merger goes ahead, we will update this page in January 2027 to let you know.
The Independent Actuary and the With Profits Actuary communications
As part of the proposed merger, a statement and a report have been prepared to assess the impact on policyholders and the ongoing management of the Funds.
- The With Profits Actuary statement
- The Independent Actuary’s summary report
"In the merger of the Medical Sickness Society Fund (MSSF) and the Open Fund of Wesleyan there are areas of discretion, exercised by the Wesleyan Board, that can impact the amount that is paid out on your with-profits policy. As With Profits Actuary to Wesleyan I am responsible for advising the Society’s Board on the exercise of discretion affecting the with-profits policyholders.
"I have reviewed the terms of the merger and I believe that the terms proposed are fair, and that undertaking the merger is in the interests of the MSSF with-profits policyholders. I am also content that the merger is fair to the Wesleyan Open Fund with-profits policyholders."
Independent Actuary Andrew Valentine's summary report.