Separate Account A of Pacific Life & Annuity Company has made significant updates to its variable annuity contracts, as detailed in a recent SEC filing. This update, dated October 21, 2026, is crucial for current and prospective policyholders as it outlines changes to the underlying funds associated with these contracts.
Pacific Life & Annuity Company operates under the investment sector, providing a variety of financial products including variable annuities. The company is known for its commitment to offering flexible and innovative solutions to meet the needs of its clients. The recent filing is part of a series of updates, showcasing the company's responsiveness to market demands and regulatory requirements.
The filing states, "The purpose of this supplement is to announce various underlying fund changes." This indicates that the company is actively managing its fund offerings to ensure they align with current market trends and investor expectations.
Notably, effective November 1, 2026, the company will replace the underlying fund information related to the Current Expenses in the Appendix section of the prospectus. This includes changes in the subadvisor for the Pacific Select Fund International Small-Cap, which will now be managed by Wellington Management Company LLP, replacing FIAM LLC. Additionally, Citigroup Global Markets, Inc. has lifted specific maximum issue age restrictions for contract issuance and optional benefits, broadening access for potential investors.
This update may affect policyholders who hold contracts under the variable annuities that are subject to these changes. Investors in the affected funds should review the new information carefully to understand how these changes may impact their investments.
Looking ahead, the filing does not specify any further actions or upcoming filings related to these changes. However, policyholders are encouraged to contact Pacific Life for more information regarding their contracts and the implications of these updates.