Separate Account A of Pacific Life & Annuity Co has made an important update regarding its variable annuity contracts. The recent filing outlines changes to the underlying fund information, which is crucial for contract owners and potential investors. This move is part of the company's strategy to manage expenses and improve its product offerings in a competitive market.
Background
Separate Account A of Pacific Life & Annuity Co, incorporated in California, is classified under the investment category. The company has been active in filing various forms with the SEC, with its most recent filings including multiple 497 forms on October 21, 2026. The company primarily focuses on variable annuity products, which are designed to provide income during retirement.
What the Filing Says
The filing, dated October 21, 2026, serves as a supplement to the Initial Summary Prospectus, Statutory Prospectus, and Updating Summary Prospectus dated May 1, 2026. It announces an underlying fund change, specifically stating, "As of November 1, 2026, the underlying fund information related to the Current Expenses in the APPENDIX: FUNDS AVAILABLE UNDER THE POLICY section will be deleted and replaced with the following." This indicates a significant update to the expense structure of the funds involved.
Impact
This update is likely to affect contract owners of the Pacific Advisory Variable Annuity, as it changes the cost structure associated with their investments. Furthermore, it may influence potential investors considering similar products from competitors like Invesco Advisers, Inc., which manages the Invesco V.I. American Value Fund Series I included in the update.
What's Next
The filing does not specify what happens next, but it is clear that contract owners should review the updated prospectus for details on the new expense structure and fund options.