When you join your pension scheme, your contributions will be invested into a default fund. This means that your contributions are invested and managed for you, from the moment you join your scheme right through to retirement.
A default fund automatically adjusts what it invests in as you get closer to retirement. It aims to grow your savings during the early years, before gradually moving into investments that are considered to be lower-risk as you approach retirement.
Default funds are ideal for those who prefer a hands-off approach to saving for retirement. However, they don’t consider your personal circumstances or specific retirement plans, so it’s important to ensure your investment strategy aligns with your financial goals as you may find you want to take your retirement savings in a particular way.
It’s also important to make sure your target retirement age is accurate, as this has a direct influence on where your savings are invested.
Log in to your TargetPlan account to find out which fund or funds you're invested in, check your investments, or make changes.
Please remember, the value of investments isn't guaranteed and may go down as well as up. You may get back less than you invest.
Other investment options
If you decide the default option isn't right for you, perhaps because it takes more or less risk than you're comfortable with, or because it's targeting an outcome that doesn't suit you, there are other fund choices available to you. What you choose depends largely on how confident you are making investment decisions and your attitude to risk.
It’s important to regularly check that you are happy with your choices, and the target retirement age we have for you, especially as you get closer to retirement.
Log in to your TargetPlan account to explore the full range of fund options available to you.
There’s no guarantee the fund will meet its objectives.
The value of an investment can fall as well as rise and isn't guaranteed. The final value of your pension pot when you come to take benefits may be less than has been paid in. Before deciding to invest in a fund it's important to read the fund factsheet to find out more about where it invests, its objectives, charges and any fund-specific risks.
