They are invested in one of two investment funds, depending on where you are in your pension saving journey.
Our Diversified Growth Fund
During most of your working life, we invest your pension savings in our Diversified Growth Fund. This fund is designed to provide stable growth, above the rate of inflation, without too much volatility (ups and downs in value) over the long term.
Our Retirement Countdown Fund
Starting 15 years before your target retirement age – the age you’ve told us you want to retire at – we gradually switch your pension savings to the Retirement Countdown Fund. This fund aims to protect the value of your pension savings, reducing the risk of them falling in value when you’re due to turn them into retirement benefits.
We call this switch from growth to protection investments your ‘Journey Path’ to retirement.
Unless you tell us otherwise, we assume your planned retirement date is your State Pension age. Please keep us updated if your plans change. Remember, you can change your target retirement date in your online member account.
- Our Member Booklet explains our Scheme and investment approach in more detail.
- Our Statement of Investment Principles (SIP) sets out details of our investment policy.