Retirement Countdown Fund factsheet – June 2022

About the Retirement Countdown Fund

The Retirement Countdown Fund (RCF) is designed and managed to protect the value of built-up pension savings. It invests in cash and other ‘liquid’ (easy to sell and turn into cash) assets that behave in a similar way to cash, such as money market funds, cash deposits and short-dated bonds. These investments are expected to hold their value well in the short term and produce returns in line with the RCF’s investment objective (before taking off fees).

It forms part of the Journey Path, where Scheme pension savings gradually move to the RCF from the growth-focussed Diversified Growth Fund (DGF) over the 15 years leading up to planned retirement age. At retirement age a member’s pension savings will be split 80% in the RCF and 20% in the DGF, and will stay like that unless the member does something (such as transferring out).

We continue to be committed to responsible investment and, at 30 June 2022, the RCF’s percentage of responsible investments remained at 100%. The responsible investment percentage is likely to vary in future but the RCF will always have at least half (50%) of its money in responsible investments. Its investment policy specifically excludes investing in areas such as fossil fuels, thermal coal and tobacco.

You can find out more about the Journey Path, the RCF’s objectives and our commitment to responsible investment in the Statement of Investment Principles.

Investment performance

Over the long term we expect the RCF’s investment returns to be in line with the investment objective, before taking off fees. The RCF’s investment return in the three months to 30 June 2022 was in line with its investment objective.

Download the June 2022 Retirement Countdown Fund factsheet.

See all of our historical Retirement Countdown Fund factsheets.