Our workplace target range of default options

This fund is aimed at those who want to keep their options open at retirement. It uses a two-stage investment process.

In the early years (the growth stage) it aims to grow savings over the long term by investing in an equal mix of global equities (company shares) and UK bonds. It’s designed to track the markets it invests in, so performance should be similar to those markets.

In the six years before your target retirement year (the flexible target stage), we’ll progressively move you into less risky investments. We’ll also move part of your investment into cash in the final two years to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)

This fund is aimed at those who want to keep their options open at retirement. It uses a two-stage investment process.

In the early years (the growth stage) it aims to grow savings over the long term by investing mainly (generally at least 65%) in global equities (company shares) with the remainder in bonds (corporate and/or government bonds) and/or cash. It’s designed to track the markets it invests in, so performance should be similar to those markets.

In the six years before your target retirement year (the flexible target stage), we’ll progressively move you into less risky investments. We’ll also move part of your investment into cash in the final two years to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)

This fund is aimed at those who want to keep their options open at retirement. It uses a two-stage investment process.

In the early years (the growth stage) it aims to grow savings over the long term by investing in an equal mix of UK and international equities (company shares). It’s designed to track the markets it invests in, so performance should be similar to those markets.

In the six years before your target retirement year (the flexible target stage), we’ll progressively move you into less risky investments. We’ll also move part of your investment into cash in the final two years to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)

This fund is aimed at those who want to keep their options open at retirement.

It uses a two-stage investment process.

In the early years (the growth stage) it aims to grow savings over the long term by investing mainly in a well-diversified mix of international equities with the remainder in bonds and cash. It invests in a mix of different funds, from different fund managers, offering a mix of active and passive fund management, which means it doesn’t rely on the performance of one manager or management style alone.

In the six years before your target retirement year (the flexible target stage), we’ll progressively move you into less risky investments. We’ll also move part of your investment into cash in the final two years to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)

This fund is aimed at those who want to keep their options open at retirement. It uses a two-stage investment process.

In the early years (the growth stage) it aims to grow savings over the long term by investing in a diversified portfolio of UK equities (shares of companies), fixed interest securities (bonds), and cash, which meet the fund’s predefined ethical criteria. Its ethical criteria means the fund may have a bias towards small- and medium-sized companies.

In the six years before your target retirement year (the flexible target stage), we’ll progressively move you into less risky investments. We’ll also move part of your investment into cash in the final two years to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)

This fund is aimed at those who intend to buy an annuity (a type of guaranteed pension) on retirement.

In the early years (the growth stage) it aims to grow savings over the long term by investing in an equal mix of global equities (company shares) and UK bonds. It’s designed to track the markets it invests in, so performance should be similar those markets.

In the six years before your target retirement year (the annuity target stage) we’ll progressively move you into investments (currently long gilts and cash) with the aim of giving you more certainty about the size of annuity you can buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)

This fund is aimed at those who intend to buy an annuity (a type of guaranteed pension) on retirement. It uses a two-stage investment process.

In the early years (the growth stage) it aims to grow savings over the long term by investing mainly (generally at least 65%) in global equities (company shares) with the remainder in bonds (corporate and/or government bonds) and/or cash. It’s designed to track the markets it invests in, so performance should be similar to those markets.

In the six years before your target retirement year (the annuity target stage), we’ll progressively move you into investments (currently long gilts and cash) with the aim of giving you more certainty about the size of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)

This fund is aimed at those who intend to buy an annuity (a type of guaranteed pension) on retirement. It uses a two-stage investment process.

In the early years (the growth stage) it aims to grow savings over the long term by investing in an equal mix of UK and international equities (company shares). It’s designed to track the markets it invests in, so performance should be similar those markets.

In the six years before your target retirement year (the annuity target stage), we’ll progressively move you into investments (currently long gilts and cash) with the aim of giving you more certainty about the size of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)

This fund is aimed at those who intend to buy an annuity (a type of guaranteed pension) on retirement. It uses a two-stage investment process.

In the early years (the growth stage) it aims to grow savings over the long term by investing mainly in a well-diversified mix of international equities with the remainder in bonds and cash. It invests in a mix of different funds, from different fund managers, offering a mix of active and passive fund management, which means it doesn’t rely on the performance of one manager or management style alone.

In the six years before your target retirement year (the annuity target stage), we’ll progressively move you into investments (currently long gilts and cash) with the aim of giving you more certainty about the size of annuity you’ll be able to buy when you retire and to cater for your maximum tax-free cash entitlement, currently 25% of your pension pot.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)

This fund is aimed at those who plan to cash in their savings at retirement. It uses a two-stage investment process.

In the early years (the growth stage) it aims to grow savings over the long term by investing mainly (generally at least 65%) in global equities (company shares) with the remainder in bonds (corporate and/or government bonds) and/or cash. It’s designed to track the markets it invests in, so performance should be similar to those markets.

In the six years before your target retirement year (the cash target stage), we’ll progressively move you into less risky investments and then into cash. On your selected retirement date, your fund will be 100% invested in cash.

We review this fund regularly and may change it if we believe it’s in the best interests of investors.

View fund factsheet(Opens in new window)