Enhancements are being made by BlackRock this year (2023) to support LifePath funds.
Enhancements are being made by BlackRock this year (2023) to support LifePath funds. Changes to fixed income allocations will aim to offer increased growth opportunities for younger members and increased stability for those approaching retirement. Measures are also being introduced to help limit the impact of inflation and to review the fund’s foreign exchange policy (which determines the level of currency risk taken within the fund) to ensure the right level of currency risk is taken throughout the investment journey.
Although the long-term objective remains unchanged, the changes outlined above are designed to further support the fund in times of challenging market conditions and to limit any potential impact on savings.
These changes are due to be completed at the end of the year and the fund factsheets will reflect these changes. Your members can find this information by signing in to TargetPlan and selecting ‘View and manage’ from the Dashboard. Scroll to ‘Overview’ and select ‘Which funds have you currently chosen to invest your contributions in?’ When they click the link the fact sheet link displays and it can be opened from there.
The value of investments and any income taken can fall as well as rise and isn't guaranteed. The final value of a member's pension pot when they come to take benefits may be less than have been paid in.