The choice is yours
Annuity Target and lifestyle funds are designed for use by workplace pension schemes. If an employer selects it as their scheme's default fund, members who don't make their own fund selection will be automatically invested into it when they join their workplace pension scheme. This means they're invested from day one.
Your employer will have chosen it because they think it best meets the average needs of their workforce, and because they think that most members plan to buy an annuity on retirement. However, it may not be the best fit for you.
If you want more control over where your money is invested, you can select a fund that's more tailored to your needs. If so, please review our other investment options.
Your choice of investment fund can have a big effect on your pension benefits. If you're in any doubt about which fund's right for you, you should speak to a professional financial adviser. MoneyHelper gives free and impartial guidance to help make your money and pension choices clearer. If you don't have a financial adviser, you can visit MoneyHelper to find the right one for you.