Your workplace pension
As part of your employment, you’ll make regular contributions to a workplace pension, and your employer will contribute too. These contributions are invested in carefully selected funds that aim to grow your savings over time — helping you build a solid foundation for your retirement
If your employer has chosen Aegon to manage your workplace pension, it may be administered through TargetPlan, which provides a variety of funds and investment options to you. Although, ultimately, you have the flexibility to decide how your contributions are invested.
The value of investments and any income taken, can fall as well as rise and isn’t guaranteed. The final value of your pension pot when you come to take benefits may be less than you have paid in.
TargetPlan investment options
TargetPlan is designed to simplify your investment choices by providing flexible options to suit a range of needs, no matter how involved you want to be. There are three ways to invest your TargetPlan workplace pension and you can change your investment choice at any time:
1. Do it for me:
A ready-made investment solution that adjusts over time to manage risk, designed for those who want their pension investments managed for them. This is commonly referred to as the ‘default’ option.
If you don't choose where to invest your pension, you'll automatically be invested in your scheme's default fund. This means your savings are managed for you, from the moment you join your scheme until you retire, aiming to grow your savings early on and gradually moving into investments that are considered lower-risk as you approach retirement. This option is ideal if you want your retirement journey to be managed for you, however it's important to note that this option doesn't take into account individual circumstances or retirement plans, so may not be suitable for all.
The standard default option for TargetPlan is Aegon Lifepath, however your employer may have chosen a different fund. You can check what the default option is for your scheme by logging into your TargetPlan account.
2. Guide me:
A core list of carefully selected investment funds providing manageable choices for those seeking alternative options to the default option.
If the default option isn't right for you, perhaps because it takes more or less risk than you're comfortable with, or because it's targeting an outcome that doesn't suit you, your employer may have selected a shortlist of alternative funds to choose from. You can check if your employer has selected a core fund range in your Investment Options guide, which you can view by logging into your TargetPlan online account then selecting ‘View and manage’ and clicking on ‘Documents’.
3. Leave it with me:
A wide range of investment funds covering all major asset classes and regions for confident investors who want to build their own portfolio.
If you are a confident investor with the time and experience to build your own portfolio, or can take advice from an adviser, you can choose from the full range of funds available to your scheme. You’ll need to actively manage your investments as these funds may not adjust over time to manage risk for you.
Log in to your TargetPlan online account to see the range of funds available to you and how to switch funds, by selecting ‘View and manage’ and clicking on ‘Switch funds’.
Responsible investments
At Aegon, we're committed to responsible investment and believe that the way we invest your savings can make a meaningful difference, both to your financial future and the world we live in. Investing in well-governed companies that monitor and manage their environmental and social impacts well, may help contribute to better long-term growth potential for your savings. By using our expertise and influence, we can help encourage positive change, helping to contribute to a fairer, more sustainable society for us all.
We offer a range of funds that consider environmental, social and governance (ESG) factors, so you can choose where your money is invested and invest in line with your beliefs. Find out more about our approach to responsible investment.
Take control of your pension
Log in to TargetPlan online or download the Aegon UK app to explore your options and make changes anytime. It’s the quickest and easiest way to:
- See how and where your pension is invested
- View your investment options or switch funds
- Update your personal details
- Manage your contributions
- Nominate beneficiaries
- Change your target retirement age
- Use our retirement planning tools
Please remember, the value of an investment can fall as well as rise and isn't guaranteed. The value of your pension pot when you come to take benefits may be less than has been paid in. Before deciding to invest in a fund it's important to read the fund factsheet to find out more about where it invests, its objectives, charges and any fund-specific risks.

Aegon LifePath funds
Your employer may have selected one of our LifePath funds as the default option for your scheme. LifePath is the main default option for TargetPlan workplace schemes.

Aegon LifeStyle funds
Your employer may have designed a lifestyle strategy specifically for your scheme. A lifestyle strategy automatically changes what it invests in as you get closer to retirement.

Responsible investing
Find out more about our approach to responsible investing.
Financial advice
If you feel you need help choosing, you may want to talk to a financial adviser, who can help design an investment strategy that is specific to your needs. There may be a charge for this.
If you don’t have an adviser already, you can find one at MoneyHelper.