A lifestyle strategy automatically changes what it invests in as you get closer to retirement. This is where you’ll be invested if you don’t choose your own investment fund.
Below we give examples of the typical types of lifestyle strategy, but you’ll have to sign in to your TargetPlan account and go to View and manage to find out about your specific lifestyle option. You’ll also find details of the default option for your scheme in your Investment options brochure in the Documents tab.
What are lifestyle strategies?
Lifestyle strategies are designed to be simple. They offer a single investment option or fund that automatically changes what it invests in as you move through your career towards retirement. They all have certain features in common. They aim to grow your pension pot over the course of your working life, then gradually switch into different investments as you get close to retirement. The types of investments they switch into depends on the retirement outcome you’re targeting – cash, annuity or flexible (see below for details).
There are three main types of lifestyle strategy or fund:
You have lots of choice about how to access your retirement savings. We're here to help. Our website, Your Retirement Planner, has information and tools to help you understand your options when you get close to retirement.