What does the number in my fund name mean?

Customer viewing a computer tablet while drinking cup of coffee

This is the year you're set to retire in. Unless you’ve selected a retirement date yourself, this may be based on the scheme retirement age e.g. 65. Your savings are automatically transferred into this fund six or seven years before your selected retirement year*. 

So, for example, the Universal Lifestyle Collection 2025 fund is the fund that all those in the Universal Lifestyle Collection fund are transferred into if they’re retiring any time during 2025. The first thing you should check is whether you still intend to retire in that year. If not, you can change your retirement date.

Why is there no fund factsheet for the numbered funds?

We don’t produce specific factsheets for each retirement year, only for the fund in the growth stage.

Why does my plan retirement date not match my fund retirement date?

If you’re in one of our Aegon or Scottish Equitable pension products (plan numbers are usually six or seven digits long and may be prefixed with ‘UP’) we won’t automatically change the retirement date your fund is targeting to match your new plan retirement date. This can mean that your fund retirement date (the number in your fund name) is different from your plan retirement date.

In those circumstances you would have to ask us to change your fund retirement date too if you wanted the fund to be ‘ready’ for your plan retirement date. See ‘What if I don’t want to retire when I’d planned to?(Opens new window)(Opens new window)(Opens new window)’. If you do want your fund to target your new retirement date, just get in touch and we’ll switch you into the appropriate version of the lifestyle fund you’re currently in.

*This applies to the majority of Aegon’s lifestyle funds but some pension schemes have lifestyle funds that switch members into a ‘target-dated’ fund earlier or later. Check the fund factsheet(Opens new window) to find out when your fund starts switching. Some lifestyle funds incorporate the retirement year from outset and you will remain in this fund right through the growth stage up until retirement.