What is a default fund, and should I be concerned if I’m in one?
A default fund is a type of lifestyle fund(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window) that members of a pension scheme are invested in if they don’t choose a fund when they join their scheme.
Your Retirement Planner(Opens new window)(Opens new window) can help you work out your options at retirement. If you’re in any doubt, you may want to talk to your financial adviser. If you don’t already have one, you can find one near you at unbaised.co.uk(Opens new window)(Opens new window).
The value of investments can fall as well as rise meaning the final value of your pension plan may be less than the amount invested.
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. If you don't already have one, you can find one near you at unbiased.co.uk(Opens new window).