What is a lifestyle fund?

Our Lifestyle and Workplace Target funds automatically change as you near retirement, getting your savings ready for when you need to harvest an income from them.

What is a lifestyle fund?

Lifestyle funds, now often referred to as retirement target or target dated funds, are the most common type of fund used by pension schemes as a default fund for members who don't choose their own fund. 

They’re designed for savers who don’t make active fund choices over the course of their working life, and aim to do the hard work for you.

Retirement target stage

This stage happens in the final years before you’ve told us you want to retire.


We recognise that your priorities are likely to change as retirement approaches, so we automatically start to move your fund into investments designed to prepare you for the retirement outcome your fund is targeting.

The investments you move into will depend on whether you're intending to buy an annuity (guaranteed income), stay invested or cash in your savings.


For example, Flexible Target funds(Opens new window)(Opens new window)(Opens new window) are designed for people who don’t yet know how they’ll take an income in retirement, and want to keep their options open by staying invested.


They may also suit those who want to build up an income using a mix of different approaches.

We also offer lifestyle funds for those who already know that they want to buy an annuity or cash in their savings. Find out more using the links below.

Speak to a financial adviser to find out more