Workplace Solutions 

Your workplace pension offers you a wide choice of investments, over 4,500 (as at 1 July 2021). If this feels a bit too much, we've narrowed the choice down to make it easier for you to choose.

1. Do it for me

Your employer will have chosen a default fund or strategy for your pension plan, which you’ll be invested in if you don’t want to choose yourself.

2. Guide me

It’s also possible that your employer will have selected a shortlist of funds (scheme favourites) to help narrow down the choice for you.

3. Leave it with me

If you have the time and experience to build your own investment strategy, then you can choose from more than 4,500 investment funds.

If you don’t choose a fund yourself, your savings will be invested in the default fund chosen by your employer. You can find out what your scheme default fund is by logging into your account(Opens new window)(Opens new window)(Opens new window) where you’ll also find a fund factsheet and your current plan value.

Most default funds offer lifestyling, sometimes referred to as retirement target funds(Opens new window)(Opens new window)(Opens new window). These types of funds automatically change what they invest in throughout your working life, moving into lower risk investments in preparation for your retirement.

The investments they begin switching into (usually about six years from your retirement date) depend on the retirement outcome your employer has chosen. This could be annuity purchase(Opens new window)(Opens new window)(Opens new window), income drawdown(Opens new window)(Opens new window)(Opens new window) or cash(Opens new window)(Opens new window)(Opens new window).  You can choose a different retirement outcome if that would suit you better, in which case you can opt for a different fund – see our ‘Guide me' section.

If the default fund doesn’t suit you, perhaps because it takes more or less risk than you’re comfortable with or because it’s targeting an annuity when you’d rather stay invested, we have a number of options, including:

  • Other types of retirement target fund (our Workplace Target range)
  • Growth solutions – for building up your retirement savings
  • At or near retirement solutions – when you’re getting close to retirement

Workplace Target range

We offer a range of 10 workplace target funds, in addition to our main default fund, the Aegon Workplace Default. Like your scheme default fund, they have built-in lifestyling, which means they change automatically as you move through your working life towards retirement. They could be a good option if you don't feel you want to manage your own investment portfolio but want to choose a different retirement outcome or risk level from your pension scheme default fund. The range also includes an ethical option.

Growth solutions

If you don’t want a retirement target fund, and are still quite far from retirement and want to build up your pension savings, you can choose from one of our 17 ready-made growth solutions(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window).

Each fund is designed as a complete solution, a ready-made portfolio of investments that we manage for you. Like our retirement target funds you can choose the risk level that suits you. Just be aware that, as there’s no lifestyling strategy built in, you’ll need to review your choice of fund often, particularly as you get closer to retirement. You might then want to use our range of funds designed specifically for near or in retirement.

Near or in retirement

As you get closer to retirement, you may want to switch into one of our near or in retirement solutions, depending on whether your priority is to take an income or to preserve the value of your pension pot.


If you're a more confident investor or have a financial adviser to help you, Aegon Workplace Solutions offers you a huge choice of of over 4,500 investment funds from which to build an investment strategy tailored to your needs. 

You can hold up to 40 different funds at once. Explore the full range of investment options on Aegon Workplace Solutions.

You’ll need to review your choices often to make sure that your portfolio remains appropriate throughout your working life and particularly as you move into retirement. To get a few tips on what to think about when choosing investments, watch our investing the basics video.