Retirement focus

If you are in the default lifestyle strategy, your savings will move into the Retirement focus fund three years before your target retirement age.

The default Retirement focus

If you’re not sure yet what to do at retirement:

  • If you make no Retirement focus selection or you haven’t decided yet how you would prefer to access the money in your pension pot, the default option will:
    - move 25% of your money into the Cash fund
    - move 25% of your money into the Annuity protection fund
    - leave 50% in the Cautious Growth fund
  • The annual charge for the default option is 0.43%

You may already know how you intend to take your pension pot when you retire. If so, you can select the retirement focus option to suit you.

You can do this by logging into your account and then selecting Change Investment Strategy. 

Your Retirement focus options

The Trustee has created three further Retirement focus options for you if you do not wish to be in the default. According to your choice, your money will be gradually and automatically moved into funds which fit with your plans. You can choose:

  • If you want to continue to invest your money in a drawdown arrangement so you can take cash as and when you want to, you can choose the invest into retirement option. This will:
    - move 25% of your money into the Cash fund
    - leave 75% in the Cautious Growth fund
  • The annual charge for the invest into retirement option is 0.50%
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  • If you plan to buy an annuity with your money so you can have a guaranteed income for life, you can choose the income for life option. This will:
    - move 25% of your money into the Cash fund
    - move 75% into the Annuity focus fund
  • The annual charge for the income for life option is 0.29%
  • If you want to take your entire pension pot as one cash lump sum, you can choose the Cash option (25% is tax free but the remainder may be taxed).This will:
    - move 100% of your money into the Cash fund
  • The annual charge for the cash option is 0.25%