CHOOSING YOUR OWN FUNDS
If you decide the default fund is not right for you, there are many other investment options.
IS THE DEFAULT FUND RIGHT FOR YOU?
This is a really important question. The default fund is selected with an average pension member in mind – but it cannot be right for everyone. This is because everyone’s investment goals are different. Consider the people you work with – for some, retirement may be a long way off. For others, it may be just around the corner. Some people are willing to take on more risk in the hope of getting a bigger pension. Others may be more wary. Whatever the situation, choosing the right investments can make a big difference to your pension pot. Remember, the better your investments perform, the bigger your pension pot.
MAKING YOUR OWN DECISIONS
You don’t need to be an expert to make changes to your pension. Choosing a different fund still means you have a fund manager investing the money carefully for you. What’s more, you can choose more than one fund if you like – alongside or instead of, the default fund. We don’t charge any extra for this, but different funds will have different charges.
If you want to choose your own funds, there are a number of ways we can help. We have highlighted three simple investment ideas to consider – one Adventurous, one Balanced and one Conservative. We call them the ‘ABC Funds’. You can find out more about the ABC Funds on your workplace pension website or by calling 0117 314 1795. The ABC Funds could be a useful starting point for investing your workplace pension but they are not personal advice. Please note: if you hold an ABC Fund which is removed from the list, you will not be transferred out of the fund automatically. If you want to change at that point, you will need to make a decision to switch yourself.