Investment funds
The LifePlan strategy aims to grow your account in the early-to-mid stages of saving for your retirement, before switching to funds exposed to less risk as you approach retirement.
Use our fund selector tool below to choose and find out more about the growth funds and approaching retirement funds available.
Your Journey Extra
Characteristics
This fund invests across a diverse range of investments such as, but not exclusively, UK and overseas equities, fixed and index-linked interest bonds and cash. The mix of investment types reflects the intention that the fund should generally produce smoother returns than a fund wholly invested in equities, such as 'Global Journey'.
Aims
To produce strong long-term returns, comparable with those achieved by equity funds but with lower levels of volatility.
Who is it likely to be suitable for?
Even though the fund invests across a broad range of assets, its value will vary with market conditions. It is likely to be suitable for members who are still at least ten years from their target retirement age and who can afford to take some investment risk in anticipation of receiving stronger long-term returns. This fund is not considered suitable for members close to their target retirement age.
Your Journey
Characteristics
Similar to 'Your Journey Extra', this fund invests across a diverse range of investments.
Aims
The different mix of investment types means there is more investment in assets which are less volatile. This means the return is expected to have lower volatility than ‘Your Journey Extra’, and so does not aim to produce such high long-term returns.
Who is it likely to be suitable for?
Those who are still at least ten years from their target retirement age and who can afford to take some investment risk in anticipation of receiving strong long-term returns. It is most likely to be suitable for members who are prepared to sacrifice some expected return in exchange for smoother year-on-year performance. It is not considered suitable for members close to their target retirement age, unless members understand the risk.
Global Journey
Characteristics
This fund is wholly invested in world equities and has the potential to produce strong returns. It has the potential to be highly volatile, but the fact that the fund’s investments are spread over a range of stock markets should mean that the performance is less volatile than that of a fund wholly invested in a single country (or territory).
Aims
To produce strong long-term returns by investing in world equity markets.
Who is it likely to be suitable for?
Those members who are still at least ten years from their target retirement age and who can accept more risk in anticipation of receiving strong long-term returns. It is most likely to be suitable for members who wish to invest purely for long-term growth and are comfortable with volatility in performance and short-term capital values. This is why it is not considered suitable for members close to their target retirement age.
Your Destination (Increasing Income)
Characteristics
Invests primarily in assets which align the value of your account with the cost of buying a pension that increases in payment.
Aims
To eliminate the risk that the amount of increasing pension your account can purchase will reduce.
Who is it likely to be suitable for?
Members who are relatively close to retirement and intend to purchase a pension that increases in payment when they retire.
Your Destination (Level Income)
Characteristics
Invests primarily in assets which align the value of your account with the cost of buying a pension that does not increase in payment.
Aims
To eliminate the risk that the amount of level pension your account can purchase will reduce.
Who is it likely to be suitable for?
Members who are relatively close to retirement and intend to purchase a level (rather than increasing) pension when they retire.
Destination Cash
Characteristics
This fund invests in a range of cash and cash-like investments.
Aims
Although this fund is not guaranteed to either retain its value or increase, it aims to provide a high degree of capital protection and stability by providing a low-volatility return.
Who is it likely to be suitable for?
Members who are close to retirement and intend to take part of their account as tax-free cash and who wish to protect the amount of that cash sum. If you are in LifePlan and have selected tax-free cash, then a proportion of your account will be invested in this fund as you approach retirement.
The PersonalChoice strategy gives you greater choice and control over how and where your contributions are invested.
You choose from any number and combination of the 14 funds available, which includes all the funds available in LifePlan, plus an additional eight funds. What percentage of your contributions is allocated to which fund is entirely up to you.
Growth funds
Your Journey Extra
Characteristics
This fund invests across a diverse range of investments such as, but not exclusively, UK and overseas equities, fixed and index-linked interest bonds and cash. The mix of investment types reflects the intention that the fund should generally produce smoother returns than a fund wholly invested in equities, such as 'Global Journey'.
Volatility Medium
Potential reward Medium
Aims
To produce strong long-term returns, comparable with those achieved by equity funds but with lower levels of volatility.
Who is it likely to be suitable for?
Even though the fund invests across a broad range of assets, its value will vary with market conditions. It is likely to be suitable for members who are still at least ten years from their target retirement age and who can afford to take some investment risk in anticipation of receiving stronger long-term returns. This fund is not considered suitable for members close to their target retirement age.
Your Journey
Characteristics
Similar to 'Your Journey Extra', this fund invests across a diverse range of investments.
Volatility Medium
Potential reward Medium
Aims
The different mix of investment types means there is more investment in assets which are less volatile. This means the return is expected to have lower volatility than ‘Your Journey Extra’, and so does not aim to produce such high long-term returns.
Who is it likely to be suitable for?
Those who are still at least ten years from their target retirement age and who can afford to take some investment risk in anticipation of receiving strong long-term returns. It is most likely to be suitable for members who are prepared to sacrifice some expected return in exchange for smoother year-on-year performance. It is not considered suitable for members close to their target retirement age, unless members understand the risk.
Global Journey
Characteristics
This fund is wholly invested in world equities and has the potential to produce strong returns. It has the potential to be highly volatile, but the fact that the fund’s investments are spread over a range of stock markets should mean that the performance is less volatile than that of a fund wholly invested in a single country (or territory).
Volatility High
Potential reward High
Aims
To produce strong long-term returns by investing in world equity markets.
Who is it likely to be suitable for?
Those members who are still at least ten years from their target retirement age and who can accept more risk in anticipation of receiving strong long-term returns. It is most likely to be suitable for members who wish to invest purely for long-term growth and are comfortable with volatility in performance and short-term capital values. This is why it is not considered suitable for members close to their target retirement age.
Approaching retirement funds
Your Destination (Increasing Income)
Characteristics
Invests primarily in assets which align the value of your account with the cost of buying a pension that increases in payment.
Volatility Low
Potential reward Low
Aims
To eliminate the risk that the amount of increasing pension your account can purchase will reduce.
Who is it likely to be suitable for?
Members who are relatively close to retirement and intend to purchase a pension that increases in payment when they retire.
Your Destination (Level Income)
Characteristics
Invests primarily in assets which align the value of your account with the cost of buying a pension that does not increase in payment.
Volatility Low
Potential reward Low
Aims
To eliminate the risk that the amount of level pension your account can purchase will reduce.
Who is it likely to be suitable for?
Members who are relatively close to retirement and intend to purchase a level (rather than increasing) pension when they retire.
Destination Cash
Characteristics
This fund invests in a range of cash and cash-like investments.
Volatility Low
Potential reward Low
Aims
Although this fund is not guaranteed to either retain its value or increase, it aims to provide a high degree of capital protection and stability by providing a low-volatility return.
Who is it likely to be suitable for?
Members who are close to retirement and intend to take part of their account as tax-free cash and who wish to protect the amount of that cash sum. If you are in LifePlan and have selected tax-free cash, then a proportion of your account will be invested in this fund as you approach retirement.
Additional funds
The following are most likely to be suitable for:
Members who are still at least ten years from their target retirement age and who can afford to take more risk in anticipation of receiving strong long-term returns. These suit members who wish to invest purely for long-term growth and are comfortable with volatility in performance and short-term capital values.
Volatility High
Potential reward High
Asia Pacific (excluding Japan) Equity Fund
This fund invests wholly in stocks and shares in the developed Asia Pacific markets, excluding Japan.
Continental Europe Equity Fund
This fund invests wholly in European stock markets, excluding the UK.
Emerging Markets Equity Fund
This fund invests wholly in emerging markets.
Japan Equity Fund
This fund invests wholly in the Japanese stock market.
North America Equity Fund
This fund invests wholly in the North American stock market.
Property Fund
This fund invests wholly in UK commercial, industrial and retail properties.
UK Equity Fund
This fund invests wholly in the UK stock market.
The following is most likely to be suitable for:
Members close to retirement as well as other members who are prepared to sacrifice some expected long-term return (compared with investing in equities) in exchange for smoother year-on-year performance.
Volatility Medium
Potential reward Medium
Corporate Bond Fund
This fund invests in highly-rated sterling company-issued debt (corporate bonds).
If you decide to invest in PersonalChoice, it's important that you monitor your investments regularly to make sure they're still meeting your needs.
Changing your investment choices
You can change your investment strategy, investment funds and target retirement date at any time on Your Pension.