CHOOSE YOUR SCHEME

Welcome to the new look website, for members of a Lloyds Banking Group pension scheme.

If you joined the Group after 1 July 2010, you'll be a member of Your Tomorrow.

NOT YET A MEMBER?

If you’re an employee of Lloyds Banking Group and not a member of one of our pension schemes, it’s not too late to join, as long as you’re eligible.

IF YOU JOINED THE GROUP ON OR AFTER 1 JULY 2010

You’ll be automatically enrolled in Your Tomorrow on the day you join the Group. If you’re not yet a member, see joining.

IF YOU JOINED THE GROUP BEFORE 1 JULY 2010

HBOS colleaguesIf you were previously a member of the HBOS Group Money Purchase Scheme, or had the right to join, you became eligible to join Your Tomorrow from 1 February 2011.

Lloyds Bank colleaguesIf you were previously a member of a Lloyds Bank Pension Investment Plan (PIP), or had the right to join, you became eligible to join Your Tomorrow from: 1 August 2011 for non-Asset Finance and non-Commercial Finance colleagues 1 September 2011 for Asset Finance and Commercial Finance colleagues go to joining to find out more.

To view information about your benefits Log into YOUR PENSION
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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.

Lifeplan info graphic Lifeplan info graphic Lifeplan info graphic

Use our fund selector tool below to choose and find out more about the growth funds and approaching retirement funds available.

Choose your growth fund

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.

Choose your approaching retirement fund

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.

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.

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.

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.

Investment information

You can monitor how well your funds are performing, check the current value of your account and model what this might be worth at retirement, on Your Pension.

You can also look at the fund investment information, which shows you the past performance and unit price history, together with factsheets detailing how the funds are currently invested.

Cost-effective investments

Annual management charges (AMCs) cover investment management costs and are calculated as a percentage of the value of the investment funds. AMCs are deducted automatically from the funds by the investment managers, so are already reflected in the unit price of each fund. The Trustee has negotiated excellent rates with the investment providers to ensure the costs you pay are very low for the type of funds offered.

For details of the current AMCs, see the fund charges factsheet

The Trustee reserves the right to vary charges or introduce additional charges without prior notice to you, but if it does so, it will always aim to notify you as soon as possible.

Unit prices

Each fund has one unit price each day, whether you are buying or selling units, however, most of the underlying assets have a different buying and selling price. The fund’s single unit price can therefore be based on either the buying or selling price of the underlying assets in the fund, depending on whether the fund has to buy or sell more assets that day. This ensures that investors joining or leaving the fund pay or receive a fair price for their investments and are not subsidised at the expense of other investors in the fund.

The benchmark and the manager’s own stated performance figures are based on the mid-price (the average of the buying and selling price) and therefore do not take into account the difference between the buying and selling price that is reflected in the fund’s unit price.

The Trustee will regularly review the choice of funds available and make any changes necessary for meeting the funds’ objectives. These changes can apply to past contributions already invested in your account and future contributions. The Trustee also has powers to change the underlying managers, structure, operation and charges of each fund. Any changes can be made without prior notice but you’ll always be informed if you’re affected.