The Trustees have designed two lifestyle options specifically for members who do not wish to select from the ‘Own Choice’ fund range.

The Lifestyle options have been created from a number of the 'Own Choice' funds and follow set investment strategies with an automatic switching process as you draw closer to your Target Retirement Age (TRA). The Lifestyle options are designed with the following aims:

• to achieve long-term growth in excess of UK price inflation during the growth phase.
• to switch automatically into funds more appropriate to how you intend to take your benefits at retirement (to protect you against capital risk and pre-retirement risk during the de-risking phase).

The Lifestyle options - investment strategy during the growth phase

• The ‘Lifestyle’ option (or LO) – invests in the Global Equities (Passive Fund) during the growth phase. Between twenty years and five years prior to your Target Retirement Age (TRA), which is known as the de-risking phase, your savings  are gradually switched into the Diversified Assets - Active Fund. This is shown graphically below:

Investments in the last five years will depend on whether you choose cash, income drawdown, an annuity or a combination of all three.

• The ‘Adventurous’ Lifestyle Option (or ALO, formally known as the Specialist Lifestyle Option) – is a higher risk alternative because during the growth phase it's actively managed, investing only in the UK Equities - Active Fund until ten years from TRA. Between ten years and five years prior to your TRA your retirement savings will be gradually switched in to the Diversified Assets - Active Fund to reduce the downside investment risk for members within ten years of TRA. This is shown graphically below: 

Investments in the last five years will depend on whether you choose cash, income drawdown, an annuity or a combination of all three.

If you don't make an investment decision, then your savings will be invested in the default investment choice which is the 'Lifestyle' Option (or LO).

You can switch out of either of the Lifestyle options at any time by logging into the secure Plan website.