The fourth step is to decide how you want your investments to be managed. The Plan allows you to choose between investing either in one of the two Lifestyle options or in our range of 11 'Own Choice' funds.

What are the Lifestyle options?
The Trustees have designed two Lifestyle options to specifically for members who do not wish to select from the 'Own Choice' fund range. These aim to manage the investment risks for you through pre-determined strategies. If you invest in one of the Lifestyle options, you will be asked to select your Target Retirement Age (TRA). If you don't select a TRA then it will be taken as 65. This age may not be the same as your State Pension age (SPA). 

When you are younger, your retirement savings are invested in funds which target long-term growth - this is known as the growth phase. As you approach your Target Retirement Age, your retirement savings will be moved automatically into the de-risking phase. This means that your savings are gradually moved into investments more appropriate to how you intend to use your retirement savings when you retire.

What if I want to choose my own investments?
The Plan's 'Own Choice' funds give you the freedom to choose and manage your own mix of investments to suit your personal circumstances from the 11 funds available under the Plan.