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Updates to our Workplace Pension funds

From August 2024, we added the Prudential Dynamic Growth V (PDG V) Fund into the Prudential Dynamic Growth IV (PDG IV) Lifestyle Options.

This change impacted members at different times, depending on which PDG IV Lifestyle Option they were invested in.

Members who were less than 15 years from retirement weren't impacted.

We also made a slight change to the name of the PDG IV Lifestyle Options. See below.

Name of Lifestyle Option before the change Name of Lifestyle Option after the change
Prudential Dynamic Growth IV Targeting Annuity Prudential Dynamic Growth Targeting Annuity
Prudential Dynamic Growth IV Targeting Cash Prudential Dynamic Growth Targeting Cash
Prudential Dynamic Growth IV Targeting Drawdown Prudential Dynamic Growth Targeting Drawdown
Prudential Dynamic Growth IV Targeting Retirement Options Prudential Dynamic Growth Targeting Retirement Options

For more about Lifestyling and to see examples of how the change could impact an investment journey, please go to our information page.

We’ve closed the Prudential UK Smaller Companies fund and moved members' money to the Prudential UK Equity fund with effect from 19 November 2024. 

We’ve also redirected any future contributions due to be paid to the Prudential UK Smaller Companies fund into the Prudential UK Equity fund.

Closing fund Alternative fund
Prudential UK Smaller Companies Prudential UK Equity

We’ve chosen the Prudential UK Equity fund from our current fund range as the alternative fund as it has the most similar investment objectives to the fund we've closed.

Closing fund Alternative fund Date of closure
Baillie Gifford Sustainable Growth Prudential M&G Positive Impact 11 March 2024
Baillie Gifford Diversified Growth Prudential Dynamic Growth II 11 March 2024
Prudential Threadneedle Property S3 fund Prudential Dynamic Growth I S3 (PDGI) 19 January 2022
Prudential UK Property S3 Prudential Dynamic Growth I S3, or an alternative fund selected by an individual member or scheme. 22 June 2021
Prudential UK Property S1 Trustees of each individual scheme chose the alternative fund for the scheme and notified their members.Where trustees did not choose an alternative we moved members’ investments to the Prudential Discretionary S1 fund 3 June 2021
Prudential Threadneedle Adventurous Pathway Prudential Dynamic Global Equity Passive 25 January 2021
Prudential Threadneedle Balanced Pathway Prudential Dynamic Growth V 25 January 2021
Prudential Threadneedle Cautious Pathway Prudential Dynamic Growth III 25 January 2021
Prudential Threadneedle European Equity Prudential Europe Equity Passive 25 January 2021
Prudential Threadneedle UK Equity High Alpha Prudential UK Equity 25 January 2021

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"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at 5 Central Way, Kildean Business Park, Stirling, FK8 1FT. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company Limited. The Prudential Assurance Company Limited and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc which is a holding company registered in England and Wales with registered number 11444019 and registered office at 10 Fenchurch Avenue, London EC3M 5AG, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.