You may have a few options when it comes to investing your money. These may include:
(If available)
If you’d rather not make your own investment choice this option could be for you. The default investment fund may be a single fund or a lifestyle option.
(if available)
This option is for members who want to take more or less risk than the default option. There are a range of lifestyles available which target a specific outcome as you get closer to taking your benefits.
If you’re comfortable choosing your own funds, you can choose up to 20 from the risk rated funds available. This could be a good choice if you’re happy being in charge of your investments and fully understand the risks involved.
As your pension is an investment, the value can go down as well as up and you might get back less than you put in.
During your working life, it's important to consider your retirement and the ability to enjoy life when you reach retirement. Saving into your workplace pension could help you do just that.
One of the benefits of your pension scheme is that your contributions are flexible. You can contribute as much as you like into your pension, although the total amount of tax relief you get on your pension savings is limited.
Auto-enrolment is a UK Government initiative aimed at helping more people save for the future through a workplace pension.
The money you save into your pension comes from your salary. There are different ways to make your contributions and they impact the tax savings you make.
Life isn't always as simple as we'd like it to be. Some things take us by surprise and those surprises can cost money. Your circumstances will change over time and so may the lifestyle you expect to have when you retire.