Lifetime plans
Our Lifetime plans automatically adjust how your pension is invested, balancing opportunities for growth with risk as you move towards retirement.
Your pension pot value can go up or down, but staying invested can help it grow
Our Lifetime plans
We offer three Lifetime plans. Each takes a different approach, but all balance growth and risk as you move towards retirement.
Penfold Lifetime
Our default option, balancing potential returns with risk.
Multi-asset Lifetime
Invests across a mix of assets, with the balance changing as you move towards retirement.
ESG Lifetime
Similar to Multi-asset Lifetime, with more consideration given to environmental, social and governance factors.
Pension plans that manage themselves
Our Lifetime plans are designed to make investing your pension simple. Your investments automatically change as you move towards retirement, so you don’t need to manage them yourself.
When retirement is further away, more of your pension is invested with growth in mind. As you get closer to retirement, your investments gradually become more cautious. We’ll manage these changes for you and let you know when they happen.
How does it work?
Your Lifetime plan automatically changes how your pension is invested as you move towards retirement.
- Stage 1: Growth
When retirement is further away, more of your pension is invested in assets such as stocks and shares. These have greater potential for growth, but can also rise and fall more in value.
- Stage 2: Preparation
As you get closer to retirement, your investments gradually become more cautious. This helps reduce the impact of market ups and downs on your pension.
- Stage 3: Protection
Closer to retirement, your pension moves towards lower-risk investments while keeping some invested for potential growth. This helps prepare your pension for the way you plan to access it.
In collaboration with BlackRock
We work with BlackRock, one of the world’s largest investment managers, to help manage the investments in our Lifetime plans.
Your pension is spread across a wide range of investments using BlackRock funds. This helps diversify your pension rather than relying too heavily on any one company, market or type of investment.
Together, we manage how these investments change over time, balancing opportunities for growth with risk as you move towards retirement.
