Lifestyling has been adopted by the scheme but only applies if you build up defined contribution savings in the Investment Builder, and you are in one of the “Do It For Me” lifestyling options. Lifestyling means you don’t have to worry about choosing the funds, as our moving process aims to do this for you. But there are a few risks to be aware of before you decide if its right for you:
- Your investments move in line with your Target Retirement Age, regardless of market conditions. So, it may not always be the best time to move – we do move investments gradually to try to mitigate this.
- Check your Target Retirement Age is right – if we’re managing your investments for you this is important, as our aim is to make sure we’re investing your savings in the right place for when you come to take them.
- Your approach to risk may be different. You may want to stay invested in higher risk investments for longer to try and make them grow as much as possible or you may be more cautious and want to move to lower funds sooner.