The Scheme provides a wide range of investment options and the Trustee invests your DC pension pot in line with your investment choice(s). If you don’t make your own investment choice, for most members, the default option for your DC pension pot and any future contributions is the Flexible Income Strategy. You can make up to 12 changes to your DC investments per year free of charge. The value of your DC pension pot is not guaranteed and will rise and fall in line with the price of the investment funds used for your investment choice.
It is also worth noting that your Target Retirement Age (TRA) is important and you should regularly review the age at which you’ve chosen to take your benefits. This is because the automatic changes to the investment mix used by the targeted strategies (and the former Lifecycles) are based on the period to your TRA. If you don’t make a choice then the Trustee will set yours at 65.