Your workplace pension
As part of your job, you’ll regularly pay into a workplace pension, and your employer will contribute too. These payments are invested in funds designed to grow over time, helping you build a pot of money for your retirement. If your employer has chosen Aegon to provide your workplace pension, they may have selected to manage it through Aegon Master Trust.
The value of investments and any income taken, can fall as well as rise and isn’t guaranteed. The final value of your pension pot when you come to take benefits may be less than you have paid in.
What is Aegon Master Trust?
The Aegon Master Trust is a type of workplace pension that combines contributions from multiple employers. A trust benefits from lower costs due to its larger scale, expert management by independent trustees and an extra layer of governance, ensuring decisions are made in the best interests of members like you.
In summary:
- Independent trustees ensure your pension is managed well
- Experts continuously oversee and monitor the investment funds
- Carefully selected funds simplify your investment choices
- Your best interests are at the heart of every decision made
Investment options through Aegon Master Trust
Offering choice and making decisions about where to invest your pension more manageable is an important part of what Aegon Master Trust do.
There are two ways you can invest your contributions through an Aegon Master Trust workplace pension:
A ready-made investment solution that adjusts over time to manage risk, designed for those who want their pension investments managed for them. This is commonly referred to as the ‘default’ option.
If you don't choose where to invest your pension, you'll automatically be invested in the default fund. This fund manages your contributions from the moment you join until you retire, aiming to grow your savings early on and gradually moving into lower-risk investments as you approach retirement. This option is ideal for those who want their retirement journey to be managed for them, however important to note that this does not take into account individual circumstances or retirement plans so may not be suitable for all.
Aegon LifePath Flexi
The default fund for Aegon Master Trust is Aegon Lifepath Flexi, however your employer may have chosen a different fund. You can check what the default option is for your scheme by logging into your TargetPlan account.
Aegon LifePath Flexi is a target date fund which adjusts the investment mix over time, focusing on growth in the early years and gradually shifting to typically lower-risk investments as retirement approaches. LifePath Flexi is designed for members who want to take a flexible income whilst remaining invested through retirement.
There are two alternative LifePath investment options. Aegon LifePath Retirement and Aegon LifePath Capital follow the same investment strategy as Aegon LifePath Flexi but target different outcomes at retirement (annuity and cash). This provides alternatives for members who like the idea of a fund that will manage their investments throughout their career, right up to retirement, but would like the option to take their benefits in a different way.
A core list of carefully selected investment funds providing manageable choices for those seeking alternative options to the default fund.
If you want to build your own portfolio, or if you feel that the default option isn't right for you, perhaps because it takes more or less risk than you're comfortable with, or because it's targeting an outcome that doesn't suit you, you can choose to invest in one or more funds from the Aegon Master Trust Fund Range.
The focused range offers 28 funds (as at 31/12/24) across different types of investments, world regions and investment styles and includes funds aligned with specific responsible investment themes and Shariah compliant options.
Log in to your online account to see the range of funds available and to switch funds. Select ‘View and manage’ and click on ‘Switch funds’.
Take control of your pension
Log into your TargetPlan account or download the Aegon UK app to explore your options and make changes anytime. It’s the quickest and easiest way to:
See where your pension is invested
See your investment options and switch funds
Update your personal details
Manage your contributions
Nominate beneficiaries
Change your target retirement age
Use our retirement planning tools
The value of an investment can fall as well as rise and isn’t guaranteed. The value of your pension pot when you come to take benefits may be less than has been paid in.
Need help choosing?
If you feel you need help choosing, you may want to talk to a financial adviser, who can help design an investment strategy that is specific to your needs. There may be a charge for this. If you don’t have one already, you can find onein your area by visiting MoneyHelper, or contact Origen Financial Services.
MoneyHelper gives free and impartial guidance to help make your money and pension choices clearer. Origen Financial Services Ltd, is wholly owned by Aegon UK plc but operate independently to us.
