The Aegon Workplace Default fund is designed to grow your savings over the long-term by investing in a diversified mix of investments. Six years before your target retirement date, the fund gradually and automatically moves into investments considered to be less risky.
It’s a type of lifestyle fund meaning it adapts to meet your changing needs as retirement nears.
Watch our short video below for more details.
Key features
Single fund solution
A whole investment portfolio in a single fund, that automatically adjusts as retirement nears, preparing savings to provide a retirement income.
Diversified
Helping to spread investment risk across a range of asset types and regions.
Good value
Low fund charge of just 0.05%, paid in addition to the annual management charge, meaning more of your money goes towards saving for your future.
Robust governance
Backed by our Funds Promise, we check the fund follows the stated objective and that as the market, and your needs, evolve the fund does too.
Considers ESG factors
We've reduced the fund's carbon footprint by 57%¹ since 2020 (as at 31 March 2026).
How the Aegon Workplace Default fund works
Growth stage
In the early years the fund invests in a well-diversified mix of equities (shares in companies) and bonds (loans to governments or companies), designed to provide the average-risk investor with long-term growth potential.
To keep costs low, the fund uses passively managed investments, which aim to produce returns broadly in line with the markets they track before charges.
Growth stage asset allocation
As at 30 June 2025. Please view the fund factsheet for up to date asset allocation information.
Pre-retirement stage
Six years before you reach your target retirement date the fund gradually and automatically moves you into investments that are generally considered to be less risky.
This process, known as the glidepath, continues until your target retirement date is reached.
Glidepath
As at 30 June 2025.
At retirement
When you reach your target retirement age, you remain in the retirement stage asset mix unless you switch to another fund. At this stage, you will be invested in a cautious asset mix that aims to provide continued, moderate growth, with some potential for income generation, so you don’t need to make a decision immediately.
This recognises that you may wish to stay invested in early retirement, but may choose a variety of ways to build your retirement income.
At retirement asset allocation
As at 30 June 2025. Please view the fund factsheet for up to date asset allocation information.
The value of investments may go down as well as up, and you may get back less than you invested. We may change the fund at times to ensure it continues to meet the needs of scheme members.
How the fund integrates responsible investment factors
We believe that the way we invest can make a meaningful difference, both to investors’ financial futures, and the world we live in.
In 2019 we committed to net-zero greenhouse gas emissions for our pension default fund range by 2050 and to a 50% reduction in emissions by 20302. By March 2026, we'd reduced greenhouse gas emissions in this fund by 57%1.
As at March 2026 85% of the money managed in the growth stage (57% in the retirement stage) of the fund, is in investments that incorporate ESG screens.
Where these ESG screens apply, we exclude companies that are involved in certain types of industries, for example controversial weapons, tobacco, or thermal coal extraction, and those who have breached the United Nations Global Compact principles. These are examples only, not an exhaustive list. Minimum investment thresholds may apply, for example stating that companies must not derive more than 5% of revenue from excluded activities.
After excluding these types of firms, the asset mix is adjusted to favour companies with stronger ESG scores over companies with weaker ESG scores.
1 Measured using carbon footprint since 2020 for scope 1 and 2 emissions from listed equities (shares) and corporate fixed income (bonds) only.
2Measured using carbon footprint across our full range of default funds. Emissions targets don’t apply to individual funds. 2030 target applies to scope 1 and 2 emissions from listed equities and corporate fixed income only.
The choice is yours
The fund is designed to meet the needs of the 'average' workplace scheme member. You may prefer a fund that's tailored more to your individual needs. If so, please review other investment options.
If you're not sure which fund's right for you, you should speak to a financial adviser. If you don't have one, you can find one at MoneyHelper, or at Origen. Origen Financial Services Ltd is wholly owned by Aegon UK plc but operates independently. There may be a charge for advice.