The advantage of a default fund is that your pension contributions are invested and managed for you, from the moment you join your scheme right up to retirement. A default fund aims to grow your savings during the early stages of your career, automatically changing your investments throughout your working life, before gradually moving into investments that are considered lower-risk as you approach retirement.
Default funds are ideal for those who prefer a hands-off approach to saving for retirement. However, they don’t take into account individual circumstances or specific retirement plans, so it’s important to ensure your investment strategy aligns with your financial goals as you may find you want to take your retirement savings in a different way.
It's also important to make sure you're happy with your target retirement age, as this may have an impact on your investment strategy.
Please remember, the value of investments isn't guaranteed and may go down as well as up. You may get back less than you invest.
Log in to your account to find out which fund or funds you're invested in, check your investments, or make changes.
Other investment options
We offer a range of alternative default funds in addition to our standard default, Aegon Workplace Default, that also have built-in lifestyling, meaning that they change what you're invested in automatically as you move through your working life towards retirement. These funds may be suitable if you're looking for a different retirement outcome, or risk level.
If you decide the default option for your scheme 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, there are other fund options available.
If you're looking for a ready made investment solution that doesn't follow a lifestyling approach, we offer a range of six Risk-Managed Portfolios, offering different risk levels. The funds provide access to expert asset allocation, risk-management and robust governance.
Finally, if you're a more confident investor or have a financial adviser to help you, Aegon Workplace Solutions offers you a huge choice of over 5,000 investment funds (as at 31 December 2023), from which to build an investment strategy tailored to your needs.
Log in to your account to explore the full range of options available to you, or go to our Fund research centre and search for a fund name or fund code to view the latest fund factsheets.
There's no guarantee a fund will meet its objectives.
The value of an investment 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 has been paid in. Before deciding to invest in a fund it's important to read the fund factsheet to find out more about where it invests, its objectives, charges and any fund-specific risks.
