Your investment change
Project support
Welcome to your dedicated project support site
This page is designed to provide you with all the information about your investment change. You’ll find supporting information about the change, timings and sample member communications. As well as access to information about any key information about interruptions in service to keep in mind for you and your members.
Target date funds are funds that enable groups of pension savers that are all targeting a similar retirement date, to save together in a single investment fund. An individual chooses a fund based on their estimated retirement date and will stay in that one fund to and through retirement.
The mix of assets within the fund changes over time to reflect the needs of scheme members as they approach – and surpass – their target retirement date.
Communications
We will provide examples of the emails and letters that members will receive in early 2026. The communications will:
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Explain what’s changing and when it will happen
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Provide a summary of changes to their terms and conditions and what they mean
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Give information about their new fund
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Explain any actions they need to take
View our member materials about your new default fund.
Frequently asked questions
We have decided to phase out the use of the Multi-Asset Fund 5-Year 25% Cash Lifestyle Profile and some older legacy lifestyle profiles as default fund options for our members. Instead, we will offer the Target Date Fund range (TDF) as the main default fund for Stakeholder. This decision has been approved by the Independent Governance Committee (IGC).
In order to introduce Target Date Funds (TDFs) for Stakeholder we have updated our terms and conditions.
The key changes are to introduce TDFs as the default investment option, to describe how they work and to clearly explain to members how they will be charged.
The switches are planned for Q2 and Q3 2026.
Our communication approach will provide members with 60-days’ notice of the change and will include details of what to do if they wish to opt out of the switch to the new default.
We will update this page with a detailed timeline early in the new year.
There is an additional fund management charge of 0.02% for the Target Date Funds.
Although the Target Date Funds have a slightly higher FMC than the previous default investment, we believe they will produce a better outcome at retirement for members, although this cannot be guaranteed
We will update the default investment on the scheme to TDF approximately 3 months prior to the switch of members funds. Any new joiners will be invested in the TDF. You will therefore need to review and update any internal member communications that reference the Multi-Asset Fund 5-Year 25% Cash Lifestyle Profile or legacy lifestyle profiles.
There will also be blackout periods, during which you cannot submit pension contributions via our online portal. We will provide more information on when these blackout periods will take place in the new year.
We will provide examples of the emails and letters that members will receive in early 2026. We will also add a copy of the updated terms and conditions for the product. In the meantime, you can see the support page for members in the communication section above.
During the blackout periods, we will be carrying out the necessary transactions to switch members into the new funds. During these periods members unit holding need to be static i.e. no new contributions are being invested.
We may switch members funds over two dates to reduce any transaction costs. During the first blackout we will switch members into a temporary, transitional investment. During the second blackout we will switch members into their new funds.
Yes – however, we will aim to minimise this by transitioning clients together on the same switch dates for efficiency and in some cases over two dates to reduce transaction costs.