Investment decisions leading up to retirement

If you’re less than 12 months away from your Target Retirement Age, you’ll probably already know how you intend to take your money and, hopefully, your pension savings will be invested accordingly.

However, if you haven’t given this much thought, you need to ask yourself two important questions:

Is my Target Retirement Age still right for me?

If you think you may not be able - or want - to take your money at your Target Retirement Age, you have the option to delay taking it.

See ‘If your plans change' for more information.

Do my current investments reflect the way I intend to take my money?

Assuming you still intend to take your money at your Target Retirement Age, you can choose to take it as:

Take your whole Plan savings in one go
Get a regular income (annuity)
Flexible Income. This is available if you transfer your Plan savings to an external pension provider
Transfer to another provider
Transfer to the Legal & General Mastertrust Pension Access Scheme

So, it’s important, if you haven’t already done so, to ensure your Plan savings are invested in a way that matches how you plan to take your money.

We have a range of funds and lifestyle profiles that can help you to do this.

For more information about the things you’ll need to think about please go to 'Investing as you approach retirement'.

There are also some additional considerations to be taken into account if you’re thinking of:

Investing in a lifestyle profile

It’s important to be aware, should you choose to invest in a lifestyle profile, at this late stage, that this type of investment normally works best for member who invest in one at least three years before their Target Retirement Age.

Leaving your Plan savings invested

If you intend to leave your Plan savings invested beyond your Target Retirement Age, it’s important to make sure you are invested in a fund that offers a balance between protecting your savings and providing sufficient investment growth to support your requirements for income.

It's a good idea to speak to a financial adviser who can look at your personal circumstances and help you choose the right option. You can find a financial adviser at Moneyadviceservice.