Together we can be more FutureWise

The FutureWise Target Date Funds are being run by Fidelity in close collaboration with BlackRock. The underlying funds will be established and managed by BlackRock in accordance with fund specifications defined by Fidelity.

No, it's not mandatory to remain in FutureWise. This is the investment option that is used normally by members of a pension scheme who do not actively choose where to put their money.

You are free to choose your own selection of funds through the ‘self-select’ option which means you will be responsible for managing your own investments. While FutureWise may be your scheme’s default strategy and has been designed to suit the needs of many different members, you should review it regularly to ensure it continues to be right for your needs. 

If you're not sure what to do about your investments, you should consider taking financial advice. This is especially important if you have already made a withdrawal from your pension or are thinking of doing so in the next five to ten years, as the choices you make will affect how much you have for your retirement.

A Target Date Fund is a fund that is carefully managed towards a specific time period in the future (which we call its ‘target date’). Each fund will aim for higher growth (which is not guaranteed) when it is a long way from the target date, investing in higher-risk investments such as company shares. Then, at a set number of years before its target, the fund will start to reduce the level of risk it takes on by gradually moving some of its assets out of company shares and into lower-risk investments, such as bonds. Please note bond investments still carry risk. The level of that risk can be higher in volatile markets, during periods of unpredictable and sometimes sharp price and interest rate movements, which means that the value of your investments can fall in value dramatically during those periods.

Our FutureWise Target Date Funds are designed for savers who wish to remain invested at their point of retirement and take a regular income from their fund. Target Date Funds may not be suitable for savers with less than 5 years to taking their benefits who wish to either withdraw their benefit as cash or buy an annuity, which is a financial product that pays a guaranteed income for life. 

There are currently 11 Target Date Funds. More will be launched over the coming years and no less than 30 months after each fund reaches its target date, the fund will close and its money moved into the Fidelity FutureWise Retirement Fund. The funds currently range from 2025 to 2070, with dates every five years. If your selected retirement date changes, you can change this on PlanViewer so that Fidelity can then move your investments to the most appropriate target date fund based on your selection. This is why it's important to review your retirement savings regularly to make sure they meet your retirement goals, and also that the selected retirement age we hold is up to date and fits in with your plans.

FutureWise is an investment strategy that aims to build up your savings. When you are a long way from retirement, it could be appropriate for any type of retirement income. As you get closer to retirement, FutureWise changes investments to be suitable for income drawdown so you may want to consider aligning your investments to the way you want to take your income if you are thinking about cash or an annuity. That said, even if you are invested in FutureWise when you retire, you have access to all the retirement income options offered by your workplace pension.

Your money will be invested in the fund that aligns most closely with your ‘selected retirement age’ currently shown in your pension. Please note that if you haven’t chosen a retirement date, it will be your pension plan’s normal retirement age. You can find this information by logging into PlanViewer and accessing your Plan documents in your personal profile.

Yes, you can and this may be appropriate if Target Date Funds are no longer suitable for you for example, where you plan to buy an annuity or withdraw your pension as cash in the near future. However, you don’t need to where your ultimate plan is to draw down from your pension plan to provide a regular income in future. 

As long as you keep your chosen retirement age up to date on PlanViewer, we will ensure you are in the correct Target Date Fund for that age. If necessary, we will automatically move your money between funds to ensure you have the correct one. 

To update your retirement age, just go to planviewer.co.uk, select ‘My profile’ in the top right, choose ‘Personal Information’ and then go towards the bottom of the page to edit ‘Date Selected for Retirement’.