We understand that your attitude to risk may change as you get older and that your plans for retirement may change for a number of reasons. You can therefore ask us to change your investment options at any time, both for your future contributions and for part or all of your existing account. One switch is free per year; more switches may incur additional charges. Remember that we need to know if your retirement is likely to be earlier or later than your Target Retirement Date – both may impact on your investments.
The Cheviot Lifeplan is designed to help ensure that you are invested in the right investment option for you at different stages of your life. The Lifeplan uses the number of years to retirement to select the most appropriate investment option for you and then reduces risk by automatically transitioning you through the options as you get closer to retirement. So if your plans change, tell us and the Lifeplan will automatically change your investments if necessary.
If you choose your own investment option, you will automatically be moved into the Retirement Planning and Cash options during the three years leading up to your Target Retirement Date. You can change your Target Retirement Date if you want to stay invested in the Cautious, Moderate or Growth options. Remember there is no lifestyling in the Low Cost, Cash and Pension Protection options.
If your plans change, tell us and Cheviot will automatically change your investments if necessary.
The information on this page does not represent financial advice and the Trustee strongly recommends that members take independent financial advice in connection with decisions relating to their pension fund.
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