Access Keys

Support for your employees

Our Group Personal Pension Investment Proposition offers flexibility and choice through our ready-made and rigorously governed Pension Investment Approaches (PIAs), Premier Pension Investment Approaches (PPIAs) and our range of self-select funds.

As we stated to the market in 2016, and on the back of a trend towards customers increasingly choosing income drawdown, we have now changed our default glidepath to target flexible access across all our PIAs, regardless of risk profile (Cautious, Balanced or Adventurous). This change has been made for new pension schemes and existing customers in our default fund.


Our PIAs offer three risk categories to choose from: Adventurous, Balanced and Cautious. Their robust design aims to be relevant to the majority of employees while reducing their exposure as they move towards retirement. Our PIAs have delivered strong performance since launch in 2006*.

Following the introduction of Pension Freedoms we carefully re-designed our PIAs to allow clients to benefit from much more flexibility over how they can use their pension pot, especially around how they take their retirement income. They can now choose to target annuity, target encashment or target flexible access with each outcome designed to prepare their pension investment in its last five years for whichever retirement choice they expect to make.

You can read all about our range of PIAs in our Pension Investment Approach Guide.


Our Premier Pension Investment Approaches (PPIAs) build on our well-established Pension Investment Approaches. They aim for better potential returns while targeting broadly the same level of risk. These are available to Group Personal Pensions products, and you can find out more about the PPIAs in our short guide for employers.

Meeting the needs of your employees

Understanding the needs of your whole workforce is important when considering default funds. Keep in mind that not everyone will want the default option, so it’s worth taking some time to think about what can be done for those who want something different.

There will be employees who prefer greater choice and flexibility but who still want the peace of mind that the investment options they select are governed just as stringently.

As well as our established PIAs & PPIAs, employees can choose from a selection of over 100 funds from a range of managers, from a mix of passively-managed funds and actively managed funds with different levels of risk**. Unlike the PIAs & PPIAs these funds have no life styling, so members need to be comfortable about managing their own levels of risk.

Once the scheme has been set up, employees who want to will be able to switch funds online. Fund switches are free of charge.

Our Investment Decision Tool is a useful online resource for employees to identify which option may be right for them based on their attitude to risk and how they plan to take their benefits when they retire.

For more information about our Investment Solutions please speak to your adviser.


* Past performance is not a guide to future performance. The value of investments and income from them can go up and down and you can get back less than invested.


** An actively-managed fund is made up of investments which are selected by a fund manager. The funds are expected to beat a benchmark, typically a stock market index such as the FTSE 100. In contrast, passive funds do not involve any stock selection: they simply track an index or market rather than trying to beat it. These funds may hold all the assets in a given index, or a representative sample.


For employer use only.