LifePath

The LifePath funds are designed for members who don't want to make their own investment decisions, or who have reviewed the Self Select options and decided that a LifePath approach is best for them.

Where does LifePath invest?

The LifePath funds invest in a mix of different investment options. They aim to manage the risks associated with investments. So, when you are some time away from retirement, it invests your retirement account exclusively in equities with the aim of increasing the value. And as you get closer to retirement, they will invest in funds suited to the way you plan to take your retirement income you are invested:

  • LifePath Retirement Fund – if you aim to buy a regular guaranteed income from an insurance company (annuity).
  • LifePath Flexi Fund – if you aim to take the maximum tax-free cash sum (25% of the value of your account) and transfer the rest to a specialist income drawdown arrangement.
  • LifePath Capital Fund –  if you aim to take a cash lump sum. This is the default investment option for the AkzoNobel Benefit Builder. If you haven't made an alternative investment choice, this is where your money will be invested.

Click here to access the relevant LifePath fund facstheets.

What age can I retire?

The LifePath funds are targeted to the age you plan to retire, known as your Selected Retirement Age (SRA). When you join the Plan, your SRA is set at your State Pension Age. The earliest SRA you may choose is 55 (unless you joined the Plan prior to 6 April 2006, when the earliest age you can choose is 50).

Action Point

Change your SRA online at http://mychoice.towerswatson.com

It is important that you carefully consider your SRA as the balance of your LifePath investments depends on the number of years to your retirement. If, for example, your SRA is 65 but you retire earlier than that, it is possible that you may be invested in inappropriate assets in the run up to your retirement.

Find out more

You will find information on the investment funds online at http://mychoice.towerswatson.com

The LifePath fund is designed for members who don't want to make their own investment decisions, or who have reviewed the Self Select options and decided that the LifePath approach is best for them.