About the Select Pension Plan default fund
When opening a Select Pension Plan there are several different investment funds to choose from. However, if you are unsure about which funds to invest in and decide not to take financial advice, then you may want to consider our Select Pension default fund.
What is a default fund?
A default fund is a fund chosen by us and designed to help meet the specific needs, objectives and characteristics of our Select Pension Plan customers who are unsure about which funds to invest in and decide not to take financial advice.
What is the default fund for the Select Pension Plan?
We have chosen the Mixed 40-85% Shares Fund as the Select Pension default fund.
The aim of our default fund is to enable our customers to feel confident in their decision to open a Select Pension Plan and invest their money in a fund that has the potential to grow over the longer-term to help financially improve their retirement.
We believe this fund provides long-term growth potential through its asset diversification. This means that the fund is invested in a range of assets in the UK and abroad. These assets include shares (equities), bonds (fixed interest) and cash.
Download our Key Investor Information Document [PDF: 103KB] and Fund Factsheet for further information about the Mixed 40-85% Shares Fund.
The Mixed Portfolio 40-85% Shares is a risk level 4 fund (out of 6) which over the longer-term is suitable for customers who are prepared to take a medium level of risk with their investments for the potential of higher growth.
Download A guide to investing with NFU Mutual [PDF: 834KB] for information on our risk levels.
If this doesn’t sound like you, then you should consider a fund with a different risk level.
You should be aware that the default fund is not a personal recommendation. If you are unsure which fund is right for you, you should contact us for further guidance or take financial advice.
The value of the funds can fall and you may get back less than you invested.
You can get further guidance or speak to an NFU Mutual Financial Adviser by calling us on: 0800 980 8229.
NFU Mutual Financial Advisers advise on NFU Mutual products and selected products from specialist providers. Financial advice is provided by NFU Mutual Select Investments Limited. When you get in touch they'll explain the advice services they offer and the charges.
Frequently Asked Questions
You will remain invested in the default fund until you decide to take your pension benefits or choose to switch to alternative funds.
You can switch funds at any time by completing our Fund Switch and/or Payment Redirection Form [PDF: 76KB] or by calling us on 0800 980 8229.
We can change our default fund if we believe it is no longer likely to meet the needs, objectives, and characteristics of our Select Pension Plan customers who are unsure about which funds to invest in and decide not to take financial advice. If we change our default fund, we will give you notice before making the change. You can choose to switch to alternative funds if you wish.
Where your top up payments will be invested will depend upon how you top up your plan and the funds you are currently invested in:
Direct online
If you top up your Select Pension Plan through our online single payment form and you have only previously invested in the default fund, then your top-up payment will be invested in the default fund.
If you top-up your Select Pension Plan through our online single payment form and you are invested in other funds, then your top-up payment will be applied proportionally across your current funds, which may be different to your original investment.
Non-advised
If you top up your Select Pension Plan by speaking to a member of our non-advised team then you will be asked if you want your payment to be applied proportionally across your current fund(s), or you can choose alternative funds.