Your Pension - Your Future 

You can decide how involved you want to be in where your ZCashBuilder savings are invested. 

• The default option:
  
  If you don't feel comfortable making a decision about where your savings are invested, or don't want to make a choice, then you don't have to do anything. If you choose this approach, you will be invested in the default lifestyle strategy.
  
  
• The lifestyle options:
  
  If you know how and when you want to take your retirement savings, but don't want to manage where your savings are invested then you may want to opt for one of the 3 lifestyle strategies. In the 10 years before retirement, your savings will be gradually moved into lower-risk investment funds, and then into investment funds designed to be appropriate to how you plan to take your savings: cash, drawdown or annuity purchase.
  
  
• The self-select options:
  
  If you want to choose and manage your savings are invested, then you may want to consider the self-select funds where you can choose from a range of 13 funds covering different types of investments. You need to regularly monitor your investments to ensure you remain satisfied with the level of investment risk and performance. Regular reviews will also enable you to make changes as and when you want to. The funds used in the lifestyle strategies are available to choose on an individual basis.

You don't have to make a decision on where to invest your pension savings. If you don't feel comfortable making a decision about where to invest, or you don't want to, then you will be invested in one of the default strategies.

• Drawdown Lifestyle
  
  This is where you will be invested if you have ZCashBuilder benefits only, or your final salary benefits are separate and you don't tell us where you want to be invested.
  


• Cash Lifestyle
  
  This is where you will be invested if you have both final salary benefits and ZCashBuilder benefits from the same period of service.

You can find out more about the default options in the investment guides.

If you want to choose your own investment funds, the table below shows the options available to you, grouped by asset class:

Lifestyle strategies

There are three lifestyle strategies to choose from, depending on how you think you may use your retirement savings:

• Drawdown
• Cash
• Annuity

As you get nearer to retirement, lifestyle strategies gradually move your investments into lower risk investment funds, and then into funds appropriate for how you plan to take your retirement savings.

You can find out more about the funds and lifestyle strategies in the investment guides.

Here you can find the current unit prices and performance information from Scottish Widows.

It is important to be aware that the value of any investments may go down as well as up. 

The fund, or funds, you choose each come with a charge to cover the costs of managing the investments and administering the scheme. Each fund has an individual charge which can be found on the factsheet or in the investment guide. These charges are a percentage of your total investment.

Each year the Trustee carries out a Value for Money assessment to check whether the charges you pay are value for money. You can find out more about their conclusions in the Chair's Statement, which is located in the Library section under Scheme Documents.

The Trustee has a responsibility to regularly review the investment options, including the defaults and these have to be carried out at least every three years. The Trustee may change, add or remove options from time to time both as part of an investment review or if it is considered necessary for another reason. If we make changes to the investment options, we will write and tell you.

• Investment guide
  
  This includes information on investment risks and some of the things you may want to think about when making an investment decision. It also explains more about the options available to you in ZCashBuilder.
  
  
• Webinars 
  
  Keep an eye out for our webinars on investment topics.
  
  
• MoneyHelper
  
  This is a government website which has lots of useful information on money and finances, including some information on investments. 
  
  
• Financial advice 
  
  You may want to talk to a financial adviser about investments and planning for your retirement.