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Can I choose how my pension is invested?

You've got options, lets make them clear

Your pension isn’t just a savings pot. It’s invested in different types of funds to help it grow over time. You can choose where your money goes, whether that’s higher-risk growth funds, lower-risk, or options that reflect your values.

You might want to review your investments if your goals, risk level, or retirement plans change. Or if you're simply curious and want more control over how your money is working for you.

Take a moment before you make any changes

Switching investments can have a big impact on your future savings, for better or worse. That’s why it’s worth pausing to understand the full picture before you act.

We recommend speaking to a Thrive financial coach before you make any changes. They will help you understand your options and what might work best for you. You can book a session through the Thrive app.

What kind of funds are available?

Smart Pension, our pension partner, offers a wide range of fund options, including:

  • Self-select funds, where you pick and manage your own mix of:

    • Equities

    • Bonds

    • Cash

    • Multi-asset funds, including risk-rated options

    • Shariah-compliant fund

    • Impactful and ethical funds, including a fossil fuel-free fund

Smart Pension also aims to positively integrate Environmental, Social and Governance (ESG) factors into its investments. The Smart Sustainable Growth Fund, for example, has a goal of being net zero by 2040.

How the default investment strategy works

If you don’t choose your own investment funds, don’t worry. You’ll be placed in a default strategy, which is invested in the Sustainable Growth Core Fund and designed to work well for most members.

Here’s what happens. While you’re building up your savings, your money’s invested in a mix of assets, like shares, bonds and alternatives. These are picked to help your pot grow steadily and outstrip inflation.

Then, from 8 years before your chosen retirement age, your investments start to shift gradually into lower-risk options, like government bonds and other fixed income products.

This happens step by step, helping to protect what you’ve built and reduce risk as retirement gets closer.

How to make a change

To update your pension investments, you’ll need to speak to Smart Pension directly.

Here’s how:

  • Call Smart Pension on 0333 666 2626

  • Have your National Insurance number ready. You’ll also need a few personal details and they’ll ask some quick security questions before they can make any changes

  • Let them know you’d like to review or change your pension investments

  • They’ll guide you through the process

You can make changes at any time, but it’s a good idea to understand the risks and long-term impact first.

Need help?

If you’re not sure where to start, or you just want someone to talk it through with, book a session with a Thrive coach in the app. Or get in touch with our Customer Support team – we’re here to help you feel confident in your next step.