Managing how your contributions are invested
When you join the Uniper Pension Plan (UPP) a pension account is set up in your name.
This is kept separate from the Company’s assets.
The money you and the Company pay into your pension account each month is then invested, with the aim of growing your savings over time.
How much you get when you retire, largely depends on how much you have paid in and how your investments have performed. That is why it is important that you understand your options, and check your investments regularly to make sure they are still working for you.
Please select from the options below to find out more.
Your investment choices
You control how your pension account is invested, and you can change your investment choices at any time .
You can choose too either:
- Self-select – that means you can choose your own fund or funds from a wide range offered by the UPP administrator, Fidelity and other investment managers.
Have your pension account allocated for you - this is known as a default strategy.
Select from the relevant option below to find out more.
If you do not actively choose either of these options, your pension account will be automatically invested in the default strategy. This is currently called FutureWise and is made of Target Date Funds. You can find more information in the Default Strategy section below.
Always remember there is a risk that the value of investments can go down as well as up.
Self-selecting your funds
If you feel comfortable looking after your own investments then you can decide where your pension account is invested, based on a wide range of funds offered by the UPP administrator, Fidelity and other investment managers.
When making your decisions, you should think carefully about your attitude to risk and reward. Remember, all funds come with a level of risk and can experience rises and falls over the short to medium term, but risk gives you the chance to increase the growth potential of your account as well.
You can find a full list of the funds available on Fidelity’s PlanViewer at www.fidelitypensions.co.uk or by calling the Fidelity Pensions Service Centre on 0800 368 68 68.
You can also read more about self-select funds and things you may wish to consider in your UPP key features document.
Bear in mind that if you choose to self-select, then you are solely responsible for your fund choices and should consider making adjustments as you get closer to retirement or if your circumstances change.
Having your investments managed for you with a default strategy
The default strategy might be ideal if you would prefer an investment strategy that is set for you, rather than having to make investment decisions yourself.
The default strategy offered by the UPP administrator, Fidelity, is called FutureWise. It targets sustainable capital growth over time, while helping reduce the impact of market downturns.
FutureWise does this by automatically investing your pension account in a Target Date Fund that aligns most closely with your ‘retirement age’ currently shown in your pension plan.
As you get closer to your retirement age, each Target Date Fund automatically moves assets to lower risk investments.
While you do not have to actively manage your investments with a default strategy, you should still keep track of your investments regularly to ensure this strategy remains in line with your needs. You can find out how to do that in the checking and changing your investment choices information, which can be selected above.
You should also let Fidelity know if there are any changes to your planned retirement date, as this will affect how and when your investments are moved.
You can read more about default strategies and FutureWise in your UPP key features document.
A full list of available funds
You can find a list of the current funds available in your Plan in the UPP fund range information guide linked below. Please note that not all funds may be available for self-selection. For more information on your investment options, please log in to PlanViewer.
Monitoring the value of your pension account
It is important that you check your investments regularly and make sure that they are still working for you, particularly as you get closer to retirement, to make sure they will meet your expectations for the future.
You can look at the current value of your pension account anytime in your secure PlanViewer account at www.fidelitypensions.co.uk.
You will also receive an Annual Statement showing the account’s current value and a projection of the benefits that you might receive at retirement.
Alternatively, you can call Fidelity’s Pension Service Centre on 0800 368 68 68 and ask for an up-to-date value of your pension account or a statement.
Checking and changing your investment choices
You can check and change your investment choices whenever you want to, by:
- using Fidelity’s secure online pension service – PlanViewer – at www.fidelitypensions.co.uk
- calling the Fidelity Pensions Service Centre on 0800 368 68 68
There is currently no charge for changing the way your pension account is invested.
Please remember that if you move money between funds or switch from one investment option to another, you may be out of the market for a short time. If the market moves in that time, it could affect the value of your investments.
Fidelity reserves the right to limit the number or frequency of times you switch. It may do this, for example, if short-term or excessive trading could harm fund performance by disrupting portfolio management strategies and increasing the expenses that the fund has to pay.
Help making the right decisions for you
If you have no experience of investing, there is a great deal of support available to help you make your choice.
Fidelity’s Pensions Service Centre representatives are always willing to answer your questions. Their goal is to provide you with information to help you make a decision you will feel comfortable with. You can find their information on the contact details page.
Although they can help you with information, Fidelity cannot give you advice on what investments would be right for your particular situation. In that instance, you may benefit from speaking to an Independent Financial Adviser (IFA).
An IFA can offer you professional advice to help you make financial decisions.
You can also find support and guidance through the government-backed MoneyHelper service.
Visit the help and advice page for more details.
Neither Fidelity nor Uniper can provide you with any financial or investment advice. They can give you factual information but not advice.
