Cash Lifestyle Strategy   (Default Option) 

If you do not select any funds for investment of your own contributions will automatically be invested in the Cash Lifestyle Fund. 

The Default option is determined by the ITB Trustees in conjunction with their independent advisers. 

Throughout the growth phase the strategy targets a mix of 70% in the global equity fund, 30% in the multi-asset fund. 

Starting 15 years before your planned retirement date, the equity fund allocation will be gradually reduced, the multi-asset fund allocation will be increased, and the diversified growth fund allocation will be built-up.  In the final 5 years before retirement, the entire allocation will be gradually switched into cash, so that at the point of retirement, your pot will be 100% invested in cash. 

Annual charges at 15 or more years before retirement: 0.44%. Annual charges increase to 0.61% at 5 years before retirement and then reduce to 0.40% just before retirement.

Drawdown Lifestyle Strategy 

Throughout the growth phase the strategy targets a mix of 70% in the global equity fund, 30% in the multi-asset fund. 

Starting 15 years before your planned retirement date, the equity fund will be gradually reduced, the multi-asset fund allocation will be increased, and the diversified growth fund allocation will be built-up to a 25% allocation at the target retirement age. In the final 5 years before retirement an allocation to cash will also be built-up. At the point of reaching the target retirement age, your pot will be invested 50% in the multi-asset fund, 25% in the diversified growth fund and 25% in cash. 

Annual charges at 15 or more years from retirement: 0.44%.  Annual charges increase to 0.62% at 5 years before retirement and then reduce to 0.61% before retirement.

Annuity Lifestyle Strategy 

Throughout the growth phase the strategy targets a mix of 70% in the global equity fund, 30% in a multi-asset fund. 

Starting 15 years before your planned retirement date, the equity and multi-asset fund allocations will be gradually reduced, allocations will be built-up to index-linked gilts and corporate bonds and a small diversified growth fund allocation will be built-up.  In the final 5 years before retirement, allocations will also be made to fixed interest gilts and cash.  At the point of retirement, your pot will be invested 18.75% in corporate bonds, 18.75% in fixed interest gilts, 37.5% in index-linked gilts and 25% in cash. 

Annual charges at 15 or more years from retirement: 0.44%.  Annual charges increase to 0.49% at 5 and 6 years before retirement and then reduce to 0.39% just before retirement.