Covid-19 and your investments
The Covid-19 pandemic has caused sharp rises and falls in fund values, and you may be worried about your pension. Any decisions about fund choices are important as they could have a big effect on your future benefits, and we recommend you speak to an independent financial adviser (IFA) before making any decisions. There’s a list of IFAs in your area at

My fund choices

There is a range of investment fund choices available to you as a member of AVC Extra, falling into two categories – lifestyle strategies and self-select funds. The options you select will very much depend upon how hands-on you want to be in managing your investments.
You should check your fund choices regularly to make sure that they're still right for you.

If you are investing in a Lifestyle Strategy you should think about choosing your Target Retirement Age (TRA). This is the age you would like to retire, and it could be earlier or later than your Normal Retirement Age. As you get nearer to your TRA, your funds will automatically start moving from 'higher growth', riskier funds to more 'stable', lower risk funds.

Please remember you should review your TRA regularly in case your retirement plans change.


Lifestyle strategies 

If you don’t feel comfortable managing your own investments, you can opt for the ‘hands-off’ approach with a Lifestyle Strategy, which will make the decisions on your behalf. Your holdings are automatically moved to the funds which are believed to be most appropriate for the length of time you have left until retirement.

As you get nearer to your target retirement age, your investments move from funds which have higher growth potential but tend to be more risky, to more ‘stable’ funds which have a lower risk of losing value.

You can find the product particulars for each Lifestyle Strategy below, as well as things to consider about Lifestyle Strategies either before you choose to invest, or before you change your investments.

Self-select funds

If you want more of an active role in how your investments are managed, you can choose from the range of self-select funds drawn up by the Trustee. You can choose to invest in one fund or a combination of funds, depending on your personal preference.

You can find the fund factsheets and product particulars for each self-select fund below. 

The available self-select funds are:

Global Equity Fund

This fund invests in global equities, including emerging market equities. The aim is to achieve a return in excess of inflation over the longer term.

Equity prices are expected to experience short-term volatility in response to economic and stock market events. 

Long Term Growth Fund

This fund invests in a range of asset classes across different financial markets and economies, aiming for a return in excess of inflation over the longer term.

The mix of assets will change over time according to the manager's views. This fund is expected to have lower volatility than a portfolio of equities. 

Aggregate Bond Fund

This fund invests in a mix of global non-government bonds and fixed-interest UK government bonds.

Index-linked and Global Bond Fund

This fund invests in a mix of global non-government bonds and index-linked UK government bonds. 

Deposit Fund

This fund is suitable for those who have a preference for a modest investment return, and is a lower financial risk investment and is designed to provide the potential for some capital security.

The fund invests in a wide range of short-term instruments, not simply deposit accounts.

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On-going charges for all the above funds are paid for by levying a charge against each individual member's AVC Extra account. Information can be found on the factsheets above.

Where to go for advice

​Please speak to an independent financial adviser if you need support. You can find a list at