Investment funds

If you feel comfortable looking after your investments and want to be ‘hands-on’, you can make your own choices from the full range of investment funds below, as well as the lifestyle strategies. You decide which you want to invest in and how much of your pot you wish to contribute to each.

If you were invested in one of the 2 investment funds that closed, your money was moved into one of the new funds:

If you were invested in the Aggregate Bond Fund, you were moved into the new UK Government Fixed-Interest Bond Fund
If you were invested in the Index-Linked and Global Bond Fund, you were moved into the new UK Government Index-Linked Bond Fund

You can change your fund choices at any time by logging into your myFund account. Go to the 'My pension' and 'Funds' page to change either the funds you're currently invested in, the funds you want to invest in in future, or both.

How the funds work

You can choose from the following investment funds. You can invest in as many, or as few, as you want. You can also invest in one, or more, of the Lifestyle strategies at the same time.

Each fund has a different objective and each has a risk rating. All funds can experience rises and falls in value over the short to medium term. Generally, the higher the risk rating, the larger the rises and falls are likely to be.

You can learn more about each of the investment funds below and in the factsheets.

Long Term Growth Fund

Description: This fund invests in a wide range of investment types from around the world.

Objective: Aims to grow above inflation over the longer term, but with lower risk than investing purely in shares (equities).

Typical investor: Members who are a long way from retirement, and willing to take a bit more risk for potentially higher rewards.

View the factsheet for the Long Term Growth Fund below.

Long Term Growth Fund Factsheet (pdf)

154 KB

Global Equity Fund

Description: This fund invests in shares (equities) in companies from around the world

Objective: Aims to achieve high growth over the long term. Due to the high risk rating, it should be viewed as a longer-term investment.

Typical investor: Members who are a long way from retirement, and willing to take a bit more risk for potentially higher rewards.

View the factsheet for the Global Equity Fund below.

Global Equity Fund Factsheet (pdf)

172 KB

Socially Responsible Equity Fund

Description: This fund invests in shares (equities) in companies from around the world with strong environmental, social and governance ratings, and minimal controversies. It avoids industries like tobacco, weapons, alcohol and adult entertainment.

Objective: Aims to achieve high growth over the long term. Due to the high risk rating, it should be viewed as a longer-term investment.

Typical investor: Members a long way from retirement willing to take a bit more risk for potentially higher rewards, and who consider environmental, social and governance factors particularly important when investing.

View the factsheet for the Socially Responsible Equity Fund below.

Socially Responsible Equity Fund (pdf)

143 KB

Corporate Bond Fund

Description: This fund predominantly invests in bonds issued by global companies rather than the UK government.

Objective: The fund aims to generate returns by spreading investments across a range of global companies.

Typical investor: Members getting closer to retirement who want to stabilise the value of their pension pot while maintaining a positive return.

View the factsheet for the Corporate Bond Fund below.

Corporate Bond Fund (pdf)

150 KB

UK Government Fixed-Interest Bond Fund

Description: This fund invests in UK government bonds which provide a fixed rate of interest.

Objective: To build pension savings that will provide a fixed rate of income.

Typical investor: Members nearing retirement who want to buy a guaranteed pension income.

View the factsheet for the UK Government Fixed-Interest Bond Fund below.

UK Government Fixed-Interest Bond Fund (pdf)

141 KB

UK Government Index-Linked Bond Fund

Description: This fund invests in UK government bonds which provide a rate of interest linked to inflation.

Objective: To build pension savings that will provide an inflation-linked rate of income.

Typical investor: Members nearing retirement who want to buy a guaranteed pension income which increases with inflation.

View the factsheet for the UK Government Index-Linked Bond Fund below.

UK Government Index-Linked Bond Fund (pdf)

143 KB

Deposit Fund

Description: This fund invests in money-market funds and UK government treasury bills.

Objective: Aims to protect - rather than grow - the value of your savings, over the short term.

Typical investor: Members nearing retirement, who want to protect the current value of their investments.

View the factsheet for the Deposit Fund below.

Deposit Fund Factsheet (pdf)

148 KB

Also in this section

Each of Railpen Limited (registered in England and Wales No. 2315380) and Railway Pension Investments Limited (RPIL) (Registered in England and Wales No. 1491097) is a wholly owned subsidiary of Railways Pension Trustee Company Limited (Registered in England and Wales No. 2934539). Registered office for each company: 100 Liverpool Street, London EC2M 2AT. RPIL is authorised and regulated by the Financial Conduct Authority for some of its activities. The administration of occupational pension schemes is not a regulated activity. Full details about the extent of RPIL's authorisation and regulation by the Financial Conduct Authority are available from us on request.