The Penfold Lifetime is designed to work similarly to the Multi-asset and ESG Lifetime Plans, with a few key differences.
Like the ESG and Multi-asset Lifetime Plans, the Penfold Lifetime has three risk levels that adjust as you get closer to retirement. However, the Penfold Lifetime carries slightly more risk at each stage compared to the existing plans, aiming for higher long-term growth.
The way investments shift over time (the glidepath) is the same across all three plans, meaning you’ll move between risk levels at the same ages.
In short, the Penfold Lifetime follows the same structure as the ESG and Multi-asset Lifetime Plans, but with slightly higher risk at each stage to help grow your pension over time.