Do it for me - the low-involvement (default) option
What is it?
It's an investment option that’s designed to make it simple for you to invest for retirement. Our experts will:
- manage your money for you right up until you start to take it
- decide where you should be invested and when
- make sure the funds you're in don't take any more or less risk than they should
If you want a low level of involvement in the selection of your investment options, or find it difficult to choose where to invest your money for your pension, then the low-involvement investment option could be for you.
Your money will be invested in this option automatically when you first join the BTRSS.
The Passive Plus III Universal Strategic Lifestyle Profile (SLP) has been set as the low-involvement investment option for the BTRSS by Standard Life, following consultation with BT, and is believed to be an appropriate option for most members’ pension plan investments. Unless you decide to move your money into another investment, this is where it will continue to be invested.
How does it work?
There are two main stages in the Passive Plus III Universal SLP:
1. Growth stage - when you're more than 10 years from retirement
Your money will be invested in the Standard Life Passive Plus III Pension Fund, which aims to increase the value of your pension savings over time.
2. Approaching retirement stage - when you're less than 10 years from retirement
Your money will gradually, and automatically, be moved into lower risk funds. This is designed to let you keep your options open about how you take your money in the future.
All of the funds in the Passive Plus III Universal SLP include a mix of investments. They mainly invest in index-tracking (passive) funds, but can also invest a proportion in actively managed funds. Use the links below to find out more about the funds used in the Passive Plus III Universal SLP:
Help me do it - other Standard Life lifestyle profiles
About these profiles
The BTRSS low-involvement investment option is one of a range of lifestyle profiles. We have other lifestyle profiles that let you tailor your investment choice by how you're planning to take your money in the future (if you know). All the lifestyle profiles, except the Passive Core Universal SLP, also let you choose how much risk you're comfortable taking.
Universal SLPs - designed for people who want to keep their options open about how they take their money or aren't yet sure what they want to do
Annuity SLPs- designed for people who plan to buy a guaranteed income for life (annuity)
Lump Sum SLPs - designed for people who plan to take all their money as one or more cash lump sums over a relatively short period of time
Active Retirement SLPs - designed for people who plan to take a flexible income (drawdown)
One of the features of these lifestyle profiles is flexibility. We can make changes as necessary to make sure they continue to meet members’ needs.
You can find out more about these lifestyle profiles in the How to choose the right investment options for your pension guide (PDF, 319KB) or in our SLP guides:
Whichever lifestyle profile you choose, your pension savings will gradually be moved into carefully selected funds designed to reflect how you plan to take your money. This will happen automatically - you don't need to do anything.
Things to be aware of
- Please remember that investment growth is not guaranteed. The funds can go down as well as up in value and may be worth less than the amount invested.
- What you pay in charges will depend on how long you have until you retire. For example, when you're 10 or more years from retirement, the effective total annual fund charges for the BTRSS low-involvement option are 0.29%. In the final year before retirement, they're 0.28%
- The effective total annual fund charge for each fund within the BTRSS low-involvement investment option is the fund management charge, plus any additional expenses which apply, minus the scheme rebate
- Charges and rebates are not guaranteed and may be changed in the future
- You should make sure any lifestyle profile you choose matches how you plan to take your money. As lifestyle profiles make changes to your investments based on your planned retirement date, they may only be suitable if you're planning to start taking your money on this date
- Before you choose an investment option, make sure you understand its aims and risks. As with many investments, the value can go down as well as up, and may be worth less than was paid in
- If you choose to invest in the BTRSS low-involvement investment option or any other lifestyle profile, you can only combine this with the Standard Life BT Share Pension Fund. You cannot combine this with any other lifestyle profile or fund
- If you’re not sure if the BTRSS low-involvement investment option, or any of the other lifestyle profiles, are appropriate for you, you should seek financial advice. There is likely to be a charge for this.
So what now?
- If you’re happy to keep your money in the low-involvement investment option, you don’t need to do anything
- If you want to move to one of the other Standard Life lifestyle profiles, you can change your investments online
- If you would prefer to choose from a wider range of investments, you should check out the other options available to you.
- Details can also be found in the How to choose the right investment options for your pension guide (PDF, 319KB)
To help you make an informed decision we've provided you with important information that you should read. You should print or save copies of these documents for future reference.
This is where you will find specific details about BT’s company pension.Plan summary document for BT employees (PDF, 81KB)
This document explains the features of the pension product your employer has chosen.Key features document (PDF, 288KB)
This document provides you with more information on how you can take money from your pension flexibly. For more information on the other options available please see the key features document above.How Drawdown Works (PDF, 211KB)
Read this guide for more information on choosing your investment options if you decide to take money from your pension flexibly.Choosing investment options for a flexible income (PDF, 119KB)
This document gives you an illustration of what your pension could be worth for BT employees. It may not take into account rebates that may apply to your policy. You can find more information about the charges and rebates on the charges page.Key features illustration for BT employees (PDF, 114KB)
Read this guide for more information on your investment options, including details about charges and fund codes.How to choose the right investment options for your pension (PDF, 837KB)
Use this form to instruct Standard Life on payment of death benefits from the BTRSS.Instruction for payment of death benefits (PDF, 77KB)
Read this guide, provided by BT, for more information about how SMART Pensions work. Standard Life is not responsible for the content of this guide.SMART Pensions (PDF, 332KB)