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Investment Pathways are highly governed funds that are designed and approved for drawdown. There are four different Pathways you can choose from, depending on when you’re looking to take an income from your pension. The four Pathways are determined by whether you plan on:
1. Not touching your pension in the next five years
2. Setting up a guaranteed income within the next five years
3. Taking a long-term income from your pension within the next five years
4. Taking all your money out within the next five years
Each Investment Pathways fund is designed to match your needs, but they are single fund solutions and not a Wealthify Plan.
Yes, although Wealthify's Pension is not an Investment Pathway, it does support drawdown.
If the Investment Pathways don't meet your retirement objectives and you want to maintain your Wealthify Pension then you don't have to do anything or you could change your risk level.
As we offer a non-advised service, the government make it mandatory that we help you check that your investments are right for you heading into retirement. Part of this includes offering Investment Pathways, an initiative from the Financial Conduct Authority (FCA).
If you're unsure of your retirement objectives, or if you need help financially planning for retirement, then you may wish to speak to an independent financial advisor.
By choosing Pension Pathways, you’ll need to fill out a questionnaire to help you understand your drawdown plans. We’ll then share a set of mandatory funds, operated by Hymans Roberston, which are designed and approved specifically for withdrawing from your pension.
It’s worth noting that you do not need to decide based on the outcome of this questionnaire and the options listed above will still be available to you.