Stakeholder Pension

The Norwich Union Stakeholder Pension offers you a wide variety of pension funds in which to invest your pension payments. You'll need to choose a fund or funds that reflects your attitude to risk and return. And, you can switch between funds to accommodate any changes in your personal circumstances.

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You can choose your funds - or let us help you

With a Stakeholder Pension, you can either select the fund(s) that you want to invest in yourself or choose to invest your money using our Balanced Managed Lifestyle Strategy. Taking the latter option will mean that up until five years before your retirement, all payments will be invested in the Balanced Managed Fund - which in turn invests in a mix of assets.

As you approach retirement, we'll gradually move your investment to lower risk/return funds. At your chosen retirement date, 75% of your pension fund will be invested in the Retirement Protection Fund and 25% will be invested in the Deposit Fund.

With some funds, we may need to delay payment to you in certain circumstances. This could, for example, be as a result of adverse market conditions or where it would lead to the unfair treatment of other policyholders. The delay may be up to one month for most funds, or up to six months if the fund you're invested in cannot be easily converted to cash.

This includes the Property Fund or a fund that's fully or partly invested in the form of land or buildings. After such a delay in the cancellation of units, the unit price received will be the price applicable at the end of the deferred period.

Bear in mind that the value of a pension fund can go down as well as up and is not guaranteed. The level of risk/return depends on the fund(s) you're invested in - the higher the potential for growth, the greater the risk.

The risks associated with different investments

Risk is one of the most important factors when it comes to investing your money for the future. The key is to find the right balance between the amount of risk you're willing to take and the potential return you're likely to get over your investment period.

If you have a long time before you retire, you might be prepared to take a bigger risk, but as you get closer to retirement you might want to limit the amount of risk you take. With the help of your financial adviser, careful investment planning can help you to manage your risk/return effectively.

So what is meant by risk? Most funds carry the risk that their value could drop below the original value you invest at. This risk can be measured by the ‘volatility’ of the fund, or the amount of ‘ups and downs’ in its value. Typically, the more the value of an investment fund fluctuates, the higher the potential may be for gains or losses - often referred to as its risk/return. Understanding your attitude to risk/return is important, so we've listed the key risk/return ratings below.

If you're not sure you know the level of risk/return you're comfortable with, our fund selector will help you work out your own risk/return profile and identify which funds might be suitable for you.

Your choice of pension investment funds

You'll see listed below all the funds available for you to invest in with a Norwich Union Stakeholder Pension. To help you make your choice, click on the fund name to read the fund description and associated risk/return profile.

* When funds invest in overseas financial markets, the values will go up and down in line with movements in currency exchange rates, as well as the changes in the values of the funds' holdings.

Low risk/return funds

Norwich Union Deposit Fund

This fund aims to provide a return in line with bank and building society interest rates. The fund has very little risk attached to it and protects capital values from falling. It invests in cash investments with first-class banks and major UK companies.

Medium to low risk/return funds

Norwich Union BGI Corporate Bond Index Tracker Fund

This fund aims to achieve a return consistent with the iBoxx £ Non-Gilts Index by investing in bonds issued by companies and governments. The index covers the broad spectrum of investment grade corporate bonds in issue.

Norwich Union BGI Over 15 Years Gilt Index Tracker Fund

This fund invests in UK Government fixed income securities (gilts) that have a maturity period of 15 years or longer. It aims to achieve a return consistent with the FTSE UK Gilts Over 15 Years Index, which is widely regarded as the benchmark for UK pension fund investments in the longer dated end of the UK gilt market.

Norwich Union Retirement Protection Fund

This fund aims to track the performance of the Financial Times Actuaries Government over 15 years Gilt Index (before the deduction of management fees and allowances for taxes and other expenses) by investing in British Government fixed interest stocks.

Norwich Union Corporate Bond Fund

This fund aims to provide a return from investment income earned from a mix of company and government bonds that is greater than that available if investments were made solely in gilt-edged securities.

Norwich Union Gilt Fund

This fund aims to provide a return from investment income and some capital growth by investing mainly in gilts - UK Government loan stock.

Norwich Union Index-linked Gilt Fund

This fund aims to provide long-term capital growth by investing in UK Government index-linked securities.

Norwich Union Defensive Managed Fund

This fund aims to provide a return that is greater than what could be achieved from cash deposits alone from a combination of capital growth and investment income by investing in a mix of assets. It does this by investing in a number of Norwich Union's medium to low risk/return funds.

Norwich Union Stakeholder With-Profit Fund

This fund invests in a mix of assets, including company shares, property, government bonds, company bonds and deposits. It aims to provide a smoothed investment return. As a result of smoothing and guarantees, the investment risk/return on this fund is lower than that of many others that also invest in company shares.

The Stakeholder With-Profit Fund's unit price increases daily in line with the latest regular bonus rate declared by Norwich Union. We may add a final bonus when units are switched out of the fund, on full or partial encashment, on regular withdrawals, on death or when units are cancelled from the fund. Norwich Union may vary the final bonus or withdraw it at any time without notice.

Future bonus rates may vary as they depend on future returns. They will be decided by Norwich Union and cannot be guaranteed or predicted.

To protect those who remain invested in the With-Profit fund, we may apply a market value reduction on full or partial encashment, on regular withdrawals or on switching out of the Stakeholder With-Profit Fund. This would reduce the quoted value of the amount taken out and ensure it fairly represents what your money has earned.

A market value reduction would normally apply after sudden market falls or following a period where returns are regularly below those we expect.

An investment in the Stakeholder With-Profit Fund should be viewed as a long-term commitment.

Medium risk/return funds

Norwich Union BGI Consensus Fund

This fund aims to produce consistent investment performance in line with the average UK pension fund and to avoid any violent swings between the upper and lower ends of the pension fund performance league tables. The portfolio is invested in line with the asset allocation of the average UK pension fund, excluding property.

Norwich Union Property Fund

This fund aims to provide a return from a combination of rental income and capital growth by investing mainly in commercial properties that includes shops, retail parks, warehouses, offices and industrial buildings.

Please be aware that the value of a property is a matter of a valuer's opinion rather than fact. Buying and selling properties can take quite a while, which may mean that there is a delay of up to six months if you want to switch your money out of this fund or transfer your fund to another provider.

Norwich Union Sustainable Future Corporate Bond Fund*

This fund aims to provide a high level of investment income by investing mainly in sterling fixed interest securities issued by corporations and governments that conform to our social and environmental criteria. Limited investment in non-sterling fixed interest securities may be made from time to time. Forward currency transactions may be used to remove any exchange rate risk.

Norwich Union Global Bond Fund*

This fund aims to provide a return from a combination of investment income, capital growth and currency gains by investing in fixed interest stocks quoted on major financial markets around the world.

Norwich Union Cautious Managed Fund

This fund aims to provide a return from capital growth and investment income by investing in a mix of Norwich Union's medium risk/return funds to spread and control risk. The fund manager will decide the allocation of investments between the different funds.

Norwich Union Balanced Managed Fund

This fund aims to provide a return from a combination of capital growth and investment income by investing in a mix of assets such as company shares, property, bonds and cash. This mix means that the fund can enjoy the potentially higher returns earned from investments in company shares whilst spreading the risk by holding assets that are less volatile.

Norwich Union Sustainable Future Managed Fund*

This fund aims to provide a return, through a combination of capital growth and investment income by investing in a mix of assets including international company shares, bonds and cash that conform to our social and environmental criteria.

Medium to high risk/return funds

Norwich Union BGI European Equity Index Tracker Fund

This fund invests in the shares of companies in Europe and aims to achieve a return that is consistent with the return of the FTSE All-World Developed Europe ex-UK Index. This index is widely regarded as the benchmark for UK pension fund investment in European company shares.

Norwich Union BGI UK Equity Index Tracker Fund

This fund invests in the shares of UK companies and aims to achieve a return that is consistent with the return of the FTSE All-Share Index. This index is widely regarded as the benchmark for UK pension fund investment in shares of companies in the UK.

Norwich Union BGI 50:50 Global Equity Index Tracker Fund

This fund invests primarily in equities, both in the UK and overseas markets. The fund has approximately 50% invested in the shares of UK companies. The remaining 50% is invested in overseas companies, split equally between the US, Europe excluding the UK, and the Far East. The fund aims to provide returns consistent with the markets in which it invests and provides broad exposure to countries around the world.

Norwich Union UK Index Tracking Fund^†

This fund aims to track the performance of the FTSE All-Share Index (before the deduction of management fees and allowances for taxes and other expenses) by investing in UK company shares and futures.

Norwich Union UK Equity Fund

This fund aims to provide a return from a mix of investment income and capital growth by investing in quality, large 'blue chip' and medium-sized UK companies, many of which will be household names.

Norwich Union UK Equity Ethical Fund

This fund aims to provide a return from capital growth and investment income by investing mainly in UK company shares that have been selected for their potential long-term returns and that conform to a set of ethical criteria.

Norwich Union Sustainable Future UK Growth Fund

This fund aims to provide a return from long-term capital growth by investing mainly in UK company shares from time to time in UK bonds all of which must conform to our social and environmental criteria.

Norwich Union European Equity Fund*

This fund aims to provide a return mainly from capital growth by investing in quality companies throughout continental Europe and Scandinavia, many of which will be household names.

Norwich Union Sustainable Future European Growth Fund*

This fund aims to provide a return from long-term capital growth by investing mainly in continental European company shares and from time to time in continental European bonds, all of which must conform to our social and environmental criteria.

Norwich Union Global Equity Fund*

This fund aims to provide a return from a combination of investment income and capital growth by investing in a mix of quality company shares spread across the world's financial markets.

Norwich Union International Index Tracking Fund*^†

This fund aims to track the performance of the FTSE World (ex UK) Index (before the deduction of management fees and allowances for taxes and other expenses). It invests in international company shares.

High risk/return funds

Norwich Union BGI US Equity Index Tracker Fund

This fund invests in the shares of US companies and aims to achieve a return that is consistent with the return of the FTSE All-World USA Index. This index is widely regarded as the benchmark for UK pension fund investment in shares of companies in the US.

Norwich Union BGI Japanese Equity Index Tracker Fund

This fund invests in the shares of Japanese companies and aims to achieve a return that is consistent with the return of the FTSE All-World Japan Index. This index is widely regarded as the benchmark for UK pension fund investment in shares of companies in Japan.

Norwich Union BGI Pacific Rim Equity Index Tracker Fund

This fund invests in the shares of companies in the Pacific Rim and aims to achieve a return that is consistent with the return of the FTSE All-World Developed Asia Pacific ex-Japan Index. This index is widely regarded as the benchmark for UK pension fund investment in shares of companies in the Pacific Rim.

Norwich Union US Equity Fund*

This fund aims to provide a return mainly from capital growth by investing in quality North American company shares, primarily in the USA, many of which will be household names.

Norwich Union Pacific Equity Fund*

This fund aims to provide a return mainly from capital growth by investing in company shares in the Far East and Japan, many of which will be household names.

Norwich Union Sustainable Future Global Growth*

This fund aims to provide a return from long-term capital growth by investing mainly in global company shares and from time to time in global bonds, all of which must conform to our social and environmental criteria.

Norwich Union Sustainable Future Absolute Growth Fund*

This fund aims to provide a return from long-term capital growth by investing mainly in international company shares and from time to time bonds, all of which must conform to our social and environmental criteria. There may not always be a spread of investment across all countries.

* When funds invest in overseas financial markets, the values will go up and down in line with movements in currency exchange rates, as well as the changes in the values of the funds' holdings.

† The FTSE All-Share Index is calculated by FTSE International Limited (“FTSE”). FTSE does not sponsor, endorse or promote this product. The FTSE Index Series is calculated by FTSE. All copyright in the index values and constituent list vests in FTSE. Aviva Investors Global Services Limited has obtained full licence from FTSE to use such rights in the creation of this product.

“FTSE™” is a trade mark of London Stock Exchange Plc and The Financial Times Limited is used by Aviva Investors Global Services Limited under licence

Get a quote and apply online

It's easy to get an instant quote and apply online for a Norwich Union Stakeholder Pension Plan

Get a quote

Or call us free on 0800 068 6800**

For more information, a quote or a helping hand with your application, just give us a call. Any advice given will relate only to the products of Norwich Union.

** Lines are open Monday to Friday 8am - 9pm, Saturday 9am - 5pm and Sunday 10am - 4pm. Calls may be recorded and/or monitored.

WC03045 09/2008