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AVC Investment Options

You can choose where you invest your AVCs from the list below.

Higher risk funds offer potentially higher returns, but there is also a greater risk that the value of your AVCs will fall.

If you are considering early retirement you may wish to review your investment choices with a view to the possibility of switching your investments to a lower risk fund in the months before retirement to reduce the risk of capital loss.

Standard Life - Sterling One Fund

  • A fund for investors looking for a temporary home for their money when the short term outlook for equities, fixed interest securities and property is uncertain
  • The fund invests in bank deposits and other money markets including Certificates of Deposit, Floating Rate Notes and Asset Backed Securities 
  • Fund price is not guaranteed and circumstances could arise in which it may fall

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Standard Life - Protection One Fund

  • This fund invests mainly in long-term government bonds
  • Long-term returns would be expected to be higher than from cash, but less than from investments in equities (see below)
  • Returns are expected to rise and fall broadly in line with interest rates and annuity rates

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Standard Life - Managed Cash Fund

  • A relatively low risk fund, investing in deposits and short-term money market instruments
  • Prioritises capital preservation and liquidity over returns so expected returns will probably be low, but positive
  • Fund price could fall if there was a default by a bank where money is held, adverse movement in the money market instruments held or if investment income dropped so low as to be less than the charges applied to the fund

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Standard Life - Managed One Fund

  • The Managed One Fund invests in a mix of UK and overseas equities, fixed interest and index-linked bonds, property and cash

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Standard Life - Ethical One Fund

  • This fund invests mainly in UK equities
  • It operates an ethical policy that favours companies that make a positive contribution to society and prohibits it from investing in certain other companies, such as those that damage the environment or use animals to test cosmetics

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Standard Life - International Fund

  • The International Fund invests in a wide range of UK and overseas equities

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Standard Life - FTSE Tracker One Fund

  • The Equity Tracker fund invests in the UK equities and aims to produce a similar return to that of the UK stock market, as measured by the FTSE All-Share Index

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Standard Life - Fixed Interest Gilt Fund

  • The Fixed Interest Gilt Fund invests in UK government fixed interest securities (gilts) that have a maturity period of 15 years or longer. It is 'passively' managed and aims to match a return consistent with the FTSE UK gilts over 15 years Index

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Standard Life - Index Linked Gilt Fund

  • The Index Linked Gilt Fund  invests in UK government index-linked securities (index-linked gilts) that have a maturity period of 5 years or longer. It is 'passively' managed and aims to match a return consistent with the FTSE UK gilts over 5 years Index

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Standard Life - Overseas Equity Fund

  • The Overseas Equity Fund invests in global equities, excluding the UK. It invests 'passively' so that the overseas share holdings track the constituents of the FTSE All-World Developed ex-UK Index

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Standard Life Shariah Fund: HSBC Amanah Pension Fund

  • The fund's objective is to create long-term appreciation of capital through investment in a well diversified portfolio of shares listed worldwide in a manner that is consistent with the principles of the Shariah

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Balanced Lifestyle Fund

  • Under this approach, contributions are invested in equities in the early years to maximise investment returns
  • As you approach retirement, your AVCs are gradually switched into bonds and cash to protect their value against stock market fluctuations
  • All the changes are automatic - you do not need to fill in any forms

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Changing your investments

If you wish to change your investments please contact the Fund Office. You can change your investments at any time.

The links below will take you to the TfL Pension Fund's AVC providers' websites.

Clerical Medical
Equitable Life
Standard Life

Please note that Clerical Medical and Equitable Life are closed to new entrants.

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