Enhance: Construction Pension Scene, Northern Ireland



How your Money is Invested

A pension is a long term investment that helps you save for your retirement. Contributions into your pension are collected together and invested to build up your pension fund.

What investment choices are available?

You have a choice of 6 investment funds.  When you join the Scheme, you are asked to choose which investment fund(s) you would like your contributions to be invested in.  You can choose to invest your contributions in any one fund or a combination of the 6 funds available.

The investment funds are:


Enhance Growth Fund
To provide investment growth through diversified exposure to the UK and overseas equity markets


View Fund Fact Sheet


Enhance Volatility Reduction Fund
A gilts and bonds fund which aims to provide long-term investment growth with lower short-term volatility


View Fund Fact Sheet


Enhance Capital Protection Fund
To provide stability and protect in capital value terms that part of the fund that is likely to be taken as tax-free cash


View Fund Fact Sheet


Enhance Annuity Protection Fund
To build up exposure to assets that are more closely matched to the investment related influences on annuity prices


View Fund Fact Sheet


Enhance Diversified Fund
To provide a long term investment return similar to equities, with lower short term volatility, through active management


View Fund Fact Sheet


Enhance Index-Linked Gilts Fund
A passively managed index-linked gilts fund


View Fund Fact Sheet

If you do not choose to invest in any of the 6 funds, the contributions made into your Member’s Account will be invested in the default Lifestyle Strategy.

What is the default Lifestyle Strategy?

The default Lifestyle Strategy means that your contributions are invested in a combination of the Enhance Growth Fund, the Enhance Capital Protection Fund and the Enhance Volatility Reduction Fund from joining the Scheme until your retirement.

How does the default Lifestyle Strategy work?

The default Lifestyle Strategy is designed to meet the changing investment needs of a typical pension investor as they progress through life towards their Normal Retirement Age.

A Member’s contributions are initially split 50/50 between the Enhance Growth Fund and the Enhance Capital Protection Fund. From age 50, as a Member approaches Normal Retirement Age, the Member’s assets are gradually switched, on a quarterly basis, to a combination of the Enhance Growth Fund, the Enhance Volatility Reduction Fund and the Enhance Capital Protection Fund.

At age 65, members’ funds will be invested 100% in the Enhance Capital Protection Fund.

The default Lifestyle Strategy is in place to switch investments from an initial Foundation phase (up to age 30), through to the Growth phase (between the ages of 32-49) and finally to the Protection phase (from the age of 50), as a member approaches retirement.

Please click here for further information.

Can I make my own investment choices?

If you do not wish to be part of the Lifestyle Strategy you can make your own investment choices from the 6 investment funds.

This is known as the Freestyle option.  It is important to note that selection of the Freestyle Option means you will not be part of the Lifestyle Strategy described above. Therefore, funds will not be subject to the automatic age related switching process. You should ensure that the fund(s) you select reflect your acceptance of investment risk over time.

You can confirm your choice by completing the Investment Option Form and returning it to the Scheme.

How often can I switch funds?

Members who have chosen a Freestyle Option are entitled to switch investments once per annum without an administration charge. Subsequent requests within a 12 month period may incur a charge, a decision which lies with the Trustee. You may choose to switch into the Lifestyle Strategy at any time.

To arrange a switch, please download and complete the Investment Switch and Redirection form and return to us at the address on the form.

Can the value of my pension go down as well as up?

Over the years the value of investments can go up and down. Even if the value goes down in the short term, it would be expected to recover in the long term.

Members aged 50 and over

The Trustee of the Scheme is required to inform those Members who are between five and fifteen years before their normal retirement date of 65 of the Scheme's Lifestyle Strategy, how it works and the advantages and disadvantages of the strategy.

Please click here for further information.