Pension Update

We're making changes to the investment arrangements in the Defined Contribution (DC) Section of the Thomson-Leng Provident Fund.

Overview

In September 2026, the following changes will take place:

DC assets will move to a new investment platform provided by Mobius Life
Changes will be made to the Target Retirement Path investment strategies, including the default investment option, with the aim of improving long-term retirement outcomes for members

To support the implementation of these changes, there will be a temporary blackout period on OneView, the online pensions platform, between 2nd September and 6th October 2026, during this time some member transactions and services will be unavailable.

Members planning to retire or transfer benefits before or during the blackout period should contact Aptia by 4th August 2026 to allow sufficient time for processing.

Please read the information below to understand what will be changing. More information on the investment options and the new Target Retirement paths are available here in the Investment Guide.

What these changes mean for you

All DC section members

- Your DC investments will move onto a new investment platform managed by Mobius Life.
- You will benefit from lower overall investment charges after these changes have been made.
- No changes are being made to the range of Self Select investment funds available.
- You will not be able to make any changes to your retirement account during the OneView blackout period (2nd September 2026 to 5th October 2026 inclusive).
- Your DC investments will be invested in a new Target Date Fund based on the type of benefit you want to take at retirement and your chosen Target Retirement Date. The Target Date Fund will gradually and automatically switch your retirement account into investment funds considered lower risk and designed to help you target the type of benefit you want to take at retirement. For example, if you wish to access your pension via pension drawdown at retirement and your Target Retirement Date is in 2045, you will be invested in the Mercer Target Growth - Retiring 2044-2046 fund and you will be automatically switched into the Mercer Target Drawdown - Retiring 2044-2046 fund around nine years from Target Retirement Date.
- If you are over 16 years from your Target Retirement Date, the changes will result in you having a higher allocation to growth assets, with the aim of achieving higher investment returns by taking more investment risk while you are further away from retirement.
- From around 16 years from your Target Retirement Date, your DC investments will gradually and automatically diversify into investments still focused on growth but considered lower risk. The amount of risk within your DC investments will continue to reduce until you reach your Target Retirement Date.
- There is no change to the investment strategy in the final 8 years up to your Target Retirement Date. However, if you are already within this period, the underlying mix of your investments may change slightly as your current investments will switch from a single year Target Retirement Fund to a new Target Date Fund based on a three-year period. For example, if you are currently invested in the Target Drawdown 2029 Fund, you will be invested in the Target Drawdown – Retiring 2029-2031 fund from September 2026.
  
  For more information on your DC section investment options and the new Target Retirement Paths, please refer to the new DC section Investment Guide available here.

What do I need to do next?

Aptia will need to switch off OneView temporarily to make these changes, so you will not be able to make investment switches or changes to your Target Retirement Age during this blackout (2nd September 2026 to 5th October 2026 inclusive).
As highlighted previously, if you were planning to retire or transfer out before October 2026, you should have contacted Aptia before 4th August 2026 to request appropriate forms. You should ensure you submit all completed paperwork by 26th August 2026 so your request can be processed before the blackout commences.
Now may be an ideal time to reflect on whether the investment strategy you currently invest in is still right for you. If you want to make any changes to your investments or your Target Retirement Date, you can do this on OneView before 1st September 2026.
If you are happy with your current investment strategy choices, then no action is required. All changes will happen automatically.

Questions? We're here to help!

If you have any queries about the information above, you can contact Aptia, the Fund Administrator, online here or by telephone: 0345 600 1168

Or the DC Thomson Pension Department, by email at pensions@dcthomson.co.uk or by telephone: 01382 575 738.