Our EMPOWER Personal Lifestyle Strategy (PLS) puts your pension savings into appropriate funds at every stage of your pension savings journey.
Most other lifestyle strategies only offer one standard way of investing your pension savings. Our EMPOWER Personal Lifestyle Strategy offers a unique approach to how your pension savings are managed by our pension experts.
20 years from retirement
When you are reasonably far from retirement, your pension savings are invested in higher-risk options to maximise growth.
If you are more than 20 years from retirement, all your savings are invested in the EMPOWER High Growth Fund.
Later, your pension savings will be gradually switched to the EMPOWER Growth Fund, which has slightly lower risk and return expectations.
When you are reasonably far from retirement, your pension savings are invested in higher-risk options to maximise growth.
If you are more than 20 years from retirement, all your savings are invested in the EMPOWER High Growth Fund.
Later, your pension savings will be gradually switched to the EMPOWER Growth Fund, which has slightly lower risk and return expectations.
11 to 6 years from retirement
As you get closer to retirement (usually 11 years from retiring), approximately half of your pension savings are gradually moved to lower-risk investments in the EMPOWER Stability Fund.
Moving funds to lower-risk investments helps protect your pension savings from volatile markets.
As you get closer to retirement (usually 11 years from retiring), approximately half of your pension savings are gradually moved to lower-risk investments in the EMPOWER Stability Fund.
Moving funds to lower-risk investments helps protect your pension savings from volatile markets.
6 years from retirement
When you are 6 years from retirement, your pension savings are then gradually moved into funds that align best with the retirement options you plan to take. This helps to protect your savings.
Your pension savings are moved into funds that match our best belief as to how you plan to use them when you retire. The fund names are EMPOWER Cash Fund, EMPOWER Annuity Objective Fund and EMPOWER ARF Matching Fund.
For example, you might:
Depending on your circumstances, we will move your pension savings into the funds that best match the benefits we believe you are most likely to choose.
When you are 6 years from retirement, your pension savings are then gradually moved into funds that align best with the retirement options you plan to take. This helps to protect your savings.
Your pension savings are moved into funds that match our best belief as to how you plan to use them when you retire. The fund names are EMPOWER Cash Fund, EMPOWER Annuity Objective Fund and EMPOWER ARF Matching Fund.
For example, you might:
Depending on your circumstances, we will move your pension savings into the funds that best match the benefits we believe you are most likely to choose.
As an alternative to the Personal Lifestyle Strategy, you can choose your own fund (also known as a self-directed pension). You can select from an approved range of funds that are listed under the investments section of your pension portal.
EMPOWER PLS stands out from other investment strategies as it adapts to your situation and gives you a personalised outcome based on your pension plan data held with us. Instead of locking you into a single, fixed option, it gives you more flexibility and choice.
Your pension savings are invested in the best options we believe are most suitable for you. We strive to protect your pension savings from market fluctuations as you approach retirement, but savings values will still fluctuate and growth in pension savings over time isn’t guaranteed.
EMPOWER PLS tailors your investments by selecting funds that suit your unique circumstances. It invests your pension savings by focusing on the benefits we believe you are most likely to use when you retire.
The EMPOWER Personal Lifestyle Strategy helps protect your pension savings from market fluctuations as you approach retirement age. It automatically switches to lower risk funds as you approach the last 6 years before you retire.
A focus on long term growth EMPOWER PLS reflects our best investment thinking for long term pension growth. It stays up to date with investment trends and regulatory changes.
Free consultation
If you want to learn more about the Irish Life EMPOWER Personal Lifestyle Strategy, please get in touch.
Contact our Pension Education Team via email.
Adds real value to your total pay and your employee benefits package
Helps you save for retirement and plan your income after you stop working
Our Pension Education Team provide useful advice and financial education support
Irish Life's EMPOWER Master Trust offers smart investment options and easy online access
Resources
If you want to learn more about the EMPOWER Personal Lifestyle Strategy across our range of products, please read through our information booklets.
EMPOWER PLS for Defined Contribution Schemes
EMPOWER PLS for Additional Voluntary Contributions (AVCs)
EMPOWER PLS for pension members targeting tax-free cash only
EMPOWER PLS for Personal Retirement Bonds (PRBs)
EMPOWER PLS for Personal Retirement Savings Accounts (PRSAs)
