The low-involvement option - the Centrica Gateway Strategy

What is it?

The Trustee with the help of their adviser, has chosen an investment option which they believe is a good choice for most people in the company pension. Unless you decide to move your money into another investment option, this is where it will stay.

This investment option is the Centrica Gateway Strategy and it's designed to make saving for retirement easier.

How does it work?

Low-involvement - changing your investments as you get closer to retirement

The low-involvement option -the Centrica Gateway Strategy, is designed for the long haul so it needs to change as you move through your career. As you get nearer to retirement it is generally appropriate to move your money into funds which are more appropriate at retirement. The Centrica Gateway Strategy does this for you.

In general terms, when you start your pension savings, the Centrica Gateway Strategy invests in a fund which offers growth potential over the long term. When you get to 15 years before retirement, some of your money will gradually and automatically move into investments that support the broad range of different benefit options that are available to members at retirement.

Find out more about some of the changes announced 

What does it cost?

Standard Life takes a percentage of the money you invest in each fund for administering your Plan and managing your investments.

However, Centrica has negotiated a special deal on your behalf, which means that Standard Life rebates part of this charge by crediting extra units to your fund(s) each month.

You can find further details about charges and rebates in the What are the charges? section.

Things to be aware of

  • You should make sure any lifestyle profile you choose matches how you plan to take your retirement income.
  • As lifestyle profiles make changes to your investments based on your selected retirement date, they may only be suitable if you're planning to start taking your retirement income on this date
  • Before you choose an investment option, make sure you understand its aims and risks
  • As with any investment, the value can go down as well as up, and may be worth less than you paid in
  • If you choose to invest in the Centrica Gateway Strategy you can combine this with investment in any individual fund that does not form part of the Centrica Gateway Strategy

So what now?

  • If you're happy to keep your money in this option, you don’t need to do anything
  • If you’d like more information about this option, including the funds it invests in and what its objectives are, you can read the Centrica Savings Plan booklet (PDF, 1MB)
  • If you don’t want to stay invested in this option, then take a look at your other investment options
  • Remember, you are in control and you can change your investments at any time you choose.

Important documents

To help you make an informed decision we've provided you with important information that you should read. You should print or save copies of these documents for future reference.

Read this guide for more information about the Centrica Savings Plan. 

Centrica Savings Plan booklet (PDF, 1MB)

Please update your beneficiaries for your lump sum death benefit payment online via MyPension Hub (Workday - External Benefits).

If you have left employment with Centrica please complete this form to nominate beneficiaries.

Expression of wish for payment of the Lump Sum Death Benefit  (PDF, 86KB)

Read this guide, provided by the Trustee of the Centrica Savings Plan, if you are thinking about buying an annuity. Standard Life is not responsible for the content.

The Open Market Annuity Service Limited  (PDF, 146KB)

The Trustee of the Centrica Savings Plan has provided a newsletter for its members. Standard Life is not responsible for the content.

infocus - Centrica Savings Plan newsletter (PDF, 750KB)

Investments explained

Ever wondered why your money is invested? And how investment works? It’s not as complicated as you might think.