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Lifestyle Strategies

What it is

A Lifestyle Strategy is a glide-path investment strategy for workplace pensions. It defines how an employee's pension portfolio is split across funds at different distances from their target retirement date, and rebalances the portfolio automatically as that date gets closer. The further from retirement, the more the strategy can favour growth funds; the closer to retirement, the more it shifts toward conservative funds.

Operators define strategies once at the platform level. Each company can pick a default strategy and choose whether to auto-enrol new employees onto it.

When to use it

  • You run a workplace pension scheme and want every employee on a sensible default investment mix without each member picking funds.
  • You want different age cohorts to be invested differently, with the mix shifting smoothly over time.
  • You want the rebalance to happen automatically when an employee's portfolio drifts too far from the strategy's targets.

Where to find it

There are three places Lifestyle Strategies show up:

  • Tenet admin Space → Finance → Lifestyle tab: define and edit strategies for the whole platform. The Finance page has its own sidebar — pick Lifestyle to switch to the strategies list.
  • Company Space → Settings → Strategy: pick a default strategy for the company and toggle auto-enrol for new employees.
  • Employee detail page → Pension card: see whether an employee is enrolled, their target date, current band, drift, last rebalance, and run a dry-run rebalance or opt them out.

How it works

Bands. A strategy is a list of bands, each covering a range of years to the target date — for example "20+ years", "10–20 years", "0–10 years". Each band lists which funds an enrolled member should hold and the target weight for each fund (in basis points; the row also shows the percentage). Weights in a band must total 100% before the band is valid.

Glide path preview. While editing a strategy, the right-hand sidebar shows a stacked-bar preview of how the mix changes across bands, coloured by each fund's risk category, so you can see the strategy at a glance.

Health summary. The top of each strategy page shows four numbers — Bands, Enrolled, Funds in use, and Status — and a Years coverage strip from 0 to 99 years to retirement. Each band is rendered as a coloured segment of the strip; uncovered ranges show as amber gaps so you can spot members of certain ages who would fall outside the strategy.

Coverage issues. If a band is missing at 0 years to target, an open-ended band is missing at the top, there are gaps between bands, or more than one band is open-ended, an amber Coverage issues callout lists exactly what's wrong so you can fix it before publishing.

Default strategy. One strategy can be marked as the Tenant default, shown as a starred Default button at the top of the strategy page (or Set as default if it isn't yet). The default appears first in the company settings selector.

Company settings. In Company → Settings → Strategy, an admin picks the default strategy for that company and flips Auto-enrol new employees on or off. The settings card also shows how many members are currently enrolled.

Auto-enrolment. When auto-enrol is on, a new employee is enrolled on the company's default strategy as soon as they're created, with a target date computed from their date of birth and the strategy's target retirement age.

Drift and rebalance. Each enrolment tracks how far the employee's actual fund mix has drifted from the strategy's target weights. The Pension card on the employee page shows the current band, years to target, last-rebalanced date, and maximum drift in percent. A scheduled command processes rebalances across the whole platform on a regular cadence; admins can also run a Rebalance (dry run) from the employee's Pension card to preview the buy/sell legs that would bring the portfolio back into line.

Opt-out. From the same dropdown on the Pension card, an admin can opt an employee out of their lifestyle strategy. Their portfolio stays where it is and is no longer rebalanced automatically.

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