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Investing your AVCs

As a member of the AVC section, your savings will be invested by the Trustee on your behalf, according to the investment options you choose.

AVC section offers two styles of investment. You can invest in BOC Lifestyle, an automatic investment approach, or you can select your own investments:

1. With BOC Lifestyle, the decision about which funds to invest in and when to change between them is done for you by the Trustee. Your Account is invested according to a set pattern which depends on your selected retirement age.
2. Alternatively, you can select your own investment strategy (i.e. the funds to invest in and when to switch between them). You are responsible for the strategy used being appropriate to your particular circumstances at any time. You can also include BOC Lifestyle in your fund selection.

There are different financial risks and rewards associated with each type of investment.

Before making your decision, you should read Your Guide to AVC Investments, which will help you decide which of the options are most appropriate for you. You should read the Guide carefully, as the way your retirement savings are invested will directly affect the amount of pension you will receive in retirement.

If you would like more information about the individual funds outlined in the Guide, you can download the following factsheets from the Investment Manager's website:

Growth funds	Protection funds
BOC Equity	BOC Corporate Bond
BOC Growth	BOC Global Bond
Aquila Life European Equity Index	Aquila Life Over 5 year UK Index-Linked Gilt
Aquila Life Japanese Equity Index	Aquila Life Over 15 year UK Gilt
Aquila Life Pacific Rim Equity Index	BOC Pre-Retirement
Aquila Life UK Equity	BlackRock Cash
Aquila Life US Equity
BOC Absolute Return
Global Equity 70:30

For BOC Lifestyle, see the factsheets for the BOC Growth Fund and BOC Pre-Retirement Fund. More information from the Investment Manager is available on the BlackRock website.

You can also download factsheets for general information about the three main types of investment funds:

Equities
Bonds and gilts
Cash

There are also some 'closed funds' that are no longer available for you to choose to invest in. However, there are a small number of members who have existing investments within these funds. You can read more in the Closed funds factsheet.

Remember that you need to review your investments regularly to ensure that they continue to be appropriate for your circumstances. This is especially true if you are invested in BOC FreeChoice, as there will be no automatic switching as you approach retirement (as there is with BOC Lifestyle). See the Reviewing your investments page.

Currently, you may transfer the value of any of your AVC investments to any of the other AVC section funds at any time without charge. If you would like to change the way your future and/or past contributions are invested download a Change of AVC Investment form.