Investment webinar FAQs
11 November 2025
1. Aptia OneView
1.1 How do I access the OneView pension portal?
Current Dell Team Members can access OneView via single sign on through the Dell Benefits Portal in the quick links. No username or password is required.
Current Dell Team Members not on the Dell network or deferred members can access their OneView account here.
If you need to reset your username or password please complete the following form, accessed here.
1.2 Can I switch my investments via OneView
You can switch your investments in the Dell Scheme via OneView. You can choose whether to change only your existing investments, only your future contributions, or both.
To access OneView, please refer to Question 1.1.
1.3 Why does my annual Pension Statement show different figures to those shown on OneView?
The details shown in your annual Pension Statement are effective as at the end of the scheme year (5 April) and so are a snapshot in time of your pension savings; however, the fund value shown in OneView is current, hence the figures in the annual Pension Statement and OneView can differ.
2. Contributions
2.1 Do I receive tax relief on pension contributions?
Yes, you receive full tax relief on your pension contributions, including any Additional Voluntary Contributions (AVCs) you choose to make. In addition, you will not pay tax on contributions paid into your Retirement Account by Dell. However, there are annual limits (set by the Government) on the amount of pension contributions which receive tax relief. If you pay your pension contributions via salary sacrifice (this is the default approach when you join), you will also receive National Insurance contribution relief *.
You do not need to claim any tax relief from HMRC.
Further details can be found in the member booklet available on OneView. To access OneView, please refer to Question 1.1.
*In the 2025 Autumn Budget, the Chancellor of The Exchequer announced that pension contributions made via salary sacrifice will only receive up to £2,000 of National Insurance contribution relief per annum, with effect from 6 April 2029.
2.2 How do I change my monthly contributions?
You can change your contribution percentage through the Dell Benefits Portal anytime.
There is a Retirement Illustrator tool on OneView that can help you to understand how changing your contributions might impact your income in retirement. To access OneView, please refer to Question 1.1.
Pensions UK (formerly the Pensions and Lifetime Savings Association) produce their Retirement Living Standards. These standards show what life in retirement looks like at three different levels, and what a range of common goods and services would cost for each level. They may be useful in estimating how much money you will need in retirement and can be accessed here.
2.3 Can I pay a lump sum into the Dell Scheme?
Yes, you can pay a lump sum into the Dell Scheme (Current Dell Team Members only). Please refer to the Lump Sum Member Guide, which can be found on OneView. To access OneView, please refer to Question 1.1.
You can also pay regular Additional Voluntary Contributions (AVCs) into the Dell Scheme by changing your contributions on the Dell Benefits Portal.
3. Personal details
3.1 Can I change my communication preferences (email vs post)?
Current Dell Team Members should update their communications preferences via the HR system. These changes are then shared with the Dell Scheme administrator, Aptia, for updating. If you have left Dell please update your details via OneView.
To access OneView, please refer to Question 1.1.
4. Investments
4.1 Does the Dell Scheme invest in assets such as gold, silver or other precious metals?
There is a small allocation to precious metals within some of the multi-asset funds available to members, including the underlying funds within the default investment strategy (the Dell 2018 Flexible Retirement Strategy). However, the Dell Scheme does not currently have options for members to invest directly in precious metals.
4.2 If I choose income drawdown, will my pension savings stay invested?
If you choose to take income drawdown at retirement your pension savings will remain invested and you can withdraw funds as you choose. However, you will need to transfer your Retirement Account out of the Dell Scheme to an alternative arrangement that offers income drawdown at or before retirement.
The default investment strategy (the Dell 2018 Flexible Retirement Strategy), is designed to be suitable for members who wish to take income drawdown at retirement, or who don’t yet know how they would like to use their pension pot when they retire. Further information can be found in section 6 of this document.
4.3 How can I see investment performance for Dell funds?
Please refer to the fund factsheets on the Scottish Widows microsite. This link can also be found on OneView - please select the ‘Materials and Downloads’ tab, then the ‘investments’ tab, then ‘Fund Managers’ and click the link to Scottish Widows. To access OneView, please refer to Question 1.1.
4.4 How do I review my current investment choices?
You can review your investments in the Dell Scheme via OneView. To access OneView, please refer to Question 1.1.
4.5 Where can I find information on fund charges?
Please refer to the Investment Guide on OneView or fund factsheets. You can also download the latest annual Chair’s Statement from the OneView login page, which includes information on fund charges and example illustrations of the impact of the charges on the value of your pension savings over time. To access OneView, please refer to Question 1.1.
4.6 Will I be notified when pension de-risking begins in the run up to retirement?
Yes, if you are invested in one of the Dell Scheme’s lifestyle investment strategies (including the default investment strategy), you will be notified before your pension begins de-risking (i.e. moving into assets considered less risky in order to reduce fluctuations in the value of your pension savings in the run up to retirement). This starts eight years before your Target Retirement Age for all of the lifestyle investment strategies and you will receive a notification letter from the Dell Scheme administrator, Aptia, before your funds start to move. Further information can be found in the Investment Guide on OneView.
4.7 How do I change my Target Retirement Age?
You can change your Target Retirement Age via OneView. To access OneView, please refer to Question 1.1.
Please note, if you are invested in one of the Dell Scheme’s lifestyle investment strategies (including the default investment strategy), changing your Target Retirement Age will affect the timing of the process by which your investments are automatically moved to assets considered less volatile in the run up to retirement. For example, if you change your Target Retirement Age to an earlier date and this immediately brings you into the ‘de-risking phase’, your savings may be subject to significant de-risking. Similarly, moving to a later Target Retirement Age whilst in the de-risking phase could mean significant re-risking as your savings are moved into riskier assets.
4.8 How do the Trustees monitor and review my investments?
The Trustees monitor the Dell Scheme’s funds regularly, including detailed quarterly analysis of fund performance to ensure risk and return levels meet expectations.
The Trustees complete a comprehensive investment strategy review every three years to ensure the default investment arrangement remains appropriate for members and to ensure the alternative lifestyle and self-select investment options offered by the Dell Scheme are suitable for members who wish to select their own investments. In the years between the comprehensive strategy review the Trustees complete an annual ‘health-check’ review of the strategy. The Trustees complete these reviews with the help of their investment adviser, Mercer, considering factors such as performance, risk and value for money.
4.9 Does de-risking take place automatically if I am invested in the default investment strategy?
Yes, de-risking will take place automatically if you are invested in the default investment strategy (the Dell 2018 Flexible Retirement Strategy) or any of the other two lifestyle investment strategies. For information in relation to the default investment strategy and how it is invested at different ages, please refer to the Investment Guide on OneView.
To access OneView, please refer to Question 1.1.
4.10 What is the difference between the Dell Growth Portfolio and Dell Flexible Retirement Portfolio?
Both the Growth Portfolio and Flexible Retirement Portfolio use the same underlying funds, though the allocation to the underlying funds differ. The key difference is that the former has a higher allocation to equities (which are expected to provide higher returns over the long term, but with higher risk). Members invested in the lifestyle strategies (including the default investment strategy) are invested 100% in the Growth Portfolio until they are eight years from their Target Retirement Age, with the aim of maximising growth potential at younger ages.
Pension savings for members invested in the default investment strategy (the Dell 2018 Flexible Retirement Strategy) are gradually moved into the Flexible Retirement Portfolio from eight years from retirement. The Flexible Retirement Portfolio has a lower allocation to equities than the Growth Fund and a higher allocation to traditionally less volatile asset classes such as gilts and corporate bonds. This aims to reduce investment risk and volatility in the run up to retirement in order to maintain the value of the savings made thus far.
4.11 What is the difference between Scottish Widows and Aptia?
Scottish Widows is the investment platform provider for the Dell Scheme. Aptia is the Dell Scheme administrator. Any queries you have in relation to the Dell Scheme should be sent to Aptia.
4.12 How can I check and change my investment options and find out more about the self-select funds available?
You can check and change your investment options by logging in to OneView, clicking through to the investments tab and then investment choices.
You can find out more about the self-select funds available in the Investment Guide available on OneView and from the fund factsheets.
4.13 Is there a retirement tool to help plan for retirement?
Yes, there is a Retirement Illustrator tool on OneView. There you can model the impact of changing contributions, your earnings and adding other pension savings on your retirement outcomes. The assumptions used when calculating retirement income are confirmed on the Retirement Illustrator page.
4.14 Explain the naming convention of the funds available under the Dell Scheme.
Some of the funds are white labelled (those with “Dell” as a prefix), e.g. the Dell Passive ESG Equity Fund. These are a blend of multiple funds. The others are single fund options and the name reflects the investment manager and actual fund name.
4.15 Who owns the assets under the Dell Scheme?
As the Dell Scheme is a trust-based arrangement, the assets are held under trust; therefore, the Trustees of the Dell Scheme are the legal owners, holding the assets in trust on behalf of the members (separate from Dell’s assets).
4.16 When is the best time to make a change to my investment choices under the Dell Scheme?
The Trustees cannot provide investment advice.
If you need support with your investment choices it is best to seek independent financial advice. To find a suitable financial adviser, please visit MoneyHelper.
Please note past performance is not a guide to future performance.
4.17 Why does one of the self-select funds note that it excludes Japan?
The investment objective of the Legal and General Asia Pacific (ex Japan) Developed Equity Index fund is to track the performance of the FTSE Developed Asia Pacific ex Japan Index. To give wider context, it is common practice to consider Japan separately to other countries when investing in the Asia Pacific region as it has some specific economic characteristics that make it a unique country to invest in.
4.18 What are Collective Defined Contribution (CDC) Schemes?
CDC schemes are a type of pension arrangement designed to provide a target pension income in retirement. Contributions from all members are pooled together and invested collectively. Unlike traditional defined contribution (DC) schemes (such as the Dell Scheme) where each member’s pension pot is individual and directly linked to their own contributions and investment returns, CDC schemes share investment risks and rewards across all members.
4.19 Is the Dell Scheme subject to the Mansion House Accord initiative to increase investment in private markets?
No. The Mansion House Accord is a voluntary agreement between the Government and large workplace pension providers rather than specific pension schemes. The Trustees, with advice from their investment advisers, may choose to increase investment in private markets if, and when, deemed appropriate.
4.20 Are there alternative retirement strategies which target annuity or cash?
The default investment strategy (the Dell 2018 Flexible Retirement Strategy) is designed to be suitable for members who wish to take income drawdown at retirement, or who don’t yet know how they would like to use their pension pot when they retire. However, there are two alternative lifestyle investment strategies, one which is suitable for members planning to purchase an annuity at retirement (the Dell 2018 Annuity Purchase Strategy) and another which is suitable for members wishing to access their pension savings as cash at retirement (the Dell 2018 Cash Target Strategy).
Members can choose to invest in any of these investment strategies from the Investments section of OneView. Further details on these can be found in the Investment Guide on OneView.
4.21 Are there cryptocurrency investment options available in the Dell Scheme?
Currently, there are no cryptocurrency investment options available in the Dell Scheme. Cryptocurrency is a particularly volatile and unpredictable investment option, and institutional investment platforms, including the platform through which the Dell Scheme invests, do not tend to make cryptocurrency investment options available.
5. Transfers in and out of the Dell Scheme
5.1 Can I transfer other pensions into the Dell Scheme?
Yes, the Dell Scheme accepts transfers in from other pension arrangements, subject to various requirements being satisfied and at the discretion of the Trustees and Dell. You can contact the Aptia Administration team to confirm if your transfer would be accepted and, if so, to start the transfer in process: https://pensionuk.aptia-group.com.
It is recommended that you seek regulated financial advice before making any decision to transfer savings between pension schemes.
5.2 Can I transfer my savings in the Dell Scheme to another pension arrangement?
Yes, you can request a transfer of your savings. See Question 5.4, ‘How do I get a transfer out quotation?’ for details on how to do this.
5.3 Can I transfer my savings in the Dell Scheme to another pension arrangement and continue to contribute into the Dell Scheme?
Yes. See Question 5.4, ‘How do I get a transfer out quotation?’ below for details on how to do this. If you are only planning to transfer part of your Retirement Account, this is at the discretion of the Trustees and Dell. You will need to provide the administrators with detailed instructions regarding the amount of funds that you wish to transfer and the investments that you want to transfer or leave in the Dell Scheme, which will be provided to Dell and the Trustees for approval.
5.4 How do I get a transfer out quotation? The quickest way to obtain a transfer out quotation is via OneView. You can also download the necessary forms from OneView.
To access OneView, please refer to Question 1.1. You can also contact the Aptia Administration Team to request a transfer: https://pensionuk.aptia-group.com.
5.5 It is taking a while for my transfer to be processed. Why is this? There are detailed steps to be carried out in order to comply with the regulations governing the transfer of pension savings, these regulations are designed to protect all pension scheme members from potential pension scams. The gathering of this information from all providers involved can take some time, therefore please allow for this when planning to transfer your pension savings.
The Aptia Administration Team will inform you of the steps involved in transferring your savings and any additional information required to make the transfer. You can help to speed up the payment of your transfer by responding to all questions from the Aptia Administration Team quickly and in full.
5.6 If I leave employment with Dell, can I continue to contribute to the Dell Scheme? No, if you leave employment with Dell, your contributions will cease, but your pension savings will remain invested.
Important: If you no longer work for Dell, please go onto the OneView portal and update your beneficiary nomination to tell the Trustees who you wish to receive your Dell Scheme pension savings in the event of your death. Beneficiary nominations entered onto the Dell Benefits Portal while you are an employee of Dell are deleted if you leave employment and are not carried over on OneView.
5.7 In order to take my benefits, do I need to transfer out of the Dell Scheme? This will depend on how you wish to take you benefits. See Question 6.3, What are my options at retirement? for further details.
5.8 Can I make a partial transfer out of the Dell Scheme? You can request a partial transfer out of the Dell Scheme. This would be at the discretion of the Trustees and Dell. See Question 5.4, ‘How do I get a transfer out quotation?’ for details on how to do this.
6. Retiring from the Dell Scheme
6.1 How do I register for a pre-retirement seminar?
Current Dell Team Members who are two to three years from retirement can request to attend a Pre-Retirement Seminar by emailing Financial.Education@mercer.com.
6.2 I am planning on retiring soon. What do I need to do?
A pre-retirement information pack is automatically issued approximately six months before your Target Retirement Date. This is your 65th birthday unless you have selected a different Target Retirement Age.
If you wish to retire prior to your Target Retirement Date, please contact Aptia via https://pensionuk.aptia-group.com/ and they will provide you with a pre-retirement pack.
Note you can access your pension savings from 55 years of age. This is set to increase to 57 years of age from 6th April 2028.
6.3 What are my options at retirement?
There are a variety of ways that you can use your pension savings at retirement. However, this flexibility also means that care must be taken to ensure the choices you make are right for you and your individual circumstances. It is important to start planning for your retirement early. You can make use of the Government’s free Pension Wise service and you may also consider taking regulated financial advice.
When you retire, you can use your Retirement Account to buy your choice of retirement benefits:
- Annuity: Guarantee an income for life or for a specific amount of time by purchasing an annuity from an insurance company.
- Cash: You can take up to four cash lump sums from your pension savings (known as Uncrystallised Funds Pension Lump Sums or UFPLS). You can take one a year and the final one must be for the remaining balance of your Retirement Account. Your Retirement Account would remain invested until you have taken your final lump sum.
- Income drawdown*: You can transfer your pension savings to a separate pension policy and then leave them invested, while withdrawing money as you choose over time.
With all three of these options you can withdraw up to 25% of your Retirement Account as a tax-free cash lump sum. If you take more than one UFPLS, you can take up to 25% of each UFPLS tax free.
You can also choose a combination of the above options (for example, you could take part of your fund as one or two partially taxable cash lump sums when you retire, then use the balance for income drawdown* or to purchase an annuity).
*If you choose to take income drawdown, then you will need to transfer your savings to an alternative pension arrangement before retirement as the Dell Scheme is not able to facilitate this option.
Lots more detail on these options can be found in the Member Guide available on OneView.
To access OneView, please refer to Question 1.1.
6.4 How do I access the Pensions Decision Service? The Pensions Decision Service is designed to provide you with high quality and timely information to help you make the right choice at retirement based on your circumstances. All members will be offered the opportunity to use the Pensions Decision Service once they have received their retirement pack approximately six months before their Target Retirement Date (this is your 65th birthday unless you have selected otherwise). If you wish to retire prior to your Target Retirement Date, please contact Aptia via https://pensionuk.aptia-group.com and they will provide you with a pre-retirement pack.
When you have received your retirement pack from the Aptia Administration Team, you will be given details on how to arrange a discussion with a Retirement Relationship Manager. During the discussion, your Retirement Relationship Manager will walk you through a detailed journey to understand your benefits, circumstances and options. By the end of the discussion, you should have a clear understanding of the retirement options available to you and have an idea of how you would like to proceed.
6.5 Where can I get financial advice on planning for retirement? It is recommended that you get financial advice before taking your pension benefits.
The Trustees, Dell and Aptia are unable to give you financial advice.
To find a suitable financial adviser, please visit MoneyHelper.
The Pensions Decision Service (see Question 6.4) and the Government’s Pension Wise service provide guidance on your pension options at retirement.
6.6 What are the benefits payable on death from an annuity or income drawdown? The death benefits payable under an annuity policy will depend on the type of annuity purchased. Income drawdown benefits can usually be passed to a beneficiary on death. However, the death benefits payable will depend on the terms and conditions of the income drawdown product.
Benefits payable on death are subject to the prevailing tax legislation at the time.
When arranging an annuity or income drawdown ensure you request the death benefit details from the provider and complete any beneficiary details as necessary.
Important Notice
The value of your investments can go down as well as up, and past performance is not a guide to the future.
This FAQ document is only intended to provide you with general information. Neither the Trustees of the Dell Scheme nor Dell can provide you with investment advice or be held responsible for the performance of the investment funds. If you are in any doubt about your investment decisions it is recommended that you seek regulated financial advice.
Disclaimer This newsletter is for information only and does not constitute financial advice. The Trustees cannot give you advice on your pension options. Before you consider making any changes to your contributions or method of investments, you should always seek professional, impartial financial advice.