BlackRock are closing their LifePath funds

 

BlackRock have notified us that they are closing down their LifePath funds. If your Moneybox Pension is currently invested in BlackRock LifePath, we need to migrate those investments to a new fund.

To do this, we have created three new Moneybox funds in partnership with Amundi, the largest European investment manager. These new funds – Cautious, Balanced, and Adventurous – will launch on 08/12/2025.

The Moneybox fund you get moved into will have an investment strategy and risk level that is closely aligned to your current LifePath fund. Here’s a timeline of what to expect leading up to and during the migration.

 

Migration timeline

Friday 28th November

Existing customers won’t be able to rebalance into BlackRock LifePath funds or add BlackRock LifePath funds to their allocation from this date.

Wednesday 3rd December

If you have a weekly deposit enabled, this weekly collection will settle into your new Moneybox fund.

Sunday 7th December

At 6pm, easy bank transfers will be disabled. New and existing Moneybox customers will also be unable to open a Moneybox Pension from this time.

Monday 8th December

Easy bank transfers will be re-enabled, and customers can start investing in the new Moneybox funds.

We’ll also prevent rebalances that sell BlackRock – which means any money you have in a BlackRock LifePath fund on this date will be moved to a new Moneybox fund.

Plus, you’ll be unable to withdraw from, cancel, or transfer out your Moneybox Pension until 24/12/2025 if you hold BlackRock funds at this point. If you’re in your cancellation period during the migration, we also won’t be able to honour the cancellation until the migration is complete.

Wednesday 24th December

The migration will complete, and you’ll be able to see your new Moneybox fund investment in the app.

During the migration (from 08/12/2025 to 24/12/2025), we will not be able to process requests to transfer out, withdraw from, or cancel your Moneybox Pension – but you can still make those requests if you wish.

Requests to transfer out, withdraw from, or cancel your Moneybox Pension that are made during the migration period will take a minimum of three business days to process after the migration has completed on 24/12/2025.

 

FAQs and useful documents

You can read our Moneybox funds FAQs for more information. Below, you will find the individual factsheets which provide a simple overview of each fund, their risk levels, and top holdings.

• Cautious
• Balanced
• Adventurous

If you would like further information about the investment strategy of the funds, you can find the Key Investor Information Documents (KIIDs) here.

• Cautious KIID
• Balanced KIID
• Adventurous KIID

 

Do you need to do anything?

No, we will automatically start moving your BackRock LifePath investments into your  new Moneybox fund on 08/12/2025, and the migration will complete on 24/12/2025.

We acknowledge that you will be out of the market for four business days during the migration, and we’ve tried to minimise this as much as possible. This short gap ensures your investments are moved securely.

 

How to edit your investments

If you want to edit your investments before the migration takes place, you can do so by going to Settings > Allocations > Change allocation. You can do this up until 11:59pm on 07/12/2025.

 

Expect lower fees

Investing into a Moneybox fund means you will pay lower fees than you used to.

For Moneybox funds, we charge a 0.15% service fee (previously called ‘platform fee’) which is capped at £150 a year, and the fund fee is 0.29%.

Other providers’ funds (like your previous BlackRock LifePath fund) have a higher service fee of 0.45% with no annual cap, and the fund fee is set by the provider.

Please note, the dates included above may be subject to change. If that happens, we’ll let you know as soon as possible.

To reflect these changes, we’ve updated our Terms and Conditions, KFD, FSCS webpage, and Order Transmission Policy, with the changes to take effect from 08/12/2025.