L&G workplace fund

Victorwelldue

Further to a previous thread I have been thinking about my pension investment fund quite a bit but still unsure of a couple of things. I'm 49 with £60K salary, currently no mortgage or debts. I have a Legal & General workplace pension L&G PMC multi-asset 3 (Fund ID NTW3) current pot value £112K (started pension late). This is a lifestyle profile pension that L&G will move to less risky investments as I approach retirement age. I previously misunderstood the "3" to be a risk category but its actually nothing to do with risk, it refers to L&G's generation 3 fund types. The risk category is 4 but I'm still confused as to whether that's 4 on a scale of 1 to 7 as shown on fund fact sheet or 4 on a scale of 1 to 10 as indicated elsewhere in L&G literature? Current total monthly contribution including employer & tax uplift is £1250 and I will soon be increasing that figure to £2000 for a year or so then around £2700/month thereafter, increasing in line with wage increases. Looking to have option to retire around 60 to 62 if possible but I'm flexible on that by a couple of years and I'd be happy with income of around £1500 per month net in todays money until SP kicks in.

Current fund is 39% equities, 28% alternatives, 33% corporate & government bonds but I think I need to be in a multi-asset/diversified fund closer to 60% equities.

So my questions:

1. As I'm in a workplace pension it seems I am limited to only certain funds that L&G allow me to pick? Is that assumption correct or can I invest in any fund I choose? If so how would I go about picking a fund that is not available to me when I log into my pension online?

2. If I am limited to only certain funds then it seems there is very little choice in multi-asset funds that I can pick. The only interesting one that I've seen is L&G PMC Threadneedle Managed Equity 3 (B0M3) but that seems to be mostly equities and I don't think I'd be happy with that level of risk. Can anyone else in similar position suggest any other decent L&G funds that would be available to workplace pension holders?

3. Assuming I'm barking up the wrong tree (which I feel I must be) can anyone suggest a suitable multi-asset fund with around 60% equities?

4. Finally is the fund I'm currently invested in so bad? Appreciate past is no guide to future but its the only thing I have to go on and looking at last 5 years its averaged 9.04% annual growth which doesn't seem too bad  although I appreciate inflation also comes into play.

Albermarle

1.T he fund choice should be clear from the website and you can only pick from those.
2. You could find a more suitable blend by having more than one fund.
3. L&G have their Multi Index funds which are quite well known  Are they not available ?
4 . Its not bad obviously, but the last 5 years have been kind to investors.

Victorwelldue

Thanks, that's most helpful. The multi-index funds don't seem to be available unfortunately.