[Closed] Pensions question

Deposit fund will be a cash fund (like a bank account) With Profits is not as popular as it once was and generally returns over the last few years have been poor (it's a mixture of a bit of everything, property, shares, bonds etc) and discretionary will likely be the investment funds option which will be mostly stocks and shares based.
Depending on your age you are probably better off over the longer term in the discretionary funds but of course there is no guarantee of this. The earliest you'll be able to draw your pension will be 55 unless you are over 50 already so look to the long term rather than deposit based funds.

Of course it all depends upon your attitude to risk in the first place though....

Thanks MrT. I am over 50 and like medium risk (I guess). So I reckon I could go 60% discretionary 40% deposit?

Talk to somebody about the discretonary fund choices as fund performance will make a massive difference over the course of your pension. If you're retiring at, say, 65, then you could still have a good length of time to go. Remember, deposit based funds (usually) carry no risk but you'll be doing well to get more than 1-2%pa at the moment and quite probably lower than that and rates are expected to stay low for years to come. With Profits (WP)can still be a valid choice for some people and is designed to smooth out the ups and downs of the stock markets. Prudential are still pretty good on WP but a lot of other companies have not treated their WP customers very well over the last few years in my opinion.
BUT... if you are happy with the currenty size of yor pension pot then you could bang the whole thing into deposit for the best peace of mind. If it's a large company scheme there should be a scheme adviser to whom you can talk.