Is there an impact to not investing?

Comparison of a £10,000 lump sum held in either cash or the Tailored Plan (BlackRock LifePath 2025-27). It takes into account plan performance, UK rate of inflation, and management fees. After almost five years the difference in value is £4,169.12, with the Tailored Plan increasing in value and the cash lump sum decreasing in value.
Chart: PensionBee Source: Office for National Statistics