| Thinking of joining? |
| Why do I need a pension? |
| How much would I pay? |
| What other benefits are there? |
| What do I need to do to join? |
How much would I pay?
Membership is free: Core Credits of 6% of your Pensionable Pay are paid into your Personal Account by the Company. You don’t have to contribute if you don’t wish to.
If you do decide to contribute, the Company will match your regular monthly Contributions up to a maximum of 6% of your Pensionable Pay. The table below shows the amounts which can be credited to your Personal Account, based on the amount you choose to pay:
| Core Company Credits | Your Contributions | Matching Company Credits | Total into your Personal Account |
| 6% | 6% | 6% | 18% |
| 6% | 5% | 5% | 16% |
| 6% | 4% | 4% | 14% |
| 6% | 3% | 3% | 12% |
| 6% | 2% | 2% | 10% |
| 6% | 1% | 1% | 8% |
| 6% | 0% | 0% | 6% |
If you wish to pay more you can do, up to 100% of your Pensionable Pay. However, the Company will only match your contributions up to 6%. Any contributions you pay are normally subject to tax relief. You can also change your contributions at any time.
Try for yourself! Use the 'Contribution calculator' to model different contribuition levels and work out the net effect on your monthly pay. |
Investing your contributions
You can choose from a range
of funds for the investment of your Personal Account. There is a
choice of individual funds, or a ‘Lifestyle strategy’ where
your Personal Account is invested according to a pre-determined plan (set
by
the Trustee).
Click
here for further details of the options available.
Finding out more
Have a look through the Members’ guide and
find out more about the potential benefits of membership.
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| Company |
| Contributions |
| Core Credits |
| Matching Company Credits |
| Pensionable Pay |
| Personal Account |
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| Click here for quick links to the most frquently asked questions |
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