Save Smart
Know what you're doing
Contributions made now affect the income you’ll soon be accessing.
Stay alert:
1. Make the most of what the Company offers.
2. Consider paying AVCs (if you need to).
Make the most of what the Company is offering
The Company pays employer core contributions of 6% of your pensionable salary at no cost to you. The Company will match every 1% you contribute up to a maximum of 6%.
You can change your member contributions every 3 months via ELEMENTS.
Consider paying AVCs
If, after reviewing your plans and income needs after work, you want to boost your savings, you can do so through the Plan by making either regular or one-off (lump sum) additional contributions.
Visit MyPension to find out more.
IMPORTANT: make sure you consider your Plan contributions in the context of your total retirement savings and know the applicable tax limits…
Watch out for tax
There are limits to how much you can tax-efficiently contribute (the Annual Allowance) and save in pension savings (the Lifetime Allowance). Read more about these limits and recent changes.
The Company can offer alternative options for those who exceed the current tax limits, so if you think you are affected, contact the Plan’s administrator to find out more.