As a member of our Final Salary Pension Scheme, you receive:
- Benefits that are based on your Final Pay – or previous two years if higher
- A monthly pension when you retire that is index linked so it doesn’t depreciate
- A tax-free lump sum when you retire
- A pension and lump sum if you become too ill to work.
If you earn enough to pay tax and National Insurance, you’ll also:
- Pay lower national insurance contributions each month
- Pay less tax each month.
Your family or other beneficiaries will receive:
- Three times your gross salary in the event of your death
- A pension for your spouse, civil partner or nominated cohabiting partner
- Pensions for your dependant children if they are under the age of 18 or under 23 in continuing education.