Does my employer contribute?

If you are thinking of joining you may be interested to know that your employer also pays into your pension fund

Members monthly contributions do not cover the amount they receive when they retire. Therefore it is down to the employer to pay the remainder to cover the cost the pension fund incurs when a member retires.  This means that the investment risk lies with the employer, not the employee.

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The contribution rate paid by the employer is calculated by the pension fund actuary and is based upon the particular membership profile of each employer, so, as a result employers pay different contribution rates. Details of the individual employer contribution rates are shown in the latest annual report and accounts which can be found in the 'investments' section of this site.

Our Jargon Buster may help with pensions terminology.