If you are able to join it is a valuable part of your pay and reward package.
Some of the reasons you might want to join the fund:
Secure benefits
- The fund provides you with a guaranteed future income. Unlike some schemes your pension is not affected by share prices and stock market fluctuations.
- Once you take your pension it will go up in line with inflation, protecting you from rising prices.
A low cost to you
- Your employer pays significant amounts of money into the fund.
- You get tax relief on your contributions - including extra amounts you pay to top up your benefits.
- You can take a lump sum when you retire, which in most cases will be tax free.
- There are no hidden fees or charges - you simply pay a percentage of your pay.
Benefits for you and your loved ones
- Protection for you in case you have to take your benefits early through ill health.
- Pensions for dependents if you die.
- Life cover of three years pay - from the moment you join.