We don’t know yet how exactly your pension will be affected. That depends on the pension scheme you’re currently in and the agreements that your employer or industry will enter into for your pension.
You’ll soon be accruing pension through a contribution scheme. The contribution scheme allows you to grow an amount of money in a pension pot. That money grows through the premium you pay and the return on investments.
In the new pension, you’ll continue to accrue pension through a contribution scheme.
The type of contribution scheme depends on your industry or the choices your employer makes.
In the new pension, you’ll continue to receive your pension each month, for as long as you live. Your pension doesn’t run out. Your pension will increase or decrease each year. This is because your pensions will adapt to the economy.
You can accrue a pension with us through an average pay scheme or a defined contribution scheme. Don’t know which pension scheme you have? Simply log in and check your pension scheme at your pension details.
