Section A
News feed
BT application for Judicial Review: Important update
18
Jun
2018
On 5 June 2018, the Trustee wrote to Section A and B members who are potentially affected by a court application currently being brought by BT.
BT application for a Judicial Review
07
Jun
2018
BT has applied to Court for a judicial review of an HM Treasury decision that could impact how pensions in payment are calculated for certain Section B members.
Trustee updates actuarial factors
04
Jun
2018
From time to time the Trustee carries out a formal review of the actuarial factors which are used to calculate certain pension benefits.
GDPR – Updated Privacy Notice
14
May
2018
The Trustee of the Scheme has updated the Privacy Notice, which explains how we manage the personal information that we hold.
What you pay
You pay 6% of your Pensionable Salary each pay period.
These payments are known as your pension contributions and are deducted from your pay automatically. You get full tax relief on your contributions (under current law).
For example, if your salary is taxed at the basic rate of 20%, each £1 you pay into the Scheme costs you 80p. If your salary is taxed at 40%, each £1 you pay into the Scheme costs you 60p, and if taxed at 45% each £1 paid into the Scheme costs you 55p.
You will not receive tax relief on any pension savings that exceed the Annual Allowance.
Alternatively, you can decide to make your contributions through Smart Pensions, which increases your take home pay without changing your pension benefits. For more information please refer to the Smart Pension section.
You stop paying contributions if you leave the Company or when you retire, whichever happens first.
You can find out more about Contributions and Tax relief by referring to the ‘Section A Member Booklet’ in the Document library.