- Joining the pension
Get the most from your pension
- Use the tools
- Boost your pension
- Approaching retirement
- Payment options
- Your investment options
- Things to know about investing
- Check or change your investments
- Common questions
Benefits of company pensions
It's not just your payments
When you join your Avon Rubber Retirements and Death Benefits Plan, you’ll get extra money from Avon Rubber Plc UK Manufacturing. You'll also get tax benefits from HMRC. You get this from the moment you join, so every month you delay, you’re missing out.
Investments can go down as well as up and you may get back less than you paid in. Laws and tax rules may change in the future. The information here is based on our understanding in April 2020. Your own circumstances also have an impact on tax treatment.
You get this money invested from the moment you join, so every month you delay, you lose out on those payments and tax benefits.
This illustration shows you how things can add up. It assumes that both you and your employer are paying in. Your payment will also include basic rate tax relief where applicable.
This information is based on our understanding of taxation legislation and regulations in April 2020. The legislation and regulations can change. Your own circumstances also have an impact on tax treatment.
It's your pension
It's your pension, no matter what. It remains yours, even if:
- You move job
- The company you work for changes hands
If either of these things happen, you may not be able to keep making payments into it, but you may be able to transfer it into another pension if you move on.
Although Avon Rubber Plc UK Manufacturing contributes towards your pension, they don't look after it - they forward your contributions on to Standard Life who administer your pension on your behalf. This means if anything happens to your employer, for example they change hands or go out of business, you won't lose your pension.
You're in control
You can choose how much to pay - as long as you’re meeting any minimum payment levels set by Avon Rubber Plc UK Manufacturing. And you may be able to increase your payments at a later date if you want to - Avon Rubber Plc UK Manufacturing will be able to tell you when you can make changes and what restrictions there are.
It's worth thinking about this, as paying the minimum might not be enough to get you the lifestyle you'd like after you stop working.
When you join the Avon Rubber Retirements and Death Benefits Plan, your money automatically goes into an investment option your employer has chosen, unless you've chosen something different.
You can choose to leave your money there - or you can decide to move it into a different option you think will suit you better.
Where your money is invested is up to you. There are choices to suit your level of experience with investing and how involved you want to be with managing your investments.
Whichever choice you make doesn’t have to be final - you can change your mind about where your money is invested.