Joining – how it works

Joining the Faithful + Gould Personal Pension Plan

When you start working for Faithful + Gould you’ll normally become a member of the Faithful + Gould Personal Pension Plan, which is provided by Standard Life Assurance Limited.

That means you’ll start to benefit from payments from Faithful + Gould and valuable tax benefits from HMRC - so it’s not just you putting money towards your retirement.

Faithful + Gould may have set a waiting period for your scheme. For more information on this please refer to your employer.

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 2021. Your own circumstances also have an impact on tax treatment.

Benefits of company pensions

This illustration shows you how things can add up. It assumes that both you and Faithful + Gould are paying in. Your payment will also include basic rate tax relief where applicable.

What do you have to do?

To help you make an informed decision, the important information you need to read is in the important documents section on this page. These documents, along with this website, will help you understand the Faithful + Gould Personal Pension Plan.

Make sure you read the Key features document (PDF, 234KB) - this gives you information on the main features, benefits and risks of the company pension. If you need help making any decisions about the Faithful + Gould Personal Pension Plan, you should seek financial advice.

You have a few choices to make in the first month after you join the Faithful + Gould Personal Pension Plan:

1. Decide how much to pay

The Government has set a minimum amount that usually needs to be paid. This minimum amount is normally paid by you and Faithful + Gould. To find out what you and Faithful + Gould will pay, see the information provided by your employer.

You can stick with paying the minimum, but you should think about whether paying just the minimum will get you the lifestyle you want when you stop working. Remember, paying a small amount more than the minimum now could have a big impact on your future.

You can use the retirement planner to try different payment amounts and see the effect of increasing your payments.

Find out more about your payment options

2. Choose where you want your money to be invested

When you become a member, your money will automatically go into a low-involvement investment option that Faithful + Gould has chosen. Unless you pick another option, this is where your money will stay invested.

This investment option is a lifestyle profile, which means that as you approach retirement your money will automatically be moved into funds aimed at aligning your pension savings with your plans for retirement.

If this is the right choice for you, then you don't have to do anything - your money will stay invested in this option until you retire. But if you don't think it's the right investment for you, you can choose a different option.

Find out more about your investment options

3. Make sure staying in the company pension is right for you

Once you become a member you have a month to decide if you want to stay in the company pension or opt out.

It’s important to think carefully before opting out, as it would mean you’d lose out on extra payments from your employer, as well as valuable tax benefits from HMRC.

Find out more about opting out

Important documents

To help you make an informed decision we've provided you with important information that you should read. You should print or save copies of these documents for future reference.

This document explains the features of the product.

Key features document (PDF, 234kb)

This document gives you an illustration of what your pension could be worth.

Key features illustration (PDF, 161kb)

Read this guide for more information on your investment options, including details about charges and fund codes.

How to choose the right investment options for your pension  (PDF, 740kb)

Read this guide for more information about how pensions work.

Planning for more in retirement (tax relief)  (PDF, 396kb)