• Payment options

Payment options

How much will you pay?

When you become a member of the Fenner Retirement Plan, you’ll pay in a minimum percentage from your pensionable salary every month. On top of this Fenner will also pay in a percentage of your pensionable salary. And you get tax benefits because your payments are deducted from your salary before tax is calculated.

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. Ask your local HR/payroll department for more information about this.

Your payment options

You can adjust your payments and you can pay as much as you like up to the Government payment limits.

What will I get back?

"Are you going to have enough in your pension to give you the retirement you'd like?"

Change your payments

Keep up to date with your payments and find out how you can change the amount that you're paying.

 Remember

Your pension is normally a long term investment and you usually can't withdraw money until the age of 55 (may be subject to change). As with any investment, the value can go down as well as up and may be worth less than what was paid in.

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.

Read this guide for more information about the Fenner Retirement Plan.

Member guide  (PDF, 374KB)

Read this outline for more information about the Standard Life Master Trust.

An outline of your employer's plan  (PDF, 264KB)

Complete this form to nominate beneficiaries for a lump sum death benefit payment.

Instruction for payment of the lump sum death benefit  (PDF, 87KB)

This summary is to be read along with the Member outline document.

Plan summary (PDF, 59KB)

Read this guide for more information and the tax benefits and tax charges which can apply.

Information about tax relief, limits and your pension (PDF, 190KB)

This document provides you with more information on how you can take money from your pension flexibly. For more information on the other options available please see your Member Guide above.

How Drawdown Works (PDF, 211KB)

Read this guide for more information on choosing your investment options if you decide to take money from your pension flexibly.

Choosing investment options for a flexible income (PDF, 119KB)

Get the lifestyle you want

"How much should you pay to get the retirement you want?"

Manage your savings online

Check your pension value and investments easily and securely online