How payments are made

Deduction from salary

Your payments will be deducted from your salary before you're taxed, which means you’ll pay Income Tax on a lower amount. It also means that your personal tax rate position is taken into account immediately.

For example, if you're a basic rate taxpayer and you want to make payments of £100 a month, £100 is taken from your salary before your tax liability is calculated. You can normally expect to pay £20 less in tax as a result, although the tax benefit could vary depending on your personal circumstances.

Tax rules and limits may change in the future. The information here is based on our pension experts’ understanding of the current situation, and assumes that you are a UK resident paying UK tax. Your personal circumstances also have an impact on tax treatment.

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 pension product your employer has chosen.

Key features document (PDF, 288KB)

Read this member guide for more information about how pensions work and how you make payments.

Making the most of your pension  (PDF, 262KB)

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 guide (PDF, 740KB)

This document gives you an illustration of what your pension could be worth. It may not take into account rebates that may apply to your AVC plan. You can find more info about charges and rebates on the charges page.

Key features illustration (PDF, 220KB)

Read this guide for more information on the different ways you can pay into your pension, and the tax benefits and tax charges which can apply.

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

There are important differences between with profits and other types of investment. If you’re thinking of investing in with profits read the guide.

Guide to your with profits investments for pensions (PDF, 175KB)