Payment options

How much will you pay?

When you become a member of The Telefónica UK Pension Plan, you’ll contribute a minimum of 3% from your salary every month. On top of this Telefónica will pay in too. And you get tax benefits from HMRC because your contributions 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. If you increase your payments, Telefónica will contribute more too (up to a certain percentage).

Your contribution options

You can adjust your contributions when it suits you and you can pay as much as you like up to the Government payment limits at any time by visiting

Rate you contributeRate Telefónica contributesTotal
3% 6% 9%
4% 6% 10%
5% 6% 11%
6% 9% 15%
7% 9% 16%
8% 9% 17%
9% or more 11.5% (maximum) 20.5% or more

What will I get back?

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

Change your contributions

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


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.

This document explains the features of the pension product your employer has chosen.

Key features document (PDF, 164 KB)

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

Becoming a member of the Telefónica Pension Plan (PDF, 771KB)

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)

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