- Joining the pension
Get the most from your pension
- Use the tools
- Boost your pension
- Approaching retirement
- Payment options
- Investment choices
- Common questions
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
|Rate you contribute||Rate Telefónica contributes||Total|
|9% or more||11.5% (maximum)||20.5% or more|
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.
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.
Read this guide for more information on all your investment options, including details about charges and fund codes.
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.