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How pension saving works

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Saving into a pension is a simple, low cost and tax efficient way to save towards your future. 

  • Your plan is set up for you by Greggs.
  • You and Greggs pay in, and the government helps out in the form of tax relief.
  • The money that you and Greggs pay into your plan builds up your pension pot.
  • Your pension pot is invested in one or more of our investment funds.
  • The aim of an investment fund is to grow the value of your pension pot.
  • You can decide what to do with your money, and how you take it from age 55, whether or not you’ve stopped working.

About your new plan

The Plan is part of the Legal & General Mastertrust (the Scheme). The Mastertrust is a defined contribution (or money purchase) pension scheme. It is managed by a board of Trustees who are legally bound to look after your money and put your best interests first. The current Trustees are:

Legal & General Trustees Limited,
PTL Governance Limited, and 
BESTrustees Ltd

How does the Mastertrust work?

  • Like your previous scheme, you can pay more regular contributions to your new plan through your employer.
  • Your pension savings are invested in one or more of our funds. 
  • The aim of a fund is to grow the value of your pension pot but this isn’t always guaranteed. 
  • You can decide what to do with your money, and how you take it from age 55, whether or not you’ve stopped working. 

To help you understand how your pension plan works, take a look at the Plan booklet.

If you’d like more information on how the Mastertrust works you can visit the Mastertrust website.

Are there any charges for your new plan?

There are some charges that you pay for your Greggs Pension Scheme - the annual management charge (AMC) for administration of the pension and the fund management charge (FMC). Greggs should have let you know what these charges are.

young_woman_working_on_desktop_square&circle_720px Contributions and tax  »
young_team_in_meeting_square&circle_720px How your pension pot is invested »