Skip to main content

What contributions are paid into the Lifestyle Plan?

As a member of the Plan you will receive a contribution from the company. The level of the contribution is based on your age as set out in the table below.

If you contribute the standard rate of 5% the company's contributions will be as follows:


% of pensionable earnings

Under 45


45 - 49


50 - 54


55 - 59


60 plus


Your Ordinary Contributions

As a member of the Plan your standard rate of contribution is 5% of your pensionable earnings.

Additional Voluntary Contributions and additional help from the company

If you pay Additional Voluntary Contributions (AVCs) then the company will make a further contribution of 50% of whatever you contribute in AVCs. Any AVCs also benefit from tax relief and National Insurance savings where paid via PaySmart. AVCs are therefore an attractive feature of the Plan and a great way to maximise the contributions being paid into your Lifestyle Account.

Extra Contributions

You can also pay Extra Contributions (ECs) in addition to your AVCs and your Ordinary Contributions. EC's attract tax relief, but do not attract a company top up.

To start paying or increase Ordinary Contributions, AVCs or ECs, please complete the Contribution change form.

Alternative contribution levels

If you don't feel able to pay the standard 5% contribution then there are alternatives available. The Trustees and the company recognise that finding the money to save is not always easy and therefore the following alternative rates are available.

If you would like to find out more detail, please see the Members' Guide.

You will also get tax relief from the government on anything you pay in.

Keeping up to date with your Lifestyle Account is easy with our online service, Manage Your Account. Register today.

Tax year rates and allowances

The tax allowances are set by the government each tax year. Find out what they are and how they could affect you.

Boost your savings

Why not have a look at your spending habits and see where you could make a few savings?