Where are you in your pension journey?
Watch our two-minute summary of the benefits of SAUL Start.
Whether retirement is still a while away, or right around the corner, it's never a bad time to start thinking about your future. SAUL Start is your workplace pension, which you can use to build your retirement savings.
As a SAUL Start member, you build up a pension pot for later in life.
Most of the cost of your SAUL membership is paid by your employer. You pay 6% of your salary into SAUL. If you pay tax, you also save money through tax relief from the government, so your take-home pay will go down by less than 6%. Your employer puts the equivalent 15% of your salary into your pension pot every month. They also pay the equivalent of 1% of your salary to SAUL Start to help cover the costs of running the plan.
The money you and your employer pay in is invested to help it grow. SAUL chooses a default investment option for you, but you can choose a different fund from the range available if you prefer. You can easily change funds in your online account.
If you change jobs and leave your SAUL employer, you can leave your pension savings in SAUL Start and we'll continue to look after them – or you can transfer your pension to your new employer's scheme, if you want to. So you won't lose track of your pension savings.
If you stay in SAUL Start for three years, you'll move to a new plan – SAUL Lifetime – which gives you more certainty over the long term.
You can also choose how to take your pension pot when you retire. We'll write to you with your options. You'll be able to take some, or all of, your savings as a lump sum, or get a fixed monthly income.
From the day you join, you're covered if the unexpected happens. If you die while paying in, we'll pay your loved ones a tax-free lump sum of eight times your salary, and what's in your pension pot.
And if you're too ill to work, you may be able to get the money from your pension pot early.
You can find out more about the benefits of SAUL Start on our website – our quick guides are a great place to start.
And if you have any questions, please feel free to contact the Legal & General team. We're here to help.
It's really easy to keep updated on where you want the money in your pension pot to go, should you die
if you’re in SAUL for more than three years, you’ll also build up a SAUL Lifetime pension, which is based on your salary.
Read more about SAUL Lifetime on our website www.saul.org.uk/futurelifetimepension.
You’ve been enrolled or joined SAUL Start. Find out more about:
Now you’re saving for your future, you should think about:
You’re 10 years or less from retirement. It's time to consider:
You’re retiring within the next 12 months and starting to finalise your plans. You should consider:
A list of documents available to help you understand how your plan works.
You can find out more about how the money from your pension is invested to make a difference on our Environment, Social and Governance Hub.
If you want to make changes to your plan, you can do this by logging in to Manage Your Account. You’ll also be able to contact us through our Secure Message Centre.
If you need help, you can call or email us (please note call charges will vary, we may record and monitor calls. If you’re contacting us by email, remember not to send any personal, financial, or banking information. Email is not a secure method of communication).
