What do Tesco and I have to pay?
You can choose to save from 4% of your pensionable pay every 4 weeks.
Tesco will match how much you save up to 7.5%.
You pay
Tesco pays
Total
4%
4%
8%
5%
5%
10%
6%
6%
12%
7%
7%
14%
7.5%
7.5%
15%
More than 7.5%
7.5%
More than 15%
If you want to save more than 7.5% of your pensionable pay you can do that too, but the Tesco match will be limited to 7.5% of your pay.
What is pensionable pay?
Generally pensionable pay is all earnings apart from bonuses. Colleagues may receive some special payments, for example car payments, which are not included in the pay for calculating contributions.
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