How much does it cost?
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You currently contribute 6% (7% if you are a Fire Service member) of your pensionable salary each month.
Your contributions are deducted from your salary before tax so the actual difference in your take home pay is less than 5% (6.5% if you are a Fire Service member).
Your pension benefits
The cost of your pension and life assurance benefits provided by the Scheme is significantly more than the cost of your contributions.
The Company pays the balance of the cost of providing your pension and life assurance benefits along with the expenses of administering the Scheme.