Airbus UK Pension Scheme | Schedule 2
What is AGUK Schedule 2?
This section of the Airbus Pension Schemes remains open to existing members but is no longer open to new members.
Schedule 2 is a Defined Benefit final salary pension scheme and is a tax efficient way to save for your retirement.
How your Defined Benefit is calculated
Your Defined Benefit pension is calculated using the best of three calculation methods:
- Basis 1 – 2% of your Final Pensionable Earnings for each year of Pensionable Service less the Relevant Basic Deduction and the Relevant Earnings Related Deduction.
- Basis 2 – 1.5% of your cumulative Pensionable Earnings over your total Pensionable Service.
- Basis 3 – 17.5% of 3% contributions since joining the Scheme, plus Credited Interest
More information about AGUK Schedule 2
Your pension contributions are made under a salary sacrifice pension arrangement where the employer pays your pension contribution of 8% of your pensionable earnings and your salary is reduced by this amount.
Members of the Airbus Schedule 2 Pension Scheme can - log in to view their accounts and and other pension information online whenever you want to by accessing the pensions administrators portal where they can do the following actions:
- Benefit statement
- Change personal details
- Run retirement quotes
- Update your Expression of Wish nomination
Useful links and information
Please click here to visit EPA
You may top up your retirement benefits by paying Additional Voluntary Contributions (AVC’s). AVC’s can be used to provide cash or extra pension at retirement.
The total that you pay into the Scheme (your core contributions plus any AVCs) are not allowed to exceed 19% of your gross earnings.
Please click here to access the AVC Google form( Internal network only)
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We are here to help
For any further information on your pensions, please contact the Group Schemes and Benefits Team
