Airbus UK Pension Scheme | Retirement Plan Schedule 4
What is AGUK Schedule 4?
The Retirement Plan is a defined contribution, money purchase pension pension scheme for all new employees. It is a tax efficient way to save for your retirement. This scheme has been open to all new employees since 2013.
Membership is not compulsory, and you can cease membership at any time if you wish, but you will be enrolled automatically again in 3 years’ time.
More information about AGUK Schedule 4
When you are enrolled into the Retirement Plan an investment account is opened automatically in your name.
When enrolled, you start on a 4% pension contribution of your basic salary with a 6% employer contribution.
This will be invested in the default investment fund Airbus Drawdown Lifestyle Profile or you can choose from a range of investment funds that suit your lifestyle and needs.
You have 3 months to change your contribution amounts to:
- 5% or 6% with an employer match of 7% and 8% respectively.
After your initial first three months as a new joiner, you can then change your level of contributions every April.
All the necessary information and documents will be sent to you after 4 to 6 weeks of joining the company
Your pension contributions are made under a salary sacrifice pension arrangement where the employer pays your pension contributions and your salary is reduced by this amount.
Useful links and information
You can log in to your online portal at Manage your account
To check your Benefit statements
Change your personal information
Change your investment strategy
Update your expression of wish
There is a 6 times your annual earnings death in service benefit. Please update your expression of wish to help the Trustee decide who any death benefits should be paid to.
You may top up your retirement benefits by paying Additional Voluntary Contributions (AVC’s).
You are free to contribute as much as you want provided you have enough monthly pay to cover the AVC contributions. These are not deducted under salary sacrifice, but you still benefit from tax relief on these contributions. AVC’s can be used to provide cash or extra pension on retirement.
Please click here to access the AVC Google form( Internal network only)
AVC’s are administered by Legal & General. Your AVC’s can be found at Manage your Account and AVC.
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We are here to help
For any further information on your pensions, please contact the Group Schemes and Benefits Team
