My payments

Paying into your Scheme pension means you have more control over your future.

Pension payments from both you and your employer

You pay regular contributions into your pension and these are taken directly from your wages.

You can find out what percentage of your wages you pay to the Scheme in your Member Guide. You can find the guide by logging in to your myRPS account and then going to 'My Library'.

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Remember, you’re not the only one who pays into your Scheme pension:

  • Your employer also pays in and shares the cost with you
  • The government offers tax relief on contributions. This means more savings for you because contributions are taken from your gross salary before you pay income tax. 

Saving more

You can choose to pay in more to ‘top-up’ your main pension savings. This is known as making Additional Voluntary Contributions (AVCs). It’s a tax-efficient way to pay extra and save more.

You can also read more about AVCs and how they work on the saving more page of the website. 

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You may want to think about AVCs if you...

  • have extra earnings such as bonuses or overtime
  • are thinking about taking your benefits early (subject to eligibility), or;
  • want to save a bit more towards your future
Reducing your payments

There may be times in life when payments to your pension need to change.

You cannot change the amount you pay from your wages, as this is set by the rules of the Scheme.

However there are times when the amount taken may change automatically, for example, during family leave or a career break. You can find out more on the my circumstances have changed page and in your Member Guide.

If you’re considering pausing or stopping your pension payments then there are various rules that will apply. You can find out more on the leaving the scheme page but please think carefully before you make a decision. Both the Financial Conduct Authority (FCA) and the Pensions Regulator (TPR) believe that it will be in most people’s best interests not to leave their defined benefit pension.

Tools to help you plan your Additional Voluntary Contributions

If you're still paying into the Scheme, you can use the Pension Planner to see how much your pension could be worth when you retire and if you're saving enough. You can also model the impact of paying Additional Voluntary Contributions (AVCs).

There is a limit on how much you can pay into the Scheme’s main AVC arrangement –  known as BRASS – in each tax year. You can check your limit using the BRASS calculator tool.

Both tools are in the Planning for the Future area of your myRPS account if you're still paying into your Scheme pension.

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