I'm new to the Scheme

There is a variety of benefits when you save into a pension, and the sooner you start, the better.

Welcome to your new DB pension

Welcome to the Railways Pension Scheme (RPS) – by joining the Scheme, you’ve already made a great start towards a better future! 

How your DB pension works
A welcome mat

A defined benefit (DB) scheme pays you a regular income based on your salary and how long you’ve been a member of the scheme, rather than the amount of money you’ve contributed to the pension.

The RPS defined benefit Sections are mostly ‘final salary’ schemes and give you a guaranteed annual income for life, based on your final or final average salary.  

The DB scheme also includes some Career Average Revalued Earnings (CARE) arrangements where your pension is based on your earnings right across your membership. Each year, your benefits are increased so they keep their value against inflation. Inflation is the increase in prices over time. 

Your Member Guide provides all of the information you need to get started. You can access it and find out which type of pension you have, by registering for a myRPS account.

A hand about to press a button
Manage your pension

The easiest way to manage your RPS pension and actively plan for retirement is to use your myRPS account.

You can get a copy of your Member Guide, ask for estimates, use planning tools, check/update your details... and more!

What to do first - registering for a myRPS account

The first thing to do is to register for your secure myRPS online account. Once you log in, you'll be able to:

  • visit the New Joiner area for an overview of how your membership works
  • watch a short video explaining how to use the website
  • find your Member Guide, which explains your benefits and options
  • check or change the funds you invest in
  • use the Pension Planner to see how much your pension may be worth in future 
  • ask for estimates of your retirement benefits
  • complete a 'Nomination' to say who you'd like us to make a payment to if you die

All you need to register is your:

  • Pension Reference Number – you can find this in your welcome letter
  • National Insurance number
  • Date of birth
  • Email address (use a personal email address if you have one, rather than your workplace one)

If you would like to use a mobile number to log in to your account in the future, you can add one in at the registration stage. This will need to be verified once you've logged in to your account.

What to do after registering for a myRPS account

As soon as possible you should do the following 3 things after registering for a myRPS account: 

1. Nominate for your death benefits  

Your family and/or beneficiaries could get a cash lump sum if you die while you’re still working. By nominating, you can say who you’d like that lump sum to be paid to.

You can make, check and change your nominations anytime in your myRPS account. Simply log in and go to the My Pension area and then the My Nominations page. 

For more information about nominations and why they’re important please see the nominations for death benefits page. 

2. Get to grips with your online tools

Whether you want to plan for your life after work, or simply want to know more about pensions and the RPS, there are plenty of tools on this website to help. 

Use the dropdown arrows below to discover more. Then log in to your myRPS account to give them a go. 

You can also find more information to help you understand your pension in the Knowledge hub area of this site. 

RPS tools for guidance
Information about the Retirement Budgeting Calculator tool available to members
Details of some of the guidance tools available to DB members

3. Remember to check back regularly

Life never stands still and your retirement plans may change. So it’s important to review your pension regularly to make sure it meets your current circumstances and your future needs.

This includes checking:

  • your contact information
  • your nominations
  • how much your pension might be worth when you stop work

You can also find regular updates to help manage your pension in the news and views section of the website. 

What to read next...

Benefits of my membership

Your RPS membership offers great benefits for you and your family so make sure you understand them. 

10 things to know about pensions

Get to grips with your pension in this handy list of things to know.

Saving more

Find out how to boost your pension savings by making Additional Voluntary Contributions (AVCs).