Benefits

The RPS ​offers a range of valuable benefits ​to members, ​both working and retired. 

While working

Contributions - You’re not the only one paying into your ​Scheme pension. Your employer shares the cost​ and the government offers tax relief on contributions, meaning more savings for you.

Death benefit lump sum - This may be paid out if you die in service. Check your section's Member Guide for details.  Your dependants (e.g. family) may also get a pension.

AVCs - you can pay Additional Voluntary Contributions (AVCs) to ‘top-up’ your main pension savings. They are a tax-efficient way to pay extra and save more.

See BRASS and AVC Extra for details. 

You might 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.

You can choose how to invest your contributions so it’s a good idea to keep an eye on your fund choices to make sure they’re working in the way that’s best for you.

When you retire

You can take your RPS benefits in a way that works best for you.  

Most importantly, if you have defined benefits, you will get a pension for life. If you have defined contribution benefits, you will build up a fund that can be used to​ buy a pension.

You can also get a tax-free lump sum (up to certain tax limits) in return for a lower level of pension. For example, in many Shared Cost sections, you can receive £12 of lump sum for every £1 of pension you give up.

When you die, your dependants could also get a lump sum and/or pension.