If you joined the RNLI before 31 December 2006, you were offered membership of the RNLI 1983 Contributory Pension Scheme. This Scheme closed to contributions on 30 September 2012.
The RNLI provides all temporary and permanent employees (who have at least 2 months' service) with the opportunity to save for retirement. The RNLI realises the value and peace of mind that saving for retirement can give to employees. The RNLI pension is a significant employee benefit.
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All employees automatically have Life Cover as an employee benefit. More information on Life Cover can be found in the Member Handbook in the Library tab of either the RNLI Group Personal Pension Plan or the Zurich Master Trust (the RNLI's pension scheme in Ireland).
The age at which people can draw a State pension is steadily increasing.
A workplace pension is a long-term investment which is separate and in addition to a State Pension. You can draw a workplace pension at a date to suit you, from age 55 (57 from 2028). You can take a tax-free lump sum when you retire and as with any other form of income, you pay tax when you 'draw' your pension.
This site will help you find out more information about the RNLI pensions that you have joined as well as more information about the benefits of a RNLI pension if you haven't yet joined.
Did you know?
State Pension Age is increasing
Your State Pension Age is increasing to allow for people living longer. The State Pension is paid in addition to any personal or company pensions that you contribute to. As part of your planning for retirement, request a State Pension forecast to find out your own State Pension age and the likely value of your State Pension.
Retirement planning if you live and work in the UK:
The RNLI's Group Personal Pension Plan's Member Handbook, updated each April has helpful information to help you plan for retirement.
To book a place on an online Retirement Planning course, log onto the RNLI's Learning Zone. Then search for 'Retirement Planning'. Scroll down until you see the link to the Close Brothers website. Then click on the 'retirement seminars' tab and select a date/venue.
Retirement planning if you live and work in Ireland:
You can have a 1:1 retirement planning meeting with Aon when you are within 12 months of your retirement date. Email Pensions@rnli.org.uk to arrange this meeting.
Retirement planning if you live and work in the Channel Islands or Isle of Man:
You can have a 1:1 retirement planning meeting with the RNLI's Defined Contribution Adviser when you are within 12 months of your retirement date. Email Pensions@rnli.org.uk to arrange this meeting.
The earliest age you can draw your benefit is age 55
For more information on your retirement options click through to the relevant section of the site.
Qualifying for a UK State Pension
If you reach State Pension Age after 6 April 2016, you will need to have had 35 years full rate National Insurance contributions to qualify for the new Universal State Pension.
