This is an overview of paying contributions into the Group. You can find more information in the Flexible Pension Savings guide available in the library below.

Members’ contributions

Since 6 April 2016, the standard rate of pension contributions is 8% of your salary*. Income tax relief is automatically given at your highest marginal rate on the whole of your contributions. You don't need to do anything to claim the relief.

Contributions normally cease after 40 years' contributory service. Employees who joined the Scheme before 1 April 1988 have a normal pension age of 60, and a right to carry on working. Contributions cease at age 60, or before, if pensionable service reaches 40 years.

*‘Protected persons’ pay contributions of 6% of salary. If you have paid a lower rate of contributions (either 3% or 5%) there may be a reduction in the benefits payable.

How much does National Grid pay?

National Grid pays contributions of at least twice the member’s contributions, together with any additional contributions required as a result of the actuarial valuation. The rate of employer contributions is published in the NGE Group’s Annual Report and Financial Statements available in the library below.

Transfers in

If you were previously a member of another company pension scheme or if you have another pension arrangement, then you may have the option to transfer into the Group.

The transfer is used to ‘buy’ you extra pensionable service in the Group. This extra service is known as a back-service credit.

The Group Trustee has discretion to accept transfer values from certain types of pension arrangements and will normally accept transfer values, except where they prove insufficient to cover any State equivalent benefits included in the transfer. Please note however that acceptance of a transfer cannot be guaranteed. You should contact Railpen if you would like to transfer your benefits from a previous pension arrangement.


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