As a member of the Scheme, you make regular contributions, worked out as a percentage of your Contribution Earnings.
Your contributions are deducted from your earnings before tax. This means that you will automatically receive income tax relief on your contributions at your highest rate. So, for every £10 that you contribute to the Scheme, the actual cost to you is £8 (assuming you pay tax at the current basic rate of 20%). If you are a higher or additional rate tax payer, please use the relevant tabs above which provide a example of how your contributions would be calculated.
The contribution structure is different depending on when you joined the Scheme, and whether you work for Foods or Retail. Foods refers to all employees with the exception of Fortnum and Mason employees who joined the Scheme after 28 November 2014 and all Primark employees. Retail refers to Fortnum and Mason employees who joined the Scheme after 28 November 2014 and all Primark employees. Please select the appropriate option for you.
The Company also pays into your Pension Account; the amount is linked to the level at which you choose to pay. You can change your options by completing the appropriate Contribution Change form and sending it to your Payroll team.