Your future starts here

What’s going on in the pensions world?

Keep up to date with the latest pensions news and developments in the Fund.

How you can make the most of financial wellness month

1. Make the most of your website

If you haven’t already, register for your myFund account, where you can easily manage your pension.

2. Get a rough idea of what you need to aim for

Use the Retirement Budgeting Calculator to see how much you may need to save for life after work. This takes into account things like where you plan on living and the lifestyle you’ll want, in retirement.

3. Use the free MoneyFit tool 

Take the 5-minute Attitude to Money Quiz to see what kind of money personality you have. You’ll be given a MoneyFit score, and a personal MoneyFit action plan, that’ll show you areas where you may be able to free up money to contribute to your pension savings.

4. Get financial advice if you need to

You can find a list of Independent Financial Advisers at unbiased.co.uk, or use our preferred partner Liverpool Victoria (LV), who have a good knowledge of the Scheme.

5. Think about making extra savings with Additional Voluntary Contributions (AVCs)

If your pension savings aren’t on track for the lifestyle you want in retirement, you can think about saving extra with AVCs. Learn more about these here.

6. Familiarise yourself with the Autumn Budget 2025 updates

Here are the highlights:

• The State Pension will increase by 4.8% from April 2026 to keep up with the cost of living.
• No changes were made to the tax-free lump sum. When you retire, you may still take 25% tax-free cash lump sum (but no more than £268,275) of your pension as a tax-free lump sum.
• New limits to salary sacrifice, where you give up part of your pay that your employer pays into your pension, will start from April 2029. This means you’ll pay National Insurance on any salary sacrifice contributions you make above £2,000 per year.
• The income tax thresholds for personal allowance (£12,570), higher rate (£50,270) and additional rate (£125,140) are frozen until 2030/31. 
• Unused pensions and death benefits may be subject to inheritance tax from April 2027.
  

You can learn more about these here.