Benefits

The Fund offers a range of valuable defined benefits for members, whether you’re working or retired.

While working

Contributions - you and your employer pay into your pension, which means the cost of saving towards retirement is shared. The government does its bit too by offering tax relief on your contributions, meaning even more savings.

You can also join BTP's salary sacrifice scheme, 'Pension Plus', to take advantage of paying lower National Insurance contributions. Please speak to your employer if you would like to find out more.

Death in service lump sum - the Fund provides a lump sum for beneficiaries of members who die in service. It's very important to check that your Nomination form is up to date so the Management Committee knows who you would like to receive the lump sum.

• The quickest and easiest way to keep an eye on your nominations is to register for a myFund account. Once registered you can log in, and check and change your nominations whenever you want.
  
  
• Alternatively, you can fill in a form.

Pensions for dependants - your dependants (usually spouses, partners and children) may also get a pension if you die in service.

You can find out more about death benefits and how they are paid on the reporting a member's death page.

Saving more

Additional Voluntary Contributions (AVCs) are designed to ‘top up’ your pension. They're a tax-efficient way to pay extra and save more. 

BRASS is the AVC arrangement for the 1970 section.

AVC Extra is the AVC arrangement for the 2007 and CARE sections (also suitable for 1970 section members if you are paying the maximum into BRASS).

 AVCs might work for you if:

• you have extra earnings such as bonuses or overtime;
• are thinking about taking your benefits early (subject to eligibility); or
• just want to save a bit more towards your retirement.

When you retire

You can choose to take your Fund benefits in the way that suits you best.

You will get a pension for life, and you can also take a tax-free lump sum (up to certain tax limits)​.

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