Ashbourne Staff Pension Policy

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1. From 1st February 2020, Ashbourne’s contributions for staff that have been continuously employed for a period of more than 10 years will continue to increase by 0.5% each year up to a new maximum of 10%.

2. Table A below illustrates the increases in Ashbourne’s contributions on a yearly basis, according to the scheme.

Table A

Years Employed	Ashbourne’s Contribution	Employee’s Contribution	Total
3 months – 1 year	3.0%	5.0%	8.0%
1 – 2 years	3.5%	4.5%	8.0%
2 – 3 years	4.0%	4.0%	8.0%
3 – 4 years	4.5%	3.5%	8.0%
4 – 5 years	5.0%	3.0%	8.0%
5 – 6 years	5.5%	2.5%	8.0%
6 – 7 years	6.0%	2.0%	8.0%
7 – 8 years	6.5%	1.5%	8.0%
8 – 9 years	7.0%	1.0%	8.0%
9 – 10 years	7.5%	0.5%	8.0%
10 – 11 years	8.0%	0.0%	8.0%
11 – 12 years	8.5%	0.0%	8.5%
12 – 13 years	9.0%	0.0%	9.0%
13 – 14 years	9.5%	0.0%	9.5%
14 + years	10.0%	0.0%	10.0%

What happens next
3. Staff may amend their pension contribution by informing Ashbourne’s Finance Team ([email protected]) provided their combined contribution (Employer’s and Employee) meet the minimum requirement of 8%.

Opting out
4. Staff have the option to opt out of Ashbourne’s pension scheme at any time. Should they wish to opt out, both Ashbourne and the staff member will not have to make any contribution.

5. Opting out is not recommended as the staff member would lose the subsidies to their pension from Ashbourne and the government. However, those that wish to do so should contact Ashbourne’s Finance Team ([email protected]).

Keep track of your money
6. Staff can keep track of their pension money, or view/change their personal information, using their Online Account with Royal London.

7. To set up or log in to your Online Account, please speak to the finance or administration team.