Our Scheme

Star Group Pensions Scheme is made up of two sections, a defined benefit section and a defined contribution section.

The defined benefit section is closed to new members and to further accrual for existing members. The defined contribution section superseded the defined benefit.

The scheme year runs from 6th April to 5th April.

The scheme is set up as a trust whose assets are completely separate from those of the company. The scheme is managed by the trustees, two of whom are nominated by scheme members. The trustees monitor the scheme's investments on a regular basis and are responsible for the proper management of the scheme.

Under the scheme you have your own retirement account - your 'Individual Member's Account' (IMA). Your IMA provides benefits based on the contributions paid in by you and credited by the company and investment returns earned on those contributions. When you retire, the money built up in your IMA is used to provide your retirement benefits.

After you become an established member after five years you may opt to increase your contributions.

If you do decide to do this then the company will also increase its credit accordingly.

Can I pay extra?
You can if you wish pay additional voluntary contributions (AVCs) to increase your pension at retirement. This can be by paying AVCs to your IMA.

For more information please contact the Pensions office.

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Pensions Calculator

Find out in a few easy steps what your likely retirement income will be at retirement age. The Money advice Service pension calculator can give you an estimate of the income you will get when you retire.
Click on the below calculator to start your pensions calculator:

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