Benefits of my membership
With your RPS membership, you get access to a wide range of benefits both while you're still working and once you take your pension.
While you’re paying into your pension, your employer is paying in too. That means more savings into your pension at no cost to you. You also benefit from tax relief on your contributions. You can read more about tax relief on the tax limits page.
If you die before taking your pension your loved ones might get a tax-free lump sum. You can tell the Trustee who you would like to get this by making a nominating when you log in to your myRPS account. Your dependants - such as your family - may also get a pension. For more information, please check your Member Guide, which you can find by logging into your myRPS account.
You have the option to ‘top-up’ your main pension savings by paying Additional Voluntary Contributions (AVCs). It’s a tax-efficient way to pay extra and save more for the future.
AVCs can be particularly helpful if you:
You can find out more about AVCs and how they work on the saving more page of the website. You can also use the Pension Planner in your myRPS account to see what a difference AVCs could make to your savings.
if you're still paying into the Scheme, the Pension Planner tool is a great way to get an idea of the benefits you may receive when you take them and model the impact of changing your retirement age, or adding extra savings through Additional Voluntary Contributions (AVCs).
When you log in to your myRPS account, you can find the Pension Planner in the Planning for the future area of your account.
As a defined benefit member...
It’s up to you how you choose to use it. For example you can:
It’s important that you understand the benefits and limitations of each of these options before making a decision. Find out more on the ways to take my pension page.
If you’ve been paying Additional Voluntary Contributions (AVCs) you can use the money in that pension pot to boost your pension even further. Find out more in the taking my BRASS page or the taking my AVC Extra page.
This may include: