I'm a BRASS member

Your BRASS AVCs are a tax-efficient way ​of saving more towards your main Scheme pension benefits.

Contributions

Contact your employer if you'd like to pay more into your BRASS funds.

You can pay as little as £2 a week or £10 a month (if paid monthly).  Please ask your employer about the maximum you can pay. Network Rail members should check their BRASS guide for details. 

The most you can contribute to BRASS each tax year is the higher of either:

  • 15% of your gross pay, minus  your normal Scheme contributions; or
  • 20% of your pensionable pay plus pensionable Restructuring Premiums if you have them, minus  your normal Scheme contributions.

How much can I pay in?

You can top up your regular payments to the maximum allowed with a single amount at any time. ​

If you go over the maximum and still want to pay more, you can apply to join AVC Extra. ​

You need to speak to your employer about saving more into BRASS or AVC Extra.

Keep an eye on your fund choices 

Check your fund choices regularly to make sure you're saving towards the retirement you want.​

Check or change your investment funds at any time in myRPS.

If you're invested in a Lifestyle fund, it's important to​ let RPMI know your Target Retirement Age, ​so that your investments are matched to your needs.

Target Retirement Age

If you're invested in a Lifestyle Strategy, you should think about choosing a Target Retirement Age (TRA). This could be earlier or later than your section's Normal Retirement Age (which is usually between 60 and 65).

Your TRA triggers an automatic process ten years before you retire to make sure your funds are put into lower risk investments. Your minimum TRA is 50 or 55, depending on when you joined the Scheme.

Your maximum TRA is 75. If you don't choose a TRA, you will be defaulted to your Normal Retirement Age.

Please check and let RPMI know your TRA, or you may be invested in funds that don't suit your needs. You should also review your TRA regularly in case your plans change.

If you're not sure about your retirement plans or investment choices, talk to an independent financial adviser. Find a list of local regulated advisers on the Unbiased website.