Planning for retirement

Options for IWDC members 

IWDC is the defined contribution section of the Railways Pension Scheme (RPS).

You can find out more about your options as an IWDC member using the picture links.

You'll also find further details about how your IWDC pension works below. 


As a member of the IWDC, both you and your employer pay in money that is then invested into funds.

The pension you receive is based on the performance of those funds. So, it’s important you keep an eye on how they’re doing throughout your career. You can find out more here.

How much you get, could also depend on:

  • how much you and your employer have paid in
  • the investment return on what has been paid in
  • when you retire
  • how you decide to use your Personal Retirement Account (PRA)

These are all things to think about carefully, especially when you’re getting closer to retirement and might not have time to build up your pot through investments alone. Please use the links above to find out more. 

You can also use the IWDC retirement modeller in your myRPS account to experiment with your options.

Graphic showing how DC saving works - you and your employer pay in, your money is invested in a choice of funds, your PRA aims to grow over time and you then have options for taking your PRA