Online estimates now include BRASS top-ups

Oct 11, 2021
If you're an active defined benefit member, you can now get an estimate which includes a BRASS top-up as part of our enhancements to the online estimates process.

What's changed?

Previously, if you were a member of a defined benefit Section of the Scheme, you could only model a BRASS top-up using the Pension Planner. Now, you can add a BRASS top-up, which is sometimes called a one-off contribution, when you're requesting an estimate. 

Why have we done it?

You need as much information as possible to help you plan earlier and more effectively. When you request an estimate, you can see how your pension savings are progressing and if they are on-track so you can meet your retirement goals. This new feature allows you to see the impact of saving more to your pension savings by making a BRASS top-up. 

Who is able to use this functionality? 

Only members of defined benefit Sections who still contribute to the Scheme will have access to this functionality. 

How do I access online estimates? 

You can request an estimate when you log into your myRPS account on the website. If you are not registered you can do so here. Once you've logged in, you can request unlimited estimates on the website. 

What if I'm not in BRASS?

Even if you don't have a BRASS account, you can still get an estimate with a one-off contribution. If you want to make that contribution, you would need to join BRASS by contacting your employer. 

How will I know how much to contribute?

We have also launched a new BRASS calculator, which is available in your myRPS account. By using this calculator, you can work out the maximum amount you can put into BRASS in a single period, which is defined as the current Scheme year. This should help you understand how much more you can contribute to BRASS via a one-off contribution. However, this calculator only provides an estimate and you should validate it with your employer before making any decisions. 

Will the estimates feature take that BRASS limit into account?

No. The BRASS calculator is there to help you understand how much you can contribute to BRASS in a period. Our online estimates will not take that limit into account and cap it. So be careful not to over-estimate. We recommend ensuring you understand your BRASS limits before getting an online estimate with a BRASS top-up. 

Will this make changes to my account?

No. The estimates feature only provides a projection of benefits. Adding a BRASS top-up to an estimate will not make any changes to your record. To make a contribution or join BRASS, you will need to contact your employer. 

What else do I need to know? 

Remember, an estimate is only a projection and not a guarantee of retirement benefits.