This section of the PAS scheme is now closed to new joiners, but existing members continue to build up further benefits.
About this section of the scheme
The Final Salary section of PAS is a defined benefit scheme, where the benefits built up are worked out using a set formula based on the number of years and days you have as a scheme member and on your final pensionable salary at the date you leave the scheme.
You can download a summary of the main benefits of the Final Salary section of PAS below, and more detailed information can be found in the scheme booklet, also available to download below. Each year you'll receive a statement proving details of the estimated benefits you'll build up if you remain in the scheme until age 65.
Death in service benefits
If you die while you're an active member of the scheme, a lump sum of 3 times your pensionable salary will be payable to your dependant nominee. You can download and complete the Member Wishes Form below to provide a guide as to who you would like the lump sum to be paid to.
A spouses or adult dependants pension may also be payable. This would automatically be paid to your spouse but, if youre unmarried but have an adult who is financially dependent on you, you should complete the Potential Dependant Form below.
Increasing your scheme benefits additional voluntary contributions (AVCs)
To increase the value of your benefits on retirement, you can pay extra contributions to the scheme. These are known as additional voluntary contributions (AVCs).
AVCs are a very useful way of filling a gap in your pension benefits if you dont have a lot of benefits from other sources, or you could use AVCs to enable you to retire early. AVCs are also a very tax efficient way of improving benefits. Theyre deducted from your pay before tax is calculated and so you get tax relief at your highest rate, eg an AVC contribution of £100 only costs £80 to a basic rate tax payer.
The AVC arrangement offered by PAS allows you a choice of investments. You can download the AVC booklet below for details.
Please e-mail the Pensions department to request an AVC application form.
If youre considering retirement, you might want more details about the benefits youve built up in the scheme, and the options available to you. Please e-mail the Pensions department, giving an idea of your planned retirement date, and theyll provide an estimate for you.