How to join
Normally you will join the plan automatically at your joining date, but you can choose to opt out if you want to. Government legislation requires us to ‘re-enrol’ you every 3 years; you can of course opt out again.
How it works
Most employees automatically join when joining Siemens.
You pay in contributuons. Siemens also pays in to your account.
You can access your savings from age 55. The normal retirement age is 65.
Benefits of joining
- Siemens will make a monthly contribution to your personal pension fund.
- The more you contribute, the more you will get from Siemens (up to 10% of pensionable salary).
- You save tax and national insurance on your contributions paid through MyChoice.
- Siemens covers the administrative costs of running the Plan.
Click here to see the level of retirement income you might expect.