AA Worksave Pension Plan
This plan is only available to new employees who joined the Company from the 1 January 2016.
The AA Worksave Pension Plan is a Defined Contribution (Money Purchase) pension arrangement. Both you and the Company pay contributions into ‘your pot’. The contribution rates both you and the Company pay are as follows:
- You can choose to pay 4% or 5% or you may elect to pay a higher contribution rate.
- The Company will pay 6% if you are paying 4%, 7% if you are paying 5% or more.
The benefits of the AA Worksave Pension Plan include:
- Retirement income that can be taken at anytime between the ages of 55 and 75 (subject to current legislation).
Note: The amount of your eventual retirement income is not guaranteed and depends on the value of your pension fund at retirement and how you choose to use your fund at that time.
- A wide choice of funds available to invest in with the freedom to switch between them.
- 4 x your salary plus a return of your fund on death.
Further details can be found by clicking here.
Please note that the AA Worksave Pension Plan is a totally separate pension arrangement and does not form part of the AA Pension Scheme. Also the Company will not make contributions to more than one scheme at a time.
If you would like to join the AA Worksave Pension Plan please complete the Application Form and Expression of Wish Form below:
|Worksave Expression of Wish Form|
|Worksave Application Form|