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From 2027, almost everyone will accrue a pension with us through a contribution scheme.
In the case of a contribution scheme, you invest money in your pension together with your employer. Together with the results of the investments, this goes into your pension pot. When you retire, we convert this into an amount for your pension.
In the new pension scheme there are 2 types of contribution schemes:
Watch these 2 short videos to see how both contribution scheme works.