Managing your pension
Membership of the Drax Power Group is a valuable benefit for you and your family. It's important to monitor your pension savings to make sure they’re working for you.
You currently contribute 6% of your pay (excluding overtime or other one-off amounts). You also get tax relief on contributions so the actual cost is lower for you.
Help your pension grow
Salary sacrifice - Drax pays your contribution (and its own contribution) directly into the Group before it becomes part of your pay. This means that your take-home pay is slightly higher than it would otherwise be, because you only pay National Insurance on the salary you receive. Salary sacrifice has no effect on your benefits.
Added years - ‘added’ years’ of Group Service can be bought with extra contributions.
Additional Voluntary Contributions (AVCs) - these are paid into a separate account and invested in funds to build up savings.
Keeping in touch
It's important to tell your employer and the Scheme about any change in circumstances. If your details are not up to date, this may affect your benefits – or your dependants’ benefits. You can let us know about life changes using the link below.
Highlights In This Section
Expressed Wishes
THINGS YOU CAN DO
