Pension benefits for members in the SLC CARE arrangement
Clouds

On the 1st April 2024, the SLC section of the Magnox Group was reformed to a Career Average Revalued Earnings (CARE) benefit.

From this date, active members (those current employees who are paying into and building benefits up in the scheme) will start to build up pension benefits on a CARE basis. The pension benefits you have built up before that date are unaffected and remain final salary benefits and you retain a final salary link to those benefits.

If you left the scheme or retired before 31st March 2024 you are not affected by this change.

We are currently updating this website and scheme booklet and will publish further information as soon as possible.

In the meantime if you have any questions please visit the NDA portal or contact Railpen.

ALSO IN THIS SECTION...

Nominations

Find out about the death benefits your loved ones may be entitled to - and how to say where you'd like them to be paid.
READ MORE »

Boost your benefits

If you’re currently paying into the Scheme, you could join an additional voluntary contribution (AVC) arrangement to help save more towards your retirement.