Considerations when joining

How much should you contribute?

The more you save the greater your pension should be on retirement and the more likely it will be that you can retire earlier in life. The company will match your contributions up to 10% of your salary so you should consider making the most of this offer. Look carefully at what you can afford and use the Interactive Tools link above to help you decide.

Choosing Investments?

You are not forced to choose your own investments; the Plan will do it for you automatically, for example if you do not feel confident in making your own decision. But there are a range of options, so why not take a look? What is your attitude to risk for your savings? The Investment Options link above will help.

When do you want to retire?

Will you be able to afford to retire when you want to? Most people take their company pension when their state pension comes into payment, but you are not compelled to take them together. You also do not need to have left O2 to take your pension. When you join the Plan you are asked to state your target retirement age - the default is 65 but you might want to think about whether this is right for you.

Should you make contributions under 'Salary Sacrifice'?

The Plan has been designed with tax and National Insurance (NI) efficiency in mind and therefore you will be able to save tax on your pension contributions and, if you choose, NI by Salary Sacrifice. When you are joining the Plan, the joining page on the O2 Rewards website will pre-determine whether it is broadly in your interests to make contributions on a Salary Sacrifice basis. However, there may be personal factors that mean that this is not the most suitable option for you; for example you may not be planning to stay at O2 very long or you may value the state pension more highly than your private savings. Take a look at the Salary Sacrifice page to find out more.