At a glance
Here are the main features of the Career average plan:
- Your pension is based on your pensionable earnings between two levels and the pensionable service you build up in the plan year by year.
- Your pension is normally paid at age 65 – but you may have the option of retiring early or late.
- The plan offers valuable protection benefits during your pensionable service in the plan – you may receive a serious ill-health pension if you have to stop work (provided you are aged at least 23 and you have been in the plan for at least five years), and your family may receive a cash sum and pension benefits if you die while in pensionable service.
- You pay 5% of your pensionable earnings between the two levels towards these benefits. You can also add to your benefits by paying extra contributions into the Investing plan.
- Unilever meets the costs of your Career average plan benefits not covered by your contributions. Unilever will also make a contribution of 12.5% of any pensionable earnings you receive above the higher level. You can receive this as a contribution into the Investing plan, take it as cash with your salary (less deductions to take account of tax and National Insurance), or combine both options.