- Get the most from the DC Top-up Section
- Contribution options
- Your investment choices
- Documents and FAQ
Joining the DC Top-up Section
You may be eligible to join the DC Top-up Section if you're currently a member of:
- The Centrica Retirement Income Section (CRIS)
- The Centrica Pension Plan (formerly know as the Centrica Management Pension Scheme)
If you are a member of the above schemes, you may be eligible to join the DC Top-up Section if you have been impacted by the Pensionable Salary cap (this may be the Pensionable Earnings cap or Pensionable Pay cap depending on your main Centrica pension arrangement salary definition).
The Pensionable Salary cap restricts pensionable salary increases to 0% if your pensionable salary is £38,000 or above. Broadly speaking, once your basic salary is higher than your pensionable salary the difference is known as the Top up salary.
You can build up pension savings based on your Top up salary in the DC Top-up Section.
How do I join?
Please visit MyPension Hub to find out more and start paying Additional Voluntary Contributions (AVCs). MyPension Hub can be directly accessed through Workday - External Benefits with no log-in details required.
If you're not in the above pension schemes, then you're not eligible to join.
The Trustee will not accept a transfer of your benefits from another pension scheme.
Investments can down as well as up, and the amount returned may be less than the amount paid in.
Laws and tax rules may change in the future. The information here is based on our understanding in April 2022. Your own circumstances also have an impact on tax treatment.
What do you have to do?
1. Make sure you read all the important information
To help you make an informed decision the important information you need to read is in the important documents section on this page. These documents, along with this website, will help you understand the DC Top-up Section.
2. Decide how much to pay
As a member of your DC Top-up Section you are able to choose what percentage of your Top up salary you want to contribute. Centrica pay an additional amount on top of your contributions up to a maximum of 10%. You are able to pay contributions of more than 5% of Top up Salary if you wish, however, those extra contributions would not attract any further contributions from Centrica.
3. Choose where you want your money to be invested
When you become a member of the DC Top-up Section, you’ll have a number of investment options to choose from.
Where your money is invested is up to you. There are choices to suit your level of experience with investing and how involved you want to be with managing your investments.
To help you make an informed decision we've provided you with important information that you should read. You should print or save copies of these documents for future reference.
Read this guide for more information on the DC Top-up Section. Please note, due to recent investment changes a new guide will be available in early 2018.
Read this guide for more information on the different ways you can pay into your pension, and the tax benefits and tax charges which can apply.
Please access Mercer OneView via MyPension Hub (Workday - External Benefits) to nominate or update your beneficiaries online.
Read this guide if you are thinking about buying an annuity.
These documents have been provided by the Trustee of the Centrica Savings Plan and Centrica Pensions Plan Saving Section - Standard Life is not responsible for the content.