Welcome to the Reach Pension Plan
See how your pension works and manage your long term savings.
FAQs
This Q&A section provides information and answers to some of the most commonly asked questions about workplace pensions.
A pension is a tax efficient way of saving for your retirement. You and your employer can contribute and there is also tax relief on your contributions from the government. For more information, please visit our page all about your workplace pension. Tax treatment depends on personal circumstances and all tax rules may change in the future.
There is a ‘Your Plan Explained’ booklet to help you navigate everything you need to know about the Reach Pension Plan. Here you’ll find all the important information you need to help you decide whether the Plan is right for you.
This document is quite detailed and covers, for example, the aims of the Plan, the risks involved and the investment choices available to you. We also let you know how you can access your pension savings when you decide to take them and give you some examples of what your pension might be worth. We have had to use a few technical words but we’ve provided explanations through the document.
It’s easy to become a member of the Plan. In fact in most cases, it’s all done automatically to help you better prepare for your retirement. For more information, please visit our page explaining your workplace pension or contact the Reach Pensions Office on 020 7293 2050 or by email at pensions@reachplc.com
As a member of a workplace pension administered by Fidelity, you can leave it up to the experts to make investment decisions for you or self-select and manage your investment choices yourself. For more information, please visit our page about investing.
No. The Reach Pension Plan is not a final salary or ‘defined benefit’ (DB) arrangement. It is a ‘defined contribution’ (DC) plan.
If you have a final salary/DB plan with Reach, you can get more information about your entitlement under that plan by contacting the Reach Pensions Office on 020 7293 2050 or by email at pensions@reachplc.com
Your contributions are automatically invested for you in the Plan’s default option, which is the Flexible Income Strategy. If you wish, you can change this and choose your own investment choice by self-selecting investment funds from the range available. The value of investments and the income from them can go down as well as up. For more information, please visit our page about investing.
Yes – The annual allowance is the limit on how much you can save into your pensions each tax-year while still benefiting from tax relief on your contributions, any employer contributions and any contributions made on your behalf by someone else. Find out more about the annual allowance.
The tapered annual allowance further limits the amount of tax relief high earners can claim on their pension contributions by reducing the annual allowance. Read more about how this might affect you and the steps you can take to make your contributions more tax-efficient. Find out about tapered annual allowance.
Once you begin taking taxable money from your pension savings using pension freedoms, generally you will be subject to a reduced annual allowance that limits the tax relief that you can receive on future contributions. Find out more about how and if this might affect you on our Money purchase annual allowance page.
To understand costs associated with the Plan and how this may affect your pension value, please visit our costs and charges page and search for your scheme.
For specific costing information on the fund or funds you are invested in, please login to PlanViewer and refer to the fund fact sheets.
Over your working life, you may build up savings in several pension plans. This could be through changing jobs, leaving employment or switching to a personal pension. When this happens you have different options to consider. For more information, please visit our page on moving pensions. It's important to understand that pension transfers are a complex area and may not be suitable for everyone.
If you leave your job, any contributions being paid into your workplace pension will stop. Your pension will remain invested until you’re ready to take your benefits (normally from age 55 onwards (57 from 2028)). It will still be up to you to decide what you want to do with it in the meantime. Keep in mind that the value of investments can fall as well as rise.
You can leave your pension savings invested where they are or you can normally transfer them into any other UK registered pension scheme. For more information please visit our page on transferring out.
Your retirement planning will depend on your age, when you want to retire and the type of retirement you want to enjoy. We can help you to understand what you might need to support the retirement you want; whether you’re on track for it; and what income options might suit you. For more information, please visit our planning for your retirement pages.
Our tools and calculators can help you work out how healthy your finances are today, and how much you should be saving for tomorrow.
PlanViewer is your secure online pension account - it’s like online banking but for your pension. You can view your account balance which is updated daily, contributions paid in by you and your employer. You can also find information about the investments available on the fund factsheets, switch your investment choice and transfer pensions online, and view the latest versions of the Plan's literature. You can access it via desktop or the app. For more information, please visit our frequently asked questions about managing your account.
Important information - please keep in mind that the value of investments can fall as well as rise. This information is not a personal recommendation for any particular investment or action. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser. The minimum age you can normally access your pension savings is currently 55, and is due to rise to 57 on 6 April 2028, unless you have a lower protected pension age.