Scheme Information - Rolls-Royce Retirement Savings Trust

Get to know the Rolls-Royce Retirement Savings Trust

Whether you're an existing member, a new employee, or want to join the scheme, you're in the right place to find out everything you need to know.

The Rolls-Royce Retirement Savings Trust is the pension scheme for UK employees. All employers are required by law to have a pension scheme that eligible employees are automatically enrolled into. The Savings Trust is administered on behalf of the Trustee Board by Aviva, in partnership with the Rolls-Royce pensions team.

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Joining the Savings Trust

In the UK, the law says that employers have to put eligible employees into a workplace pension scheme without them asking to join. This is called Auto Enrolment

At Rolls-Royce, we’ll auto enrol you into the Rolls-Royce Retirement Savings Trust within three months of starting work – even if you don’t meet the eligibility requirements set out by the Government. But if you don’t want to wait, you don’t have to. Once you’ve started work at Rolls-Royce, go to Employee Hub and search auto enrolment to find out how to join straight away.

The Government require a minimum contribution totalling 8% to be paid, with a minimum of 3% coming from the employer. As you’ll see in the contributions section, Rolls-Royce exceeds this minimum from the day you join by paying 6% alongside your 3% contribution. And this continues to grow across your first three years of membership.

Look out for the communication we’ll send you with more information about auto enrolment. It’ll arrive shortly after you join the Company. If you’ve opted-out in the past but would like to join the Savings Trust, you can do so by going to Employee Hub and searching Join Savings Trust.

Tax relief - helping you to save

As a member of the Savings Trust, you receive tax-relief on the contributions that you make to the scheme. Whether it's your regular contribution, or any additional ones, the tax-relief is applied when it's taken from your pay.

To find out about how tax relief helps you to save for retirement, visit Employee Hub and search Savings Trust Contributions.

Although while there's no limit to how much you can save into the RRRST, there are limits on how much tax-relief you can receive. Find out about them below or by visiting Employee Hub and searching Tax Relief.

Additional benefits

Current employees are covered by our Group Life Assurance policy, which pays a lump sum benefit to your beneficiaries in the event of your death. You can find out more and check your personal level of cover by searching Life Assurance on Employee Hub.

Both current and former employees also have the value of their account returned to their beneficiaries.

Savings Trust members working at Rolls-Royce are also covered by our Group income Protection (GIP) arrangement. This provides an income if you are assessed as being unable to work due to illness or injury. For more information, search GIP on Employee Hub.

Your pension contributions

Rolls-Royce will pay a percentage of your pensionable earnings into your retirement pot.

Employee contributions will be deducted from your salary on a monthly basis.

Year  Employer contribution Employee contribution Total contribution
Year 1

Min 6%

3%

9%

Year 2

8%

4%

12%

Year 3

10%

5%

15%

 

Max 12%

6%

18%

Full flexibility up to 6% (with 12% from the employer) is available from the end of Year 3.

Documents

You can find further information about your pension scheme within the documents below. These documents may be updated – you can find the version date of the document on the bottom of the last page. If you require a previous version of a document, please get in touch.

Please note, documents marked with an asterisk (*) have been produced by Rolls‑Royce. Documents without an asterisk have been produced by Aviva.

RRRST Trustee newsletters*

The Trustee newsletter is now available to read online. 

Welcome to the Trustee’s annual update to members of the Rolls-Royce Retirement Savings Trust, which provides a summary of the Trust’s formal Annual Report and Financial Statements. 

The RRRST Trustee Board hopes you find the newsletter informative and interesting. 

RRRST new joiner guide

Rolls-Royce Retirement Savings Trust

New joiner guide

RRRST Trustee privacy policy

The Trustee privacy policy is now available to read online. 

 

 

Investments

The money you have invested into your pension doesn't just sit there waiting for you to retire. Aviva pools your money with that of other investors and invests it with the aim of growing the size of your pension. Pooled funds are a way of putting sums of money from many people into a large fund spread across many investments. Funds are managed by investment professionals. Investing this way can be easier and less risky than buying shares directly and there are lots of funds to choose from. Please bear in mind that the value of your pension savings can go down as well as up and it may be worth less than the amount paid in.

When you become a member

Contributions will be invested automatically in our default investment programme. This uses Target Date Funds (TDF) to invest your money, targeting drawdown in retirement. More details about this programme can be found in the Member Guide.

If you have any doubts regarding your investments, you should contact a financial adviser for advice. If you don't have a financial adviser you can find one at MoneyHelper*. You may be charged for this advice.

 

After you become a member

Once you have made your first contribution into your pension you can select different investment funds.

When choosing funds, you need to consider a number of factors, including what level of investment risk you are prepared to take, the income you are likely to need in retirement, the charges applicable and the age you want to retire.

The level of annual management charge (AMC) will depend on which fund or funds you are invested in. It is taken from each fund over the lifetime of your pension.

Remember, a pension is a long-term investment and usually the longer you save for, the better. For more information, please refer to the member guide.

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Tools

To help you with your retirement planning, we provide a range of planning tools so you can think about the kind of income that your pension savings could provide for you. You can look at the amount of pension savings you might have when you reach retirement and what impact making changes to your pension contributions could have.

You can also use the tools and guides available in the documents page.

Shape my Future

Can help give you an idea whether your potential retirement income will fund the lifestyle you want.

Retirement Spending Calculator

Discover how much you might spend during your retirement compared to your current spending and what sort of income you'd need to cover your costs.

Retirement Livings Standards

Watch this short video on Retirement Living standards.

Contact us

Got a question? We are here to help

Contact Aviva

For any questions about your MyAviva account or for help with logging in, please contact the Aviva team 

Phone: 0345 604 0803

Email: Rolls-Royce.mymoney@aviva.com 

Contact Rolls-Royce

For any questions about the RRRST contribution levels and/or the benefit structure, please use the Employee Hub for further information if you are a current active member. If you are not a current employee of Rolls-Royce, please contact Aviva using the relevant details in the tile opposite.

 

Guidance and Advice

This site does not provide financial advice.

MoneyHelper

For tailored advice you should speak to your financial adviser.  If you don’t have an adviser MoneyHelper provides up-to-date resources to help you find regulated advisers. Advisers may charge for their advice, but there are usually a number of ways to pay.