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.
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