KNOWLEDGE CENTRE

What can I expect?

You will receive further information about Automatic Enrolment from your employer and Zurich, the KPS-MP administrators once you have become eligible to be Automatically Enrolled. It is important that you read and understand the information provided and actions required. To help you we have summarised below what you can expect.

You:

  • will pay a Member Contribution of 1% of your Basic Pay. Your employer will pay a Company Contribution of 2% of your Basic Pay
  • will have a KPS-MP Retirement Account in your own name, which will be invested in the KPS-MP default fund, Lifestyle 10 year
  • be able to view your Retirement Account online
  • be covered for a Death in Service Life Assurance Benefit of 4x Salary

You may:

  • wish to increase your Member Contributions and take advantage of the higher matching Company Contributions. See Contributions section of our website for more details
  • wish to change the way in which your Retirement Account is invested. See how can change your investments by clicking here.

Once you have been automatically enrolled, you may opt-out.

Opt-out instructions will be provided by Zurich upon your automatic enrolment.

Please note

  • if you opt out but continue to meet the eligibility criteria you will be automatically re-enrolled roughly every three years
  • you may opt back into the KPS-MP at any time by completing and returning a Joining Form

If you are not a member of the KPS-MP, you will already been written to explaining what Automatic Enrolment means and providing. However you can read the the booklet “Automatic Enrolment: Everything You Need to Know” again if you wish to.

If you are already a member of the KPS-MP, no action is required. You should note however the amended definition of Basic Pay for pensions purposes. Should you require confirmation as to whether your specific allowances are now included, please contact your payroll department.

If you are eligible for Automatic Enrolment and you have automatically enrolled, Zurich will send you a Welcome Pack confirming that you have been enrolled into the KPS-MP. The Welcome Pack will include the KPS-MP Member Guide and log in details to view your Retirement Account online, and confirm your options at this stage. Your password will be sent separately.

If you do not receive a Welcome Pack from Zurich, but answer yes to all of the following questions, you should contact your employer to check whether you have been automatically enrolled.

  • Are you aged 22 or over?
  • Are you under State Pension Age?
  • Do you work (or usually work) in Great Britain or Northern Ireland?
  • Do you earn at least £10,000 per year (which is £833 per month) – either through full-time or part-time work?