Defined Contribution Pension Scheme - for employees who started after 1st April 2016
GRL offers its employees a generous Defined Contribution Pension Scheme, sometimes known as a Money Purchase scheme. The key elements of the scheme are:
- Employee contribution of 3%
- Employer contribution of 5%
- Additional 10% employer contribution. This can be taken as either a further employer contribution, a cash supplement or a combination of both.
The Scheme is overseen by a Governance Committee that meets annually to review its performance.