Pensions

Pensions

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.

Defined Benefit Pension Scheme - for employees who started before 1st April 2016

For employees who started before 1st April 2016, GRL offers a generous Defined Benefit Pension Scheme, with both non-contributory and contributory options.

The Trustees Report and Scheme Accounts for 2018 can be found below:

A privacy notice from the Trustees of the GRL Defined Benefit Pension Scheme in accordance with the new General Data Protection Regulations from 25th May 2018 is available below.

Genome Research Limited Pension Plan (the “Plan”) Privacy notice

The Trustees of the Plan are committed to protecting the privacy and security of your personal information in accordance with data protection law. We will collect, store, and use a range of personal information about you as a member of the Plan through the joining process, during your time working at GRL or through direct contact as a deferred member or as a pensioner or beneficiary in order to run the Plan and calculate and pay benefits to or in respect of all members.

We will only use your personal information as required to calculate and pay your benefits under the Plan, where we need to comply with a legal obligation or where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests.

It is important that you read this notice, together with any other privacy notice we may provide on specific occasions when we are collecting or processing personal information about you, so that you are aware of how and why we are using your information.