Pensions
Defined Contribution Pension Scheme - for employees who started after 1st April 2016
Genome Research Limited (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.
Please find below the Implementation Statement (known as EPIS) for 2023 for the Genome Research Defined Benefit Pension Plan.
Defined Benefit Pension Scheme (now closed to future accrual) - for employees who started before 1st April 2016
For employees who started before 1st April 2016, GRL provided a Defined Benefit Pension Scheme, with both non-contributory and contributory options, which is now closed to future accrual.
The Trustees Report and Scheme Accounts for 2022 can be found below:
Trustees Report and Scheme Accounts for 2022
Please find below the Statement of Investment Principles for the Genome Research Limited Pension Plan, updated in December 2023:
Privacy Notice
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.