The Combined Nuclear Pension Plan

How much must I pay?

You must pay contributions of 5% of your pensionable earnings.

Of this, 1.5% of pensionable earnings relates to the cost of providing benefits for your dependants after your death.

You may wish to purchase extra years of service or additional entitlements by paying additional contributions.

How much will your employer pay?

Your employer will make contributions at a level agreed with the Trustee. This is expected to provide enough funds to pay the promised level of benefits, having taken advice from the CNPP's actuary and in accordance with any relevant legislation.

What earnings are pensionable?

As a general rule, only permanent items of pay and responsibility allowances are pensionable. If any other items of your pay were pensionable in the CPS they will also be pensionable in the CNPP. The NDA may, from time to time, determine that other items of your pay will be pensionable such as overtime or bonus payments; you will be notified if any such determinations affect you.

The Shift Pay Pension Plan in the CPS which had been used to provide pension benefits for Shift pay will also be replicated in the CNPP.

If your salary reduces, you have the option of being treated as if you have two distinct periods of service, if this results in a larger ultimate pension.

If you are on reduced pay during maternity leave (and in certain other circumstances), your employer will make contributions based on the pay that you would have expected to have had if you had not been off work. In most cases, you will make your contributions based on your reduced pay.

Unless you have continuous service in the CPS and the CNPP which commenced prior to 1 June 1989, your pensionable earnings will be subject to a maximum, or the earnings cap. In the 2009/10 tax year this earnings cap is £123,600. In subsequent years, the earnings cap will increase with the increase in the Retail Prices Index (RPI) and be calculated in accordance with the CNPP rules.