nuvos is an occupational defined benefit pension scheme. It provides a way of saving for your retirement. Over the years, you and your employer both make contributions to the scheme. When you retire we pay you the pension you have built up each year while you have been in the scheme. nuvos provides:
- a pension linked to your pensionable earnings and increased each year in line with inflation;
- an option to take a tax free lump sum in exchange for part of your pension;
- special early retirement terms, subject to certain conditions, if you are forced to retire early because of ill health;
- a death benefit of twice your final pay if you die in service;
- a pension for your husband, wife, civil partner or partner after your death;
- a pension for your dependent children after your death;
- a number of options to increase your pension if you wish.
