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Retirement Savings Plan

The Retirement Savings Plan started on 1 October 2021.

You may be saving into the Retirement Savings Plan from your Benefits Envelope or you may have been automatically enrolled into the Retirement Savings Plan.

You can use your Benefits Envelope to save into the Retirement Savings Plan. And you can make extra voluntary contributions (EVCs) from your pay. Log in to PlanViewer to check how much pension you’ve built up in the Retirement Savings Plan.

The Retirement Savings Plan gives you a pot of money that’s invested to help it grow over time. When you retire, you use this money to give yourself an income.

How your pot builds up

The amount of money you build up depends on:

How much you save from your Benefits Envelope and from your pay
How your investments perform
How long your money is invested for

Because your money's invested, the value of your pension pot can go up or down from day to day, depending on how your investments are doing. This is normal. The aim is that by the time you come to use your money, the value of your pot will be bigger than if you hadn't invested it.

You can choose how to invest your money, or you can choose an automatic switching strategy known as the ‘default’. If you don’t make an investment decision your pot will be invested in the default. This option moves your money into lower risk investments when you get closer to retirement. The Trustees and their investment advisers believe that this option works best for most members.

Your investment choices View your retirement options

What you and Unilever pay

You can save into the Retirement Savings Plan from your Benefits Envelope. So Unilever pays these contributions.

The smallest amount you can save is 11% of your pensionable earnings (your basic pay and, for some people, other allowances). If you want to save more, you can make extra voluntary contributions from your pay.

The most you can save is 25% of your pensionable earnings.

If you do not use all of your Benefits Envelope to save into the Retirement Savings Plan you’ll get what’s left over as extra taxable pay.

Stop saving for pension (opting out)

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The aim of this website is to outline the benefits available from the Fund. It does not go into as much detail as the legal document governing the Unilever UK Pension Fund – its 'trust deed and rules'. If there are any differences between the trust deed and rules from time to time in force and this website, the trust deed and rules will apply. Some members’ benefits and options may be subject to certain special arrangements, which are not described on this website. Please check with the Unilever Pensions Team if any special arrangements apply to you.

Unilever UK Pension Fund Trustees Limited is the Trustee of the Fund. Throughout this website, ‘Trustees’ means the Directors of Unilever UK Pension Fund Trustees Limited.

This website does not give any rights to particular levels of contributions or benefits. Unilever reserves the right to end your employer’s participation in any section of the Fund and, with the Trustees’ agreement, to make changes to the Fund.

Anything in this site about legal or tax issues is based on the Trustees’ understanding of these issues at the current date and is a high-level guide only. Legal and tax issues may change from time to time. The Trustees cannot give tax advice in relation to the application of tax rules or legislation and it is each member’s responsibility to take advice on their own tax position.