Welcome to the Tata Steel UK Company pension

Find information about your pension and investing for your future.

Making the most of online saving with Aviva

We've set up a company pension scheme to help you invest for your retirement in a tax-efficient way. The scheme is run by Aviva, one of Europe's leading life and pension providers.

You will find useful information on this site including scheme information and access to tools to help you plan.

See what your retirement could look like with our Shape my Future tool. 

Get expert advice on your plans

to make sure you’re making the most of your money and on track to achieve your financial goals; it might be a good idea to speak to a financial adviser. A financial adviser can help:

  • Establish what your future income requirements might be
  • Work out how much money you can afford to save for retirement
  • Recommend the right investment funds for you
  • Review any other pension plans you might have and transfer them if it will benefit you
  • And if you're ready to retire, help you with plans to turn your retirement savings into an income

Aviva's financial advice support team can put you in touch with an Aviva financial adviser or refer you to one of our specialist partners. Call us on 0800 092 2585 or visit our website aviva.co.uk/advice.

Any recommendations made by an Aviva Financial Advice adviser will be for Aviva’s products and services only. If you prefer to find your own financial adviser, you could visit Unbiased.co.uk to find one.

When you reach your chosen retirement age, you can use the money you've invested in your pension to provide you with retirement benefits. And as far away as that might seem today, you should start thinking about it now. The sooner you start investing, the more options and financial freedom you're likely to have when you retire. Note that the value of an investment is not guaranteed and can go down as well as up. You could get back less than has been invested.

 

How your pension works

  1. You make payments into your pension plan, and your employer may also have to. You don’t pay any tax or national insurance on payments your employer makes, and you get tax relief on any payments you make yourself.  If your employer runs a salary exchange arrangement you’ll get even more in the form of National Insurance savings. Contributions paid under salary exchange arrangements (also called salary sacrifice) are paid by your employer, as they are a separate benefit of employment. They will not show up in your pension as coming from you.. Contact your employer for more information.
  2. This money is then invested in funds to give it a chance to grow. Just remember that, as with any investment, the value can go down as well as up, and it could be worth less than has been paid in. You can choose the funds or investment option for your pension at any time after the first payment is made.
  3. Aviva charges for managing your pension plan and the funds you invest in may have extra charges. These charges will reduce the value of your pension plan.
  4. Aviva sets up your pension plan so you can use the money you’ve built up to provide yourself with retirement benefits from your chosen retirement age, but you can take your benefits at any time from the age of 55 (57 from 6 April 2028 if you joined after 3 November 2021). There are various ways of doing this. So we’ll write to you well in advance to let you know what your options are.

For more details about how your pension works, read the ‘Key features’ and ‘Terms and conditions’ in 'Your company pension scheme - An essential guide for employees' on the documents page.

Just remember that, as with any investment, the value of your pension plan can go down as well as up, so it may be worth less than the amount paid in.  

Please note that tax rules may change, and your tax treatment will depend on your personal circumstances.

 

Already a member?

You can manage your pension savings online, with tools to help you plan for the future.

Joining information

New employees are only eligible to join the Tata Steel Personal Retirement Savings Plan (PRSP) provided they have completed and returned the joiners form within 2 months of their initial appointment to Tata Steel UK Ltd.

Please read the 'Your company pension scheme - An essential guide for employees' (PDF 417KB) document which provides details about your pension. Your investment guide will show you where your money will be invested. 

Contact us

Got a question? We are here to help

Contact Aviva

Phone: 0800 145 5744

Email: contactus@aviva.com

Contact your employer

Ask HR

askhrsscwest@tatasteeleurope.com

Contact your adviser

Aviva financial advice

0800 092 2585

Guidance and Advice

This site does not provide financial advice.

MoneyHelper

A good place to start is MoneyHelper, the government-backed free guidance service. The MoneyHelper service won't tell you what you should do, but they'll provide you with information to help you understand your options.

Contact an adviser

For financial advice please contact your financial adviser. You may be charged for this. MoneyHelper can help you find an adviser in your area.