The Scheme Facts

About the Scheme

  • The Thales UK Pension Savings Plan is a Group Personal Pension provided by Legal & General.
  • At a minimum, new joiners are auto-enrolled to contribute 5% of Qualifying Earnings (earnings between Lower Earnings Limit and Upper Earnings Limit) and Thales will contribute 3%.
  • However, if you opt in and choose to personalise your contributions, Thales will contribute up to 7% of pensionable pay (Basic Salary plus VCP)
  • By default, your contributions are deducted via Salary sacrifice.
  • The scheme annual management charge is 0.12% plus an additional fund charge of 0.13% for those invested in the scheme's default fund - Legal & General (PMC) Multi-Asset Fund.
  • You can review and change your contribution level and how you pay your contributionons on your benefits portal, Simply Flexible.

The scheme profile as at 30th June 2021

96%

Percentage of eligible employees are members of the pension scheme

64%

Members are contributing above the auto-enrolment minimum contribution levels of 5% employee

8%

Total average member contribution paid into the scheme

£279,685,240

Total funds under management as at 31/03/2021

£47,453

The average fund value across the scheme