Information about some of the pension schemes for past and present RSC employees.
New employees - PENSION AUTOMATIC ENROLMENT
To help people save more for their retirement, the government now requires employers to enrol their workers into a qualifying workplace pension scheme. This applies to all workers who are not already a member of a qualifying workplace pension and who:
- earn over £10,000 a year £833 a month, £192 per week
- are aged 22 or over
- work or usually work in the UK
- are under State Pension age.
If you're eligible: as well as your own contribution going into your pension fund, we will make a contribution, based on your pensionable salary, and your contributions will also receive tax relief. You can also join the workplace pension scheme with NOW Pensions before the deferral date if you want to.
Note: The current standard rates at Auto Enrolment are 3.6% employee and 5.4% employer making a total of 9%. We also offer the opportunity (after 3 months) for all employees to move to a slightly enhanced overall contribution rate of 10% (4% employee and 6% employer).
If you're not eligible: if you don’t qualify for automatic enrolment as outlined above but are aged between 16-74 and working in the UK, you may be able to join the Scheme anyway. For more information on how to do this please contact the RSC Payroll team at DG-Payroll@rsc.org.uk
Royal Shakespeare Theatre Retirement Benefit Scheme
The Royal Shakespeare Theatre Pension Scheme
Scheme Registration No. 10127867
This information relates to the Royal Shakespeare Theatre Retirement Benefit scheme only (closed to new members in 2006).
This is a defined benefit scheme, set up to provide retirement benefits for RSC employees. It is governed by a definitive trust deed dated 20 April 1999.
In March 2003 the sponsoring employer advised the Trustees that until further notice it would decline to approve the admission of any new entrants to the scheme. Subsequently, and with effect from 30 June 2012, the Trustees approved the sponsoring employer's decision to close the scheme to further accrual of benefits for existing members.
Queries relating to members’ own benefits, should be made to:
Scheme Administrator
XPS Administration
1 Colmore Row
Birmingham
B3 2BJ
0121 752 6610 or rscadmin@xpsgroup.co.uk.
Requests for additional information about the scheme generally should be made to the Scheme Secretary:
Joanne Barber
Royal Shakespeare Theatre
Waterside
Stratford upon Avon
Warwickshire
CV37 6BB
joanne.barber@rsc.org.uk
Pension scams
At this current time, the danger from pension scammers is high and we encourage you to think carefully before making any decisions about your pension based on recent events. Please seek independent financial advice and seek out the FCA’s guidance before proceeding with any transfer that you are not sure about.
Pension scams can be hard to spot but their effects are devastating, with many people losing their life savings. While promising high returns and low risk, in reality, pension scams can leave you with nothing. In addition, you could then face a high tax bill from HM Revenue and Customs if you withdraw your savings before age 55.
Scams often involve unusual, high-risk investments like overseas property, renewable energy bonds, forestry, parking or storage units. If it sounds too good to be true, it probably is. Anyone can be a victim of a pension scam, no matter how savvy you think you are. For more information about pension scams and how to avoid them, please see fca.org.uk/scamsmart.
