You and usually your employer pay contributions into the Cheviot pension each month. How much you both pay will depend on the individual arrangements with your employer but will probably be at least the minimum contributions required by the Government for auto-enrolment.

The contributions required from you and your employer for auto-enrolment can be calculated in different ways. The minimum total contribution is 8% on your total earnings between £6,240 and £50,270. Many employers pay contributions calculated on your basic salary. Ask your employer about your pension contributions or check your latest benefit statement on our secure online system to see how much you are paying.

The Government helps with your pension contributions by giving you tax relief on your contributions through the payroll system. This means that some of the money from your pay that would have gone to the Government as tax goes towards your pension instead and makes saving for retirement more affordable.

If you don’t pay tax, you will not get tax relief on your pension contributions under the Cheviot pension arrangement and this means it might not be the best pension for you.

There are limits on the contributions you can pay; these are explained in the tax factsheet.


The way your contributions are invested is really important. You need your contributions to grow so that you have enough savings at retirement. Investment is all about taking some risk to get returns above inflation so that your savings grow in today’s terms.

If you are invested in the Cheviot Lifeplan, the Trustee takes investment decisions for you and aims to provide relatively stable growth. If you want to take your own investment decisions, you can choose from a range of available funds and make your own decision about how much risk to take. Further information about investments can be found in the factsheets below.

You could also read the Statement of Investment Principles which sets out how the Trustee invests the assets of the scheme and the Implementation Statement which explains how the Trustee engages with investment managers in relation to their interaction with companies they invest in and environmental, social and governance issues. 

If your contributions are invested in the With Profits Section, the growth on your fund is calculated differently. See the With Profits factsheet for more information.

Investment factsheet 1

This factsheet describes how you can choose the right investment journey for you, either by letting the Trustee manage your investments in the Cheviot Lifeplan or by making your own investment choices.


Investment factsheet 2 - Fund details

This factsheet provides details of the investment funds we offer. There are three different types of funds: the Cheviot funds, which are invested across a range of assets, equity funds, which invest in the stock market and specialist funds, which aim to meet certain religious, ethical or investment needs.


Retirement factsheet 1 - Your options

If you are approaching retirement, this factsheet shows how your savings will be managed in the Cheviot Lifeplan and some alternative strategies to meet different retirement plans.


Frequently Asked Questions

This factsheet answers some questions you may have about how your savings are invested.

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