Want a current annual pension valuation?
The current value of your pension has to be calculated, subject to Scheme rules. This takes a bit of time so you won't get the value instantly. Take a look at the difference between the Tesco Pension Scheme (a Defined Benefit (DB) scheme) and the Tesco Retirement Savings Plan (a Defined Contribution (DC) plan) below.
If you're a member of the Tesco Retirement Savings Plan you can find out how much your savings are currently worth here.
The difference between Tesco's
Pension Scheme and Retirement Savings Plan.
The Tesco Pension Scheme (closed), is a Defined Benefit (DB) pension scheme.
- The Tesco Pension Scheme (closed) is one that you, Tesco and all other members paid into.
- It's managed by the Trustee and guarantees a defined payout to all the Scheme members.
- Your pension value has to be calculated, subject to Scheme rules, and when or how you want to take your pension. This takes a bit of time so you won't get the value instantly.
The Tesco Retirement Savings Plan, is a Defined Contribution (DC) plan.
- The Tesco Retirement Savings Plan is your own savings account - you pay in and Tesco pays in.
- You can log in, any time you like, to instantly see what's in your savings account.