Pension Scheme (Part II)
The Pension Scheme (Part II) is a defined contribution pension fund. The Fund has a set of Special Rules that determines the benefits of the Fund. You contribute a minimum of 5,0% of Pensionable Salary to the Scheme and the employer pays a minimum of 4,0% plus the cost of insured death and disability benefits and administration costs. Normal retirement can be between age 60-65. The School decides the normal retirement age.