If you joined the former Npower Group or are treated as having joined it, during the following periods, you are a member of the Npower 2005 Section of the E.On UK Group of the ESPS:

• On or after 1 January 2005 and;
• before 1 October 2009

In the 2005 Section, you have the choice of two contribution levels — basic and enhanced. Being in the Enhanced part of the 2005 Section means you put more of your salary towards your pension as shown below.

You can also switch between the basic level and the enhanced level once a year on 1 April. If you want to switch levels, you'll need to complete a switching form available from Railpen.

Main benefits

• a pension linked to your Pensionable Service and Pensionable Salary
• Life assurance (while you're employed by the Company) if you die before retirement
• A pension subject to annual increases
• Benefits for your dependants whether you die before or after retirement
• A disability income if you are forced to retire early due to ill-health
• The option to pay additional contributions to secure improved benefits at retirement

If you wish to bring other benefits into the 2005 Section, you'll need to fill in a transfer-in enquiry form.

Retirement options

• Normal retirement is when you retire at the normal pension age that is set. The normal pension age at which retirement benefits will be payable is 63.
• If you retire at your normal pension age, you’ll receive a pension based on your Pensionable Salary and Pensionable Service.
• Your Pensionable Salary at retirement is your average annual amount of basic salary over the 36 consecutive months ending on the last 31 March before you leave Pensionable Service, whether you retire or die, whichever occurs first.
• Remember that your benefits could be limited to the LTA (Lifetime Allowance).
• >It’s possible at retirement for you to give up part of your pension in exchange for a cash sum.
• The amount of cash you receive in exchange for each £1 of annual pension given up will depend on your age at retirement.
• You may also be able to give up part of your pension to increase the widow(er)’s, or another dependant’s, pension when you die.