Benefits

Overview

The Yorkshire and Clydesdale Bank Pension Scheme is a defined benefit pension scheme. This means that when you retire, the Scheme pays you a monthly income for the rest of your life.

This website explains how your pension works.

If there’s a difference between the information on this website and the Scheme’s Trust Deed and Rules, it’s the Trust Deed and Rules that apply.

You can log in to check how much pension you’ll get.

And you can read the details of how pension builds up in the Scheme.

Members of the Scheme

There are 3 types of members in the Scheme:

  • Active members – who still build up benefits
  • Deferred members – who no longer build up benefits
  • Pensioners – who are taking their benefits.

The Scheme closed to new members on 31 December 2003.

And from 31 July 2017, most active members stopped building up benefits in the Scheme and became deferred members.

If you’re an active or deferred member, you can read about how your pension builds up and your retirement options.

If you’re a pensioner, you can read about how your pension is paid and increased.

The Scheme is managed by Yorkshire and Clydesdale Bank Pension Trustee Limited

A Board of Directors is responsible for running the Scheme and overseeing members’ benefits.

Each person who sits on the board is a Trustee Director.

The Trustee Directors include:

  • Professional trustees
  • Trustees nominated by members
  • Trustees nominated by the Bank

You can contact the Trustees through the Scheme’s administrator, Capita.

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