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Document How much will ERRBO cost me?

How much an ERRBO agreement will cost depends on your age in complete years at the day before the effective date of the agreement and the number of years’ reduction the agreement is for.

A table which shows your the rate of extra percentage contributions payable each year in addition to your normal tiered contributions is available on the ERRBO factsheet.

The cost is subject to review based on advice from the Scheme Actuary, and following review the cost of future instalments of an existing arrangement could be changed.

If the cost of future instalments increases as a result of a review you will have the option to end your agreement. You do not lose everything but simply the pension built up during the payment period of the ERRBO agreement attracts the reduced retirement age.

For further information, please see the ERRBO factsheet on our website.
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