If you change your job within HBOS, the contributions made to the Scheme will continue to be based on the same percentage of your salary - unless you ask us to change this.
If wish to change the contribution level, just contact $Group Pensions.
HBOS Contributions
Remember, the higher the contributions you make, the greater the contributions you’ll receive from HBOS.
The value of HBOS contributions also depends on your new job level:
Your New Job Level |
HBOS Will Contribute |
1 to 4 |
1½ times your own contribution level* |
5 to 6 |
2 times your own contribution level* |
7 to 8 |
2½ times your own contribution level* |
* up to a maximum of 8% of basic pay.
Any changes in HBOS contributions will take effect from the 1st of the month following your change of role.
To see how a new job might affect contributions and your potential benefits at retirement, check out the HBOS Pension Planner.
