If, as part of the disciplinary process, you are demoted to a role at a lower level, the same level of contributions to the Scheme will apply unless you tell us otherwise.
HBOS Contributions
If your job level changes as a result of your demotion, the level of contributions made by HBOS may also be lower:
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
If your new role does attract a lower level of contributions from HBOS, this will apply from the date that your new role becomes effective.
To see how a new job might affect contributions and your potential benefits at retirement, refer to the HBOS Pension Planner.
