• Contribution options

Contribution options

How much will you pay?

Deutsche Bank pays into the DB Flexible Retirement Plan. You don't need to contribute but you should think about whether this will get you the lifestyle you want when you stop working.

The amount that Deutsche Bank will contribute depends on your age and is calculated as a percentage of your basic salary (subject to a Company earnings cap) as follows:

Your age* Company contribution
25-29 7.5%
30-34 10%
35-39 12.5%
40-44 17.5%
45-49 20%
50-54 22.5%
55+ 25%

The core Company contribution will not be less than 8% of an employee’s Qualifying Earnings in any pay period in order to provide at least the minimum level of contributions required under the Auto-enrolment legislation during the 2019/20 tax year.

10% Flat Rate Contribution structure

If you are under the age of 30, you can elect to move to a 10% (of your basic salary limited to the Company Earnings Cap) flat rate contribution. The new contribution rate will normally take effect from your next contribution but you should be aware that this decision is irreversible and it will not be possible to revert back to the age related structure at a later date. Prior to making any decision to change to the 10% flat rate contribution rate, please familiarise yourself with the resources available on Deutsche Bank’s HR Connect website to help you make an informed decision, and if appropriate take financial advice from a suitably qualified IFA.

Deutsche Bank reserves the right to vary the level of its contributions paid to the DB Flexible Retirement Plan or the Group SIPP, where any contributions are to be made by Deutsche Bank, and to vary or discontinue the DB Flexible Retirement Plan or the Group SIPP.

The government has set a minimum amount that usually needs to be paid. The amount the Company pays for members meets these minimums and usually exceeds them. To find out what the Government minimums are, visit the gov.uk website.

*If you are under 25 you will be eligible to join the DB Personal Pension Plan

Your contribution options

The DB Flexible Retirement Plan booklet provides further detailed information on contributions.

You can contribute each month through myFlex and can usually pay as much as you like up to the Government payment limits.

You can also contribute outside of myFlex, see the booklet for more information.

'Flex Down' option

You will have the option to give up part (or in some cases all) of your pension contributions from Deutsche Bank in exchange for cash, subject to maximum limits as per your corporate title and elected core contribution structure. Please visit HR Connect for further information. Standard Life is not responsible for the content on this website.

 

What will I get back?

"Are you going to have enough in your pension to give you the retirement you'd like?"

Change your contributions

Keep up to date with your contributions and find out how you can change the amount that you're paying.

 Remember

Your pension is normally a long term investment and you usually can't withdraw money until age 55 (may be subject to change). As with any investment, the value can go down as well as up and may be worth less than was paid in.

Please make sure you read the Legal information and Deutsche Bank Legal notice.

Important documents

To help you make an informed decision we've provided you with important information that you should read. You should print or save copies of these documents for future reference.

This form is used to request for the scheme to pay the Annual Allowance Charge.

Annual Allowance Charge form (PDF, 100KB)

This document explains the features of the pension product your employer has chosen.

Plan summary document (PDF, 70KB)

This document explains the features of the pension product your employer has chosen.

Key features document (PDF, 288KB)

This document provides you with more information on how you can take money from your pension flexibly. For more information on the other options available please see the key features document above.

How Drawdown Works PDF, 211KB

Read this guide for more information on choosing your investment options if you decide to take money from your pension flexibly.

Choosing investment options for a flexible income PDF, 119KB

This document gives you an illustration of what your pension could be worth.

Key features illustration (PDF, 165KB)

This document gives you an illustration of what your one-off payment could be worth when you retire. Read this if you are thinking about participating in the DB FRP Bonus Waiver offer.

DB FRP Key features illustration - Single Transfer (PDF, 191KB)

Read this guide for more information on your investment options, including details about charges and fund codes.

How to choose the right investment options for your pension (PDF, 896KB)

Read this guide for more information about how the DB Flexible Retirement Plan works.

DB Flexible Retirement Plan Handbook (PDF, 541KB)

Read this guide for more information on the different ways you can pay into your pension, and the tax benefits and tax charges which can apply.

Information about tax relief, limits and your pension (PDF, 99KB)

Use this form to nominate any death benefits under the DB Flexible Retirement Plan.

Instruction for payment of death benefits (PDF, 77KB)

Use this form if you'd like to switch from the DB FRP into a Group Self-Invested Personal Pension Plan (GSIPP). More about GSIPP.

Switch form (PDF, 92KB)

Use this form to nominate any death benefits under the DB Group SIPP.

GSIPP - instruction for payment of death benefits (PDF, 77KB)

Get the lifestyle you want

"How much should you pay to get the retirement you want?"

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