Benefits overview

More than just a pension.

There are a number of benefits available to you as a member of FuturePlanner, as you progress through your career with Leonardo in the UK.

As a member of FuturePlanner, you will build up a pot of money during your employment that is made up of both employee and employer contributions. These contributions will be invested automatically in the default investment funds or you can choose your own from our Self Select funds. The goal is to increase the value of your Retirement Account over time.

If you fall ill while you are a member of FuturePlanner, before your State Pension Age, there is income-protection insurance provided by the Company if you are away from work. Initially, Company sick pay may be available, but if your incapacity is for an extended period, there is cover of half your salary for up to two years followed by a lump-sum payment if you remain ill. The value of your Retirement Account may also be payable.  For more information please see the "What happens if you become ill" pages here.

In the event of your death while a member of FuturePlanner, before age 75, there is death-in-service cover to protect your family; this amounts to four times your basic salary and is currently tax free within certain limits. The value of your Retirement Account will also be payable to your beneficiaries.

When you reach retirement, the money in your Retirement Account is used to provide an income. This can be done in a number of ways. You can keep the money invested into your retirement (with the movements, positive or negative, of the investments you have selected) and draw an income from it (known as drawdown). Alternatively, you can have a guaranteed income by purchasing a pension (this is called an annuity). You will also have the option to take up to 25%* of your Retirement Account as tax-free cash.

*Subject to a maximum of £268,275 unless you have a form of Lifetime Allowance protection

If you leave FuturePlanner before you retire, you can take the value of your Retirement Account with you to a new employer's plan or another registered pension arrangement. Alternatively, the Trustees will set up an individual ‘Smart Pension Master Trust’ for you so that you have a direct relationship with Smart Pension.