Flexible Pension Scheme - Arval

Flexible Pension Scheme
All permanent and fixed term employees of Arval are eligible to join the Arval Flexible Pension Scheme, an occupational
defined contribution pension scheme.
Key Points for the Choices enrolment
• If you are a member of the Arval flexible pension scheme you can change your level of pension contribution for 2007.
• If you are not a member of the pension scheme you can indicate that you would like to join the scheme and the
amount you wish to contribute.
• The minimum pension contribution you can make is 2% of your basic pensionable salary.
• The company’s percentage pension contribution is determined by the percentage that you choose to pay, and is also
based on your pensionable salary.
• If you are a member of the closed final salary pension scheme you cannot vary your normal pension contributions.
However, you can make Additional Voluntary Contributions.
Scheme Information
You can find information about the Arval Flexible Pension scheme on the Choices site in the TRS and the Choices
enrolment sections. You can also request more information by contacting HR services via the @skHR email address.
Varying your basic contributions
If you are an Arval Flexible Pension Scheme Member you will have been asked to choose the level of your pension
contribution when you joined, or at a previous review. The amount that you currently contribute will be shown in the
Choices enrolment form. You can vary that contribution if you wish by clicking on the pension ‘change’ button. This will
take you to the contribution variation form.
You can then choose the amount of contribution that you pay to the scheme, subject to a minimum of 2% of
pensionable earnings. Pensionable earnings is your base pay, excluding any bonus or incentives or other payments. The
Company’s contribution on your behalf is also based on your pensionable earnings, the exact percentage being
determined, as follows, by the amount you pay:
Your normal contribution (%)* Company Contribution (%)*
2.0 5.0
2.5 5.5
3.0 6.0
3.5 6.5
4.0 7.0
4.5 7.5
*Please note that normally your contributions may only be increased or decreased during the annual Choices flexible
benefits enrolment in November each year.
4-November 06

AVC’s
If you wish you can pay additional voluntary contributions (commonly known as AVC’s) to the pension scheme you should
contact @skHR. These would be on top of your normal contributions as described above. AVC’s are not matched by the
Company.
Investment Options
You will not be able to change how your scheme is invested via the Choices website. However, should you wish to change
how your pension is invested you should contact HR via the @skHR email.
Joining the scheme
If you are not already a member of the pension scheme and you wish to join, you can indicate that you want to join on
the Choices enrolment form by indicating how much you want to contribute. You will then be issued a New Entrant
Form by HR. This form will ask you to confirm your contributions and to indicate how you wish your pension
contributions to be invested. If you have been employed by Arval and did not join the scheme at your first opportunity
you may also be required to complete a medical questionnaire.
Arval Employee Benefits Plan
The Arval Employee Benefits Plan was closed to new members with effect from 1st November 1997.
The Arval Employee Benefits Plan is a “Defined Benefit” of “Final Salary” pension scheme providing members with a
pension on retirement at your normal retirement age amounting to 1/60th of your final pensionable pay, less 2.5% of the
value of the Basic State Pension (as set by the Government) for each year of pensionable service.
If you require further information about the Plan or about your entitlement to benefits, contact the Human
Resources Department via the @skHR email address.