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Your Pension

How your pension is worked out

The pension built up in the Scheme is worked out as a proportion of your earnings while you were an active member of the Scheme. 

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At a glance:

The exact way in which your pension is calculated differs slightly depending on the section of the Scheme that you belong to. This will depend on which of the following schemes you were a member of before they merged in 2013:

  • Raytheon Corporate Jets Pension Scheme
  • Raytheon Superannuation Fund
  • Raytheon Final Salary Pension Scheme

When the Scheme closed to active members on 31 August 2023, you would have been sent a ‘closing statement’ detailing the benefits you’d earned up to the date you stopped building up benefits.

You can also find out what you have built up in the Scheme if you log in to the My pension portal.

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What happens now that you’re a deferred member?

Tax and pensions

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Your options

The type of pension you have