Locala pension

The Locala pension is provided by Royal London, the UK's largest mutual life, pensions and investment company.

The default contribution is 3% and Locala will match your contribution + 2% up to a maximum of 8%. You can change your pension contribution rate to any amount that suits you.

All pension contributions have 20% tax relief. As a member of the Locala Pension, Royal London will claim 20% tax relief on your behalf and apply it to your pension fund. If you are a higher tax rate payer, you need to complete a self-assessment tax return to HMRC, so the additional tax deducted can be applied to your pension fund.

Royal London is a Group Personal Pension Plan, which gives you your own pension pot. Pension contributions are invested in the default investment fund - Balanced Lifestyle Tracker, which uses your age to determine the level of risk your funds are exposed to. The default retirement age is 65.

About Royal London

As a mutual, they are owned by the members so customers are at the heart of the business, looking after their best interests, it’s what they are all about.

What's so great about mutuality?

They don't have shareholders which means no dividends to pay, instead, profits are used to provide better products and services.

It also means there are no demands to make snap decisions when markets get tough. So you can be sure absolutely everything they do is for the long-term benefit of the customers, the members, and ultimately, the business.

They are committed to meeting your needs and will take the time to understand what really matters to you. The clear and simple communications help you understand what's happening with your pension and the helpful, friendly servicing teams will answer any questions you have about your pension.