This means that your pension from the Scheme depends on how long you paid contributions into it and what your Final Pensionable Pay was when you retired from it (or when you became a deferred pensioner). Your Final Pensionable Pay is the highest successive 12 months Pensionable Pay in the 10 years before you retire, or leave.

For most members, the amount of pension is worked out like this:

1/60 x Final Pensionable Pay x years & months of membership

However, special rules apply to certain members of the Scheme who belonged to earlier pension arrangements. See below.

Once your pension is in payment, it is guaranteed for five years. This means that if you die in the first five years of getting a pension from the Scheme, your beneficiaries will receive a lump sum payment equal to the remainder of the pension payments due to you in that five-year period.

Benefits are also payable to your spouse/civil partner and eligible children, on your death in retirement.

Benefits that differ

Category A Members

Before the 1st May 1990 the Scheme was split into 3 categories and pension benefits were worked out depending on your category of membership. Category ‘A’ members were men with the contractual retirement age of 65. Pension benefits for category ‘A’ members are worked out as follows: 

1/65 x Final Pensionable Pay x Years and months of membership

Benefits built up after the 1st May 1990, or when you stopped being a category ‘A’ member, if earlier, will be worked out using the calculation shown at the top of this page.

When you retire your total pension will be worked out by adding these two benefits together. Your yearly benefit statement shows the total of these two benefits.

Ex Timothy White and Taylor’s Members

If you were a member of the Timothy White and Taylors pension scheme your benefits were transferred into the Boots Pension Scheme in 1969. The pension benefits you received for this transfer value are worked out using the following calculation:

1/80 x Final Pensionable Pay x Years and months credit given by the transfer

The pension benefits that you built up since joining the Boots Pension Scheme will be worked out using the calculation shown at the top of this page.

When you retire your total pension will be worked out by adding these benefits together. Your yearly benefit statement shows the total of these benefits.
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