How does it work?

As the Scheme is closed to future accrual, there are no longer any active members paying contributions.

If you have benefits in the Scheme, you are either a ‘pensioner’ member (receiving a pension from the Scheme), an ‘employed deferred’ member (yet to take your benefits but still working for Leonardo) or a ‘deferred’ member (yet to take your benefits and no longer working for Leonardo). Your deferred benefits will remain in the Scheme until you leave Leonardo and are ready to retire, unless you choose to transfer them out.

When you leave Leonardo and retire, you will receive a pension from the Scheme based on your pensionable salary and length of service, as set out in the Scheme Rules.

You can find more details of the benefits the Scheme provides to deferred members in the Scheme Booklet.