What are the Key Benefits of PACE?
The Key Benefits of PACE are:
- PACE is a Career Average Revalued Earnings (CARE) Scheme. (For further details about CARE, please refer to section on the left headed 'What is a CARE scheme?')
- PACE provides a pension based on 1/60th of your pensionable earnings for every year that you are a Member.
- PACE is contracted out of the State Second Pension Scheme (S2P) so Members pay reduced National Insurance contributions.
- PACE provides protection for your family and/or dependents when you die.
- PACE provides protection if you have to retire due to ill health.
- Your Employer will pay the balance of the cost of providing benefits after allowing for Members' contributions.
