Here is how it is laid out.
Pension contributions are flexible with the following combinations:
5% from you 7% from company giving 12%
4% from you 6% from company giving 10%
3% from you 5% from company giving 8%
You may increase your contribution with AVC's but the company will offer a max of 7%. I believe, but am not certain, that the tax threshold for AVC's is set at a combined 17%.
The more you pay the more the company pays upto 7%. However, FO starting pay, gross before flying benefits is approx £42000, the pensionable pay however has not been increased and starts at £32000. This is where it gets complicated as the pension is only calculated on 75% of your basic salaried, pensionable wage i.e 12% of £32000 not including flying benefits which are tax reduced due to not being pensionable income.
If I have made some glaring errors I'm sure that someone will point it out but, as far as I can figure it, thats how it works.
p.s. I'm on BARP as well :-(
Probably muddied the waters again!!
