BOC Pension Services | The Gist Limited Pension Scheme

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Welcome

Please note that this site is in the process of being finalised.

This website is intended to provide you with easy to understand and helpful information about the Gist Limited Pension Scheme.

Your Gist SchemeThe Gist Limited Pension Scheme. pension will provide you with a future income and is a valuable benefit. In addition the Gist Scheme gives you added financial security in the event of your illness or death.

The information on this website tells you about the wide range of benefits that the Gist Scheme can provide for you and your family. There are also tools to help you calculate how much you might need to live comfortably in retirement and how much you may need to contribute to reach that target. It is hoped that this will enable you to make important decisions about your future.

This website also explains how your benefits within the Gist Scheme combine with those you have built up to 31 March 2011 in the BOC Pension Scheme.

To explore the different areas of the site, you need to use the menu. On choosing to visit a section of the site, a list of the pages available will appear.

You can find out more by starting on the How the Gist Scheme works page.

The main features of the Gist Scheme

• Future income - the Gist Scheme provides you with a pension at retirement.
• Tax-free cash - currently you can exchange part of your pension for a tax-free cash sum at retirement.
• Tax and National Insurance savings - you do not pay income tax on your contributions (within the Annual AllowanceThe maximum amount of pension savings that you can generally build up in any one tax year without incurring a tax charge. The Annual Allowance for the 2011/12 tax year is £50,000.) and you pay lower National Insurance contributions.
• Company contribution - the CompanyGist Limited. meets the balance of the cost of providing your benefits.
• Excellent range of benefits - covering IncapacityA physical or mental illness or disability which in the Trustee's opinion (after considering evidence from a registered medical practitioner):
  - is serious enough to prevent you from following any employment; and
  - is considered permanent because you are unlikely to recover to any substantial degree., Ill healthA physical or mental illness or disability which in the Trustee's opinion (after considering evidence from a registered medical practitioner) is serious enough to prevent you from carrying out your normal occupation., or death (including a pension for your Recognised DependantYour spouse or registered civil partner (if normally resident with you) at your date of death. If there is no such person, an adult who is financially interdependent with you for basic living needs and who has normally been resident with you for at least two years immediately prior to your date of death. An adult qualifying for a Child's Allowance would not be eligible for a Recognised Dependant's pension as well. The Trustee also has discretion to provide a pension to other dependants if you do not have a Recognised Dependant.).
• Pension ‘top up’ - you can boost your pension by making Additional Voluntary Contributions (AVCs)Extra payments you can choose to make (or have made through Salary Exchange on your behalf) on top of your regular contributions in order to receive additional benefits on retirement. in AVC section. In Salary ExchangeA cost-efficient arrangement that allows you to pay reduced National Insurance contributions and, as a result, increase your take-home pay (assuming you pay UK tax and National Insurance contributions).
  
  In Salary Exchange, the Company makes contributions to the Gist Scheme on your behalf, instead of you contributing directly to the Gist Scheme. In return, you agree to accept a salary that is reduced by the amount the Company pays on your behalf. As your salary is reduced, you pay less in National Insurance contributions, resulting in higher take-home pay.
  
  This does not affect the amount of money paid into the Gist Scheme or the benefits you receive., the Company pays an additional 5% of any AVCs into your AVC fund.
• Early retirement - it’s possible (with TrusteeResponsible for looking after the assets of the Gist Limited Pension Scheme on behalf of the beneficiaries. Some of the Trustee Directors are appointed by the Company and some are member nominated. and Company consent) to retire from the age of 55.
• Help - there is a dedicated BOC Pension ServicesYou can contact us by writing to:
  BOC Pension Services
  The Priestley Centre
  10 Priestley Road
  The Surrey Research Park
  Guildford
  Surrey
  GU2 7XY
  On the Helpline:
  0800 096 3214
  (BOCTEL 750 4745)
  Or by email: pensions.uk@boc.com administration team ready to help.
• Updates – you will receive regular communications to keep you informed.

For more information about how the Gist Scheme works download Your guide to the Gist Scheme or contact BOC Pension Services for a copy.