BOC Pension Scheme (the Scheme)
You are currently a deferred member of the Scheme. You are a 'deferred member' if you're no longer working for BOC, or you've opted out of the Scheme.
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Summary Report and Accounts
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What is the Scheme?
The BOC Pension Scheme is a defined benefit (DB) pension arrangement through which you saved for your retirement. A DB pension arrangement is one where your pension is based on your salary, length of service, and a fraction known as an 'accrual rate'. You and the Company pay into your pension while you are an ‘active’ member. When you retire, you get a pension for life and you can also take a cash lump sum.
The Scheme will provide you with a pension and the option to take some tax-free cash from age 55. It also offers other benefits that give you and your dependants some financial security if you die or are too ill to work.
Please note, the Gist Limited Pension Scheme (GLPS) merged with the BOC Pension Scheme (BOCPS) in 2020. If you were a member of the GLPS and want to see the Scheme's history and documents, then please visit the GLPS page.