Planning ahead at any age
Your pension is more than just a savings account; it’s your route to the future you want.
Whether you’re just starting out, in your middle years, or nearing retirement, there are options and resources to help you.
Now is the time to take control of your investments and make informed choices so that you feel confident about your future.
Log into OneView (see instructions in the page footer) to find a wealth of tools, including:
- A personalised view of your Dell Scheme Retirement Account, including your current fund value.
- A Retirement Illustrator to help you create different scenarios and see the potential impact on your future income.
- The latest Member Booklet and Investment Guide.
- Access to an ‘FAQ document’, with answers to many questions you may have about the Dell Scheme or your Retirement Account.
- Educational videos, providing information on a variety of topics.
Are you at the start of your career?
For younger members, saving more and starting early will significantly increase your quality of life when you retire.
Don’t forget that Dell will contribute 10% of pensionable salary if you contribute 5%. This means that if you currently pay the minimum 3%, you can increase your total contributions from 9% to 15% by contributing just 2% more. If you retire from Dell when you’re 65, this could be the difference of £275,000 if you join the Dell Scheme when you’re 30, or £150,000 if you join when you’re 40*.
*Source: Mercer, assuming an annual salary of £50,000 which increases in line with inflation. Figures shown ‘in today’s money’ and allow for inflation.
Boost your pension contributions with AVCs
If you’re already paying the maximum regular contribution but want to pay more, you can also pay Additional Voluntary Contributions (AVCs). By paying through salary sacrifice, your take-home pay will be slightly higher as you’ll benefit from not paying income tax or National Insurance contributions (NICs) on your pension contributions. In addition, Dell will share half of the Company’s NICs with you, increasing the amount you are saving for retirement further.
Have you reached the middle of your career?
If you’re 10-15 years from retirement, now is the perfect time to review your retirement savings strategy and make adjustments, if needed, to stay on track for a comfortable retirement.
Pensions UK’s Retirement Living Standards can help you set realistic goals for how much money you may need in retirement, depending on the standard of living you would like to achieve.
The latest figures, published in June 2025, indicate that a couple living outside London would currently need a minimum income of £43,900 (£31,700 for a single person), including the State Pension, to have a moderate lifestyle in retirement. This includes an annual holiday abroad, a three-year-old car replaced every seven years and a £103 weekly spend on groceries.
Are you retiring soon?
In the run up to retirement, it’s important that you regularly review your pension to ensure you are on the right path for the retirement you are looking for. Making increases to your pension contribution now will boost your savings and take you nearer to your retirement goals.
All members of the Dell Scheme also have access to the Pension Decision Service, which is a free service designed to help you make the right choice at retirement, based on your circumstances. Upon receipt of your retirement pack from Aptia, you will be provided with details on how to arrange a discussion with the Pension Decision Service.
Want to know more?
The MoneyHelper website is a great resource that offers impartial help on all aspects of money, including benefits, savings, pension choices and tracking down lost pensions. It’s backed by the Government and free to use.
Disclaimer This newsletter is for information only and does not constitute financial advice. The Trustees cannot give you advice on your pension options. Before you consider making any changes to your contributions or method of investments, you should always seek professional, impartial financial advice.