The Aircrew Scheme is a defined benefit scheme. The benefits payable by your scheme are guaranteed by the Government.
Each year the Board’s Actuary carries out a review of the scheme to determine an employer contribution rate sufficient to meet the accrued and future liabilities of the scheme. Based on the latest review, completed as at 31 March 2020, the Actuary recommended the employer contribution rate be maintained at 390% of contributors’ contributions from 1 April 2021. The recommendation was endorsed by the Board.
The investment return (after tax and expenses) earned by the scheme for the year ended 31 March 2021 was 12.93% (2020: -1.70%).
How your money is invested
The scheme's asset allocation strategy is set by the Board and reviewed regularly. The asset allocation for the scheme was reviewed during the year. The pie chart shows the scheme’s asset allocation strategy effective from 1 February 2020 and the new strategy effective 1 October 2020.