National Provident Fund

To talk to someone about your scheme, phone 0800 628 776

The Aircrew Scheme is a defined benefit scheme. The benefits payable by your scheme are guaranteed by the Crown.

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. The employer contribution rate from 1 April 2023 has been maintained at 390% of contributors’ contributions. Following the actuarial review completed as at 31 March 2023, effective from 1 July 2024, the employer contribution rate has been amended to 340% of contributor’s contributions, with a separate annual contribution towards the scheme’s expenses of $220,220 inclusive of 39% ESCT by the employer.

The investment return (after tax and expenses) earned by the scheme for the year ended 31 March 2023 was -1.55% (2022: 1.53%).

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 charts show the scheme’s asset allocation strategy effective from 1 February 2022.