Level Plan Bonus: Overview

Bonus rates are announced in December.

Bonus rates are not expected, necessarily, to remain at constant levels from year to year. The target bonus is 1% below price inflation for the period September to September in the relevant currency. This is a target and not a guarantee as the bonus could be higher or lower. The bonus target may change over time.

The bonus rates are ratified each year following the results of the annual actuarial valuation.