Annuity Plan: Overview

Bonus rates are announced in December and applied to the Annuity benefits on 1 January.

Bonus rates are not expected, necessarily to remain at constant levels from year to year. The target bonus is price inflation for the period September to September in the relevant currency. This is not a guarantee but rather a target and should not be regarded as the upper or lower limit of future bonus rates.

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