Changing Contributions


You can change your contribution at any time by logging into Telefónica Rewards.


For Defined Contribution (DC/ Money Purchase/ Section 1 and 1B) members you can increase your contributions up to the point where you exceed the national minimum wage, you will also need to make sure you can meet your other financial commitments (such as National Insurance Contributions). If you're a high earner and you're considering making higher contributions, it may be worth considering any tax implications relating to your annual allowance and lifetime allowance. There are also a number of Pension tax relief restrictions. Please note once you exceed 9% employee contributions the maximum employer contributions would be 11.5%.