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About the plan
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Overview
The Compass Group Pension Plan (the Plan) is Compass’s pension arrangement in the UK and provides both defined benefit (also known as ‘salary related’) and defined contribution (also known as ‘money purchase’) pension benefits. (Defined contribution benefits since 1 January 2024 when the Compass Retirement Income Savings Plan (CRISP) was transferred into the Plan and became the CRISP Section of the Plan).
The Plan is set up under a trust and prior to the transfer in of CRISP was already made up of a number of defined benefit schemes which have been merged together.
The Plan is closed to new members, other than those joining the CRISP Section, and to future build-up of benefits on a defined benefit basis (with the exception of a small group of members previously in public sector schemes).
The CRISP Section of the Plan is open to employees who have been told that they are eligible to join, or who have completed two years’ service.
If you are receiving a monthly pension from the Plan, you can access details of your pension online through the XPS member portal.
Pensioner details
Once logged in, you can:
- View and download payslips and P60s
- View and update your contact details
- View, amend and add your nominated beneficiaries
- Ask to change the bank account into which your pension is paid
Pension increases
Pensions in payment are typically reviewed on 1 April each year and the level of increase which applies will depend on the section of the Plan you were a member of before you retired.
Typically, these increases relate to increases in the Retail Price Index but will have a maximum limit depending on what type of member you are. For more information specific to you, visit the XPS member portal.
Death in retirement
If you are a pensioner member and die in retirement, depending on which section of the Plan you are in, the following benefits will usually be payable:
- A spouse’s pension equal to 50% of your pension at retirement (before you exchanged any pension for a cash lump sum), plus any pension increases whilst in payment.
- If you die within 5 years of receiving your pension, an amount equal to the balance of five years’ outstanding pension payments would be payable as a lump sum to your beneficiary.
The Trustees have discretion to determine who will receive the lump sum payment. To help inform their decision, it’s important that you fill out an Expression of Wish form and keep it updated if your circumstances change. Your form will be used to help the Trustees decide who receives any lump sum payment when you die.
Log into the XPS member portal to view, amend and add your nominated beneficiaries.