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Managing my BRASS

When you pay into BRASS, your additional contributions (known as AVCs) are paid into your pot (or Personal Retirement Account). Your BRASS pot is held separate to your main Fund pension.

Checking the value of your BRASS pot

Your BRASS pot is invested in a range of funds with the aim of helping it grow over time.

You should regularly monitor your BRASS fund choices and make sure you understand all of the options available.

You can see the overall value of your BRASS pot when you log in to your myFund account and go to the My Pension area and the Funds page.

The value of your pot, shown on the page, is based on the most recent unit price. You can find the unit price on the prices and performance page.

It will not be the actual value of your pot on that current day but will be the most recent value available.

There may also be circumstances in which daily trading needs to be suspended in order to protect your savings.

Getting an estimate of your BRASS pot

If you request an estimate of your pension, this will give you an estimated value of your BRASS pot as of the date you are requesting it. You can request an estimate when you log in to your myFund account.

Cut-out - Joining the fund 02

Video: Requesting an estimate of your pension benefits

Watch this short video to understand how to request an estimate of your benefits online.

Checking and changing your investment funds

It’s important to check your BRASS investment funds regularly to make sure they're working for you.

The easiest way to do this is to log in to your myFund account. Go to the myFund Account menu, then the My Pension section and select the Funds page.

You can invest into one or more of the Lifestyle strategies, where your funds will be managed on your behalf. You can alternatively choose to invest in investment funds, where you would manage your own investments, or a mix of Lifestyle strategies and investment funds.

In both cases, log in to your myFund account to:

  • Change your current fund holdings
  • Change which funds your AVCS will be paid to in future, or
  • Change both current and future funds

When you select one of these options, you can then allocate the percentage you would like to invest.

You can learn more about all the funds available on the BRASS fund choices page.

You can also read more about the differences between Lifestyle strategies and investment funds on the how investments work page.

You may want to speak to an Independent Financial Adviser (IFA) before making any decisions. You can find more information on the guidance and advice page.

Limits on what you can pay into BRASS

You should also be mindful of your tax limits when considering how much to pay into BRASS.

You can read more about the Annual Allowance, as well as more general information about BRASS contributions and the impact of making changes in the guide for BRASS members.

Changing your contributions and making a one-off payment

You can increase, reduce or stop your BRASS contributions at any time. However there may be restrictions on when you can do this if you’re in a salary sacrifice arrangement, which includes contributions to BRASS.

A salary sacrifice arrangement, sometimes known as a SMART arrangement, is one where you can ‘give up’ some of your salary and your employer pays your pension contributions on your behalf instead. Your take-home pay goes up because you are paying lower NI contributions. Ask your employer directly if you have any questions about that.

You can speak to your employer to change your BRASS contributions. If you'd like to make a one-off payment (also known as a BRASS top-up), email us at oneoffcontribution@railpen.com and we will take you through the process.

You might want to speak to an independent financial adviser about managing your BRASS and making the most of your pension savings. You can find more information on the guidance and advice page.