Sainsbury’s Retirement Savings Plan

Whether you’re an existing member, a new employee, or want to join the Plan, you’re in the right place to find out everything you need to know. Scroll down to get started or check out the FAQs if you’ve got a question about your savings in the SRSP.

About the SRSP

The Sainsbury’s Retirement Savings Plan (SRSP) is open to all current Sainsbury’s colleagues across all grades. You might be auto-enrolled into the SRSP, depending on your age and earnings, but if you don’t qualify for auto-enrolment, you can still join our pension.

How to join and change your contributions

You can go to MyHR to join today or change your contributions. Or, if you have any problems joining, please contact the AskHR team. If you don’t know how much you want to contribute when you join, you can use the cost calculator.

MyHR

Cost calculator

Manage Your Account (MYA)

The SRSP is run by Legal & General, one of the UK’s largest pension providers. They have a secure member website, Manage Your Account, where you can track the money building up in your SRSP pension pot.

Once you’ve registered for Manage Your Account, you’ll be able to:

make changes to your investments (but you don’t have to)
update your selected retirement age (the date you expect to retire)
see what difference paying more (or less) makes to the value of your pot
work out how much money you might need to live in retirement
update your nomination of beneficiaries
update your personal details.

Go to Manage Your Account

Explore your pension

The Sainsbury’s Retirement Savings Plan is part of the Legal & General Mastertrust. A mastertrust is a type of pension scheme that can be used to hold pension funds for lots of different employers and it’s managed by a single Trustee board with several professional trustees.

The Legal & General Mastertrust is a defined contribution pension scheme. This means you build up a pot of money by paying in regular contributions. Sainsbury’s also pays contributions into your pot. Your pot is invested, with the aim of helping your pension grow faster.

This page on Legal & General’s website explains how the SRSP works.

As a member of the SRSP, you can decide how to invest your pot, or you can use one of Legal & General’s Target Date Funds, where it’s all managed for you, depending on how far away from retirement you are. You can also choose to invest in an Islamic fund that’s managed in line with Shariah principles.

You can read more about your investment options on this page on Legal & General’s website.

You can switch your investments at any time through Manage Your Account.

Useful tools

Cost calculator

Work out the cost of Start Up contributions (or Step Up contributions, if you want to pay in more), and see how much Sainsbury’s will pay in.

Use tool

Retirement planner

See if you’re on track to achieve the retirement you want.

Use tool

State pension calculator

For many people, the State pension will make up a big part of their retirement income. How much will yours be worth?

Use tool