Both the employee and employer contributions are safely kept for you in the Scheme, by being invested on your behalf so that they can earn you some interest and grow your contributions. 

The Pension Scheme aims at increasing the value of your contributions by adding interest from investments.

The profit from investments of the assets of the Scheme will fund the interest credited to your Member’s Contribution Account.

In the first instance, bank rates are not fixed per se; they vary from time to time except that they remain stable over several months.  By the same token, it is not possible for the Scheme to have a fixed  interest rate as the rate to be applied will depend on the yields from its investments.  However, at the beginning of the financial year, an interim rate will be given based on the performance of the Scheme and its investments in the previous year.