Options
Opting Out
You are automatically enrolled into the Fund when you join the company.
You do have the option to opt out of the Fund, but we recommend that if you are considering opting out that you do read our Guide to Opting Out and seek appropriate financial advice.
Ceasing Contributions
If you joined the Fund when it was formed on 1 April 1989 you have the option to cease contribution at age 60 and at age 65 if you didn’t choose to cease contributing at age 60.
If you joined the Fund after 2 April 1989 you have the option to cease contributing at age 65.
As you approach the age where this option applies, we will write to you with details and recommend that you consider the option carefully, taking financial advice if necessary, our Guide to Ceasing Contributions provides more information on this option.
Absence from work
If you take maternity leave or adoption leave and that period of leave includes a period which would not normally be pensionable, you will usually have the option to pay contributions for any no pensionable period when you return. Similarly if you were to take a career break, you will usually have the option to pay contributions for the pensionable period when you return.
We will write to you with details of the options and recommend that you consider the options carefully and return your decision form by the deadline. Further information can be found in our guide.
Increasing your contributions
If you are considering increasing your contributions please read the AVC section of this website.