Opting out

If you want to enquire about opting out of the Fund, please contact the Pensions Team for more information and a copy of the opt out form.

You are required to provide at least one month's notice of your intention to opt out of the scheme before your contributions cease. You will therefore continue to make contributions to the Fund until the expiration of this notice period.

Your Fund pension provides a valuable package of benefits and you are urged to consider this decision carefully. You may wish to seek independent financial advice before opting out.

Refunds

If you leave the Fund within two years of joining and have not paid your contributions through a salary sacrifice scheme, then you may be able to take a refund of your contributions, less the tax relief that you received on your contributions. If you have more than two years membership or have paid your contributions through a salary sacrifice scheme, then you will not be able to take a refund of your contributions.

Deferred benefits

If you leave the Fund and are not eligible to receive a refund of your contributions then you will receive a deferred benefit, which remains with the Fund until you draw it as a pension.