Opt out

You can opt out of the Scheme at any time during your employment. However, because the Scheme is closed to new joiners, if you do decide to opt out, you will not be able to rejoin the Scheme in the future. Instead, you would join the Company's defined contribution arrangement.

It's important to understand what you are potentially giving up by opting out of the Scheme. Visit My Retirement Planner to understand more about your Scheme benefits and options.

Want to opt out?

What's the process?
1 Visit My Retirement Planner to understand all your options
3 UK Pensions Operations will send you an opt-out form within five working days
4 You confirm if you wish to go ahead, and must give a minimum of a full month’s notice
5 UK Pensions Operations will opt you out of the Scheme on the last day of the month
6 We update HR
7 You are now a deferred member. To access your benefits while still an employee, you'll need to transfer out first.

At retirement, you will receive a pension from the Scheme. If you continue to work for the Company, in line with Government rules, you may be automatically enrolled into the Company’s DC pension arrangement. We strongly recommend that you take independent financial advice before transferring any benefits.

If you are still working for the Company after three years of opting out, under Government rules, you’ll be automatically re-enrolled into the Company's defined contribution arrangement.