Opt Out Form - Word Version

You can use this form to opt out of the pension scheme, but before you go have you thought about switching into the 50/50 scheme instead?

In the 50/50 scheme you pay half the usual amount of contributions and in turn build up half the usual amount of pension, but you also get the following benefits:

• Death in service benefits stay at their full value
• Ill health retirement enhancements stay at their full value
• Redundancy protections stay in place

The 50/50 scheme reduces the cost of being the pension scheme while keeping your safety net intact, and you can easily switch back into the main scheme or opt out in the future.  Sound good?  You can find the 50/50 switch form here.

Still want to opt out?  No problem, just complete this form and return it to your payroll department who will arrange for your contributions to stop.

Keep in mind that your death in service and ill health retirement enhancements will end, so you should check that you have life and critical illness cover in place elsewhere.