For deferred members

As a deferred member of the Plan, your benefits are left in the Plan until you retire or choose to transfer them to another registered pension arrangement.

What are my benefits?

This depends on which section of the Plan you belong to. For more detailed information relating to your specific section of the Plan, See Further information. If you don't know which section applies to you, this page will allow you to enter your National Insurance number or send a message to the Pensions Department to find out.

Can I transfer my benefits?

You can transfer your benefits to another registered pension arrangement, such as your new employer's scheme, at any time.

If you are a member of one of the final pay sections of the Plan and you decide to take a transfer, we will pay the cash equivalent of your Plan benefits to your chosen pension arrangement.

If you are a member of one of the money purchase sections of the Plan, we will pay the full value of your Pension Fund to your chosen pension arrangement.

The transfer out factsheet provides information on how to transfer-out the value of your Plan benefits to another pension arrangement.

If you are considering a transfer, the attached Information for Financial Advisers provides information about the Plan which will assist your financial adviser.

What happens if I die before I take my benefits?

If you die before retirement while you are a deferred member of the Plan, a pension will normally be payable to your spouse or civil partner, together with a refund of your own contributions. For full details of your death benefits, see Further information.

Remember to keep your Expression of Wish Form up to date and consider whether you need to complete a new form if your personal circumstances change. You can download an Expression of Wish Form or request one from the Pensions Department.

What will my retirement options be?

Your options at retirement will depend on which section of the Plan you are a member of. Please see the “Your options at retirement” leaflets for the Money Purchase 2003 section and the Auto Enrolment section. If you are a member of one of the final pay sections the budget summary leaflet gives information on your retirement options.

The transfer out factsheet provides information on how to transfer-out the value of your Plan benefits to another pension arrangement.

The total value of all your pension benefits, excluding State pension, cannot exceed the Lifetime Allowance (LTA), without attracting a tax charge on the excess. Most people will have pension entitlements that are substantially below the LTA and the Pensions Department will help you to establish your position at retirement.”

What should I do if I change my address?

It is very important that you notify the Pensions Department of any change of address, so that we can keep in contact with you.

For more detailed information relating to your specific section of the Plan, please see Further information