I take family or unpaid leave?

 

If you take family leave, such as maternity or paternity leave, your contributions into the Plan will continue based on the basic Company salary you are paid. The Company will also continue to contribute to the Plan based on your normal pensionable salary, as if you were working normally.

For more information go to the taking family or unpaid leave section.

I am made redundant?

If you are made redundant you will be treated as if you have left the Plan and your pension would be calculated using this formula:

Pensionable pay x pensionable service x accrual rate

Member scenario



The definitions of pensionable pay and pensionable service are different in each of the defined benefit sections within the Plan. The definitions for your section are given on the page My DB section and its benefits.

Subject to Plan limits and the Company’s agreement, it may be possible to give up all or a part of your redundancy payment in return for an equivalent Special Company Contribution (SCC) to the Plan on your behalf.

You would need to make sure that this would not trigger the Annual Allowance (AA). Please go to the AA/LTA section . [Links to PAGE - AA/LTA page] for more information. We recommended that you seek independent financial advice if you are thinking of arranging a SCC.



I go and work overseas?

If you work overseas for a period of time, providing you are still employed by the UK Company you can continue to contribute to the Plan, subject to European Union restrictions.

If you are directly employed by an overseas company you will have to leave the Plan.

Please contact the Plan for more information.



Discounts

Aviva is offering additional discounts to its online premiums for car, home and travel insurance to new Aviva customers.

To find out more go to www.aviva.co.uk/affinities/pearson where you can find details of the products available and any eligibility criteria that may apply.

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