Opting out

Membership of the Scheme is not a condition of employment and you can opt out of the Scheme whenever you wish. If you would like to opt out, you will need to contact Group Pensions on 0800 090 2267 and the team will be able to take your instruction over the phone. They will then pass this to your Payroll Department who will process your request on the next available payroll.

The Company may have a statutory obligation to re-enrol you under Auto Enrolment legislation. However, as the DB section of the Scheme is closed to new entrants, you would be enrolled into the DC section and you would have an opportunity to opt out at that time. 

If you do opt out, you will no longer be covered for the valuable death-in-service benefits and you will not be building up any more pensionable service.  You will have the same entitlements as if you had left ABF employment (i.e. a deferred pension, payable at your Normal Retirement Date). The deferred pension is calculated using the same formula as at Normal Retirement Date, but is based on your final Pensionable Earnings and service to the date of you opting-out.

The State Pension adjustment is calculated by reference to your pensionable service and the single person's basic State pension in the year of your withdrawal.

Please remember, if you opt out of the Scheme your life cover will cease and you cannot rejoin the DB Section. If you wish to re-join, you can apply to join the DC section. If there is any break between you opting out of the DB section and joining the DC section then you will need to provide information on pre-existing medical conditions before you will be covered for Death in Service and Ill Health retirement benefits. 

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