Opting out

Can I leave the Scheme while I am still working for the Company?

Membership of the Scheme is not a condition of employment and you can opt out of the Scheme whenever you wish. There is no specific period of notice, but you must advise your HR or Payroll Department in writing if you wish to 'opt out'. The Company may have a statutory obligation to re-enrol you from time to time. However, as the British Sugar section of the Scheme is closed to new entrants, you would have to join the DC section.

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 Pensionable Salary and service to the date of you opting-out.

Please remember, if you opt out of the Scheme your life cover will cease and you cannot rejoin the British Sugar section. If you wish to rejoin, you can apply to join the DC section. To retain continuous life cover, you would need to join the DC section immediately after leaving the British Sugar section. This would also mean you would not have to provide information on any pre-existing medical conditions, which normal joiners to the Scheme have to provide before being given life cover. For more information about life assurance cover in the DC section, please click here