Leaving the Scheme or University

There are two ways in which you can leave Pensionable Service before Normal Retirement Age, either:

• By opting out of the Scheme - You can leave the Scheme whilst remaining in employment.  This is known as ‘opting-out’.  You should note that you will not automatically be allowed to re-join the Scheme in the future (but you can apply to do so).  If you decide to opt-out, you need to give one month’s notice, in writing, specifying the date from which you wish to opt out.  Please note that by opting-out you will lose all rights to death in service lump sum benefits under the Scheme.  In addition, your pension benefits will only be linked to your period of service prior to opting-out and the level of your salary prior to opting-out.  Your pension benefits will not be linked to future salary increases.
• By leaving employment with the University - Please note that on leaving employment with the University, you may not continue as an active (contributing) Member of the Scheme, under any circumstances.  If you are leaving employment, you do not need to notify the Pensions Office of this fact.  Human Resources will send notification to the Pensions Office that you are leaving.  The Pensions Office will then complete the relevant leaving forms to notify the pension scheme.  The Scheme will then send you details of your leaving service options within two months of the notification.

In either case, you should note that your benefits will cease to accumulate from the date of leaving and also all life cover will cease.

The options you have upon leaving will differ depending upon how long you have been a member of the Scheme:

• I have less than three months service
• I have more than three months but less than two years service
• I have more than two years service

 

Need help or more information?

Who to contact
If you have any queries then please contact the Pensions Office.