Opt-Out form for Group Pension Scheme - Scottish Widows 2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering your name in the 'Name of Employee' field. Ensure you print clearly to avoid any confusion.
  3. Next, fill in the 'Name of Employer' section with your employer's official name.
  4. Provide your National Insurance Number and Date of Birth in the respective fields. This information is crucial for identification purposes.
  5. Read through the important notes regarding opting out. Understand that you cannot be forced to opt out and that you may have options to rejoin later.
  6. In the declaration section, check the box indicating your wish to opt out and acknowledge the implications of this decision.
  7. Finally, sign and date the form at the bottom before submitting it to your employer.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.
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Once youre enrolled into the pension scheme, theres a one-month timeframe in which you can opt out. This is called the opt out period. It starts from whichever date is the later of: the date you received a letter from your employer with enrolment information.
You can lower it (Tier I vs Tier II), but you cant get rid of it. You can recoup the amount you put in if you leave the state and choose to cash out instead of leaving it with CalPERS, but you would only be getting what you put in. The amount the state contributes is nothing more than an accounting number.
With The Peoples Pension, you have an Online Account where you can check the balance of your pension pot. And if you want to take a lump sum from your pot, you can do that through your Online Account too. Youll just need to fill out an online form each time you want to request a lump sum.
You wont be able to opt out until youve had your first contribution deducted and been enrolled into The Peoples Pension by your employer. If you opt out within 1 calendar month of being enrolled, youll receive a refund of the contributions deducted.
Call us on 0345 755 6557, Monday to Friday, 9am to 5pm. You can opt out online in Money4Life. Your login details will be in the letter you should have got when you joined the pension. Youll see the link to opt out if youre still able to.
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You can either call our opt-out service on 0300 330 1280, or you can opt out online (you wont need to set up your account to do this).
ACCESS IT FLEXIBLY Take up to 25% of your pension pot as a tax-free cash lump sum, and keep the rest invested in your Retirement Account, taking taxable withdrawals as-and-when you like. The level of income you take and any investment growth will be key factors as to how long your pension pot will last.

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