OPT-IN: Option to Increase Now
Welcome to our OPT-IN Offer information site
Here you’ll find information to help you make an informed decision about your OPT-IN Offer, as well as more information about your pension considerations. If you have any further questions, please go to the Contact page to contact our team.
What is an OPT-IN Offer
The pension you receive from the Scheme each year currently increases on a discretionary basis.
- The company are now offering you an option to receive a higher potential pension now by giving up these future pension increases.
- If you accept this option, your overall pension will increase to a higher flat-rate pension for life but you will no longer receive future increases on your pension.
Why is your former employer making this offer available?
It gives you more choice
Everyone has different personal circumstances and financial situations. These circumstances and your financial situation will affect your decisions. The OPT-IN provides you with a new choice about how you receive your future pension.
It helps reduce the Scheme’s risks
If members choose the once-off OPT-IN increase, the level of inflation risk in the Scheme will reduce. This will mean that there is a greater level of predictability around future pension payments, and this will reduce the risk to the Company of running the Scheme.
