If you leave the Company you will have to leave the Plan. Contributions will no longer be paid in to your retirement savings. Your options will depend on how long you have been in the Plan.

If you have more than 30 days’ pensionable service when you leave the Plan you can:

• leave your retirement savings invested within the Plan until you retire; or
• transfer your total retirement savings to another occupational pension scheme or a personal pension scheme at any time after you leave the Plan

If you have less than 30 days’ pensionable service when you leave the Plan:

• You will receive a refund of your contributions less the statutory refund tax.  The Company’s contributions will be returned to the Plan
• If you were included in SMART you will still receive a refund of your contributions.  The refund will be equal to the amount which your salary has been reduced by and which the Company paid as contributions for you

If you joined the Plan before 1 October 2015, the refund option referred to above is available if you have pensionable service of less than two years.

Transfer values
The Experian Pensions team at Capita can provide you with a statement of your current transfer value together with instructions on how to go about transferring your benefits to another pension scheme or arrangement. The value will be the current value of your retirement savings, including the Company’s contributions. If you want to go ahead with the transfer then it will be adjusted for investment returns close to the actual date of payment.

If you wish to proceed with the transfer you will be required to reply within three months of the date the quotation is given. If you request a transfer value more than once in any twelve month period, the Trustees may charge for the provision of this information. 

Once you have transferred all of your benefits out of the Plan, the Trustees will no longer have any liability to provide benefits to you or your dependants.