If you have a question about your Scheme membership or benefits, or need to let us know about a change in your personal details, contact the Scheme administrator.
To get your retirement quote*, contact the Scheme administrator. They’ll carry out security checks so you’ll need to tell them:
– your National Insurance number or Scheme membership number
– two pieces of personal information (to check against the record we hold for you)
*A retirement quote is only available if you are over 55. If you are under 55, you can still ask for details of your retirement benefits, but this will be an estimate which is likely to change.
The Scheme administrator will send you a quotation with the appropriate forms, within 20 working days of receiving your request.
Want some help understanding your options or making your decision? You can get free, impartial guidance you can trust from MoneyHelper.
If you’d like to go ahead and take your pension benefits from the Scheme, you’ll need to complete the forms and return them with any documents requested (eg birth certificate). The administrator will return the originals to you.
Once your forms are received, the Scheme administrator will:
If you choose to take a tax-free cash sum, we’ll arrange for this to be paid on or around your retirement date.
Pension payments will be paid monthly and increased each year in line with the Scheme Rules. You will only receive a payslip if there has been a change of more than £5 since your previous monthly payment.
You, or a third party (like an independent financial adviser) with your written authority, may request a transfer-out quotation from the Scheme administrator at any time if you are under age 65. They will carry out security checks so you’ll need to tell them:
You can request one transfer-out quote within a 12 month period free of charge – additional requests in that period will be subject to an administration fee.
The Scheme administrator will send you a Cash Equivalent Transfer Value (CETV) statement and other related documents and forms. They aim to do this within 20 working days of receiving your request. The quote will be guaranteed for 3 months if you are below your normal retirement age.
If your transfer value (CETV) is more than £30,000, you are legally required to take independent financial advice before you are able to transfer your benefits away from the Scheme.
If you want to go ahead and transfer out of the Scheme, complete the discharge forms and return them to the Scheme administrator along with any other documents requested. If you do not do this within three months, a payment of £250 + VAT will be required to recalculate the transfer value.
Due to an increase in pensions scams, The Pensions Regulator now requires the administrator to carry out checks before they can pay your transfer value. These include checking for red and amber flags. If there are red flags present, the Trustee can stop the transfer from proceeding. If there are amber flags, you will be advised you must get guidance from this page on MoneyHelper before the transfer can go ahead.
Once the administrator has carried out these checks and can proceed, they will pay your transfer value to your chosen arrangement and confirm completion of the process to you. You will then no longer have any benefits remaining in the Scheme.
You can contact the Scheme’s administrator, providing the Scheme name, the full name of the person who has passed away, their address including the postcode and either their date of birth or National Insurance number.
They will let you know separately if they need to see any other documents.
The Scheme administrator will respond promptly and request any certificates or other documents we need (and will return the originals to you). They’ll then contact us (the Scheme Trustee) to get a decision on any discretionary benefits that may be due, such as a lump sum payment. If anything is payable, the Scheme administrator will get in touch with the member’s dependants.
It’s important to tell us if you’ve moved house, got married or have a long term partner. It helps us make sure we can pay your benefits promptly. Please contact the Scheme administrator if your details have changed.
The Trustee needs to know who you would like to receive any lump sum benefit payable on your death. You can do this by completing an expression of wish form – it only takes a few minutes. You can ask the Scheme administrator to send you a form. Please make sure you keep it up to date.
The Trustee has recently taken steps to secure the Scheme’s benefits with an insurance company, Canada Life. This insurance policy (known as a buy-in policy) with Canada Life covers the cost of paying members’ benefits, whether or not your pension is currently in payment. It also covers the benefits payable following the death of a pensioner or deferred member.
The Trustee owns this buy-in policy as an asset of the Scheme and will remain responsible for paying your pension at this time. The buy-in policy covers the cost of making payments due from the Scheme to members.
Nothing will change – your benefits under the Scheme remain as before. We are not changing the way your benefits are calculated or paid. We believe this insurance makes your benefits even more secure. The Scheme pays a fixed amount to the insurer and, in return, Canada Life will pay the Scheme money each month to cover the payment of your benefits.
You can contact the Scheme administrator to get a copy of your payslip.
We hope you’re happy with the service you receive. If you have any complaints, please raise them with the Scheme administrator first at stillmaterials@aon.com. If you’re dissatisfied with the response, you can contact the Trustee at Kion@vidett.com.
It’s wise to take independent financial advice before deciding how you’ll use your Scheme savings. Find out how to find a pension or retirement adviser on the MoneyHelper website here. Please make sure they are qualified to provide pension advice and you understand all the potential costs for their services upfront.
