Frequently asked questions Group Pension Scheme Changes
We are here to make the transition of your new Group Pension Scheme as smooth as
possible. Please do not hesitate to contact us with any questions you may have but, in the
meantime, we have prepared some FAQs
The change is part of an ongoing effort to improve the benefits offered to employees.
We believe that this new scheme will provide better flexibility, enhanced investment
options, lower management fees in some cases and more long-term security for your
retirement.
The updated Group Pension Scheme will take effect over the coming months. You will
be provided with all necessary details and enrolment instructions ahead of this date,
along with the exact date in due course.
Your existing pension savings will remain in place. You may be offered the opportunity
to transfer these existing savings into the new scheme, which may offer improved
visibility and accessibility. Your contribution percentage is expected to stay the same
unless specified otherwise by your employer.
In most cases, employees will be automatically transitioned to the new scheme.
However, you may need to update your personal details or make decisions regarding
investment options. Further instructions will be provided.
In most cases, the core benefits will remain unless specified otherwise by your
employer.
We will be hosting information session workshops where you can learn about the new
scheme, ask questions, and understand how it affects you. Additionally, your HR or
Pension Scheme representative will be available for one-on-one consultations if
needed.
No, employer contributions will remain the same unless your employer notifies you of
any changes. From the implementation date of the new scheme, all contributions will
be made into the new scheme.
If you leave before the transition, your pension will still be based on the current
scheme, and you’ll be informed of what steps to take based on your exit date. You will
receive a pension summary and additional guidelines at that time.
Yes, once the updated scheme is in place, you’ll be able to review and adjust your plan
and other preferences based on the options offered, according to the updated rules.
For general enquiries and contribution information please contact your HR or Payroll
Department. For professional guidance, investment choices or pension decisions
please contact Rockstone Mortgage & Financial Advice Ltd – contact details below.
We look forward to ensuring this transition is smooth, and you fully understand all the
benefits the new scheme offers.
Rockstone Mortgage & Financial Advice Ltd
745, Ampress Lane
Lymington
SO41 8LW
