Leaving a pension scheme

Although you will be automatically enrolled into a pension scheme, you do have a choice as to whether you remain in the scheme or not.

Before you opt out of any pension scheme, you should think carefully about the benefits you will be giving up. The University cannot provide any financial advice and recommend that you speak to an Independent Financial Advisor to discuss your options. You can use Unbiased to find one local to you.

Contributions you have already paid

If you are a member of USS or SAUL and opt out within three months you will receive a full refund, minus any tax and national insurance due, through the payroll. 

If you wish to leave but have been a member for more than three months you cannot receive a refund. The fund is frozen, this is known as deferred, for you until you wish to retire or transfer the pot to another pension provider. If you wish to discuss your options please contact reward@essex.ac.uk who can provide further information.

If you have been a member longer than three months then your pension pot is deferred until you wish to retire or start to contribute to the scheme again.

UECS and WHHL NEST members have to opt out within one-month of being auto-enrolled into the scheme. If you opt-out within that time then you will receive a refund via the payroll, minus any tax or national insurance due. If the month deadline is missed then the fund is frozen, known as deferred.  

How to opt out

Opting out is initiated by contacting your pension scheme directly. Please pay careful attention to any formal letters that you receive about your enrolment, so that you can respond if necessary.