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For many of life’s events, and how they can affect your benefits.
You can find more information on what happens to your pension contributions when you go on parental leave under ‘While you are away’ on OnePlace.
You’ll continue to be a member of the DC Section and your contributions and those made by the Partnership will be based on your part-time ranking pay.
You can transfer other DC savings into your DC Partnership pension, you can find out more information on the L&G website. Look in the ‘Getting your pensions into one place’ section or log into Manage Your Account and click on ‘transfer in other pensions’.
You should read the L&G guide to pension transfers before you decide to go ahead to make sure transferring your other pensions is the right decision for you.
If you leave the Partnership, both yours and the Partnership’s contributions will stop, and you won’t be able to make any further contributions. Your pension pot will stay invested. You’ll be able to continue to check in on your pension pot, and change your investments if you want to, using the L&G app or the online portal. If you join a new pension scheme with your new employer and you wish to move this pot to your new scheme, you’ll need to contact L&G to ask them for a transfer out pack.
It’s important that we hold your correct details, so that we can keep in touch with you and process any claims when the time comes for you to take your pension.
If you’re a current partner, you can update your personal details on Workday and these will be passed to L&G.
If you no longer work at the Partnership and only have a DC pension, you can update your personal details on L&G’s secure online member portal, Manage Your Account. All you need to do is log in to Manage Your Account and click ‘Account’ at the top of the page. There, you can update your personal details, your contact details, reset your password and get a User ID reminder and update your communication preferences.
If you no longer work at the Partnership and have a DB and DC pension, please update your personal details on your XPS MyPension account under ‘Update your details’.
What your loved ones could receive if you die after taking your DC pension pot will depend on how you accessed your money. We know it’s a sensitive subject and L&G is here to help if you have any questions.
You can also find more about what happens depending on the different options on L&G’s website.
If a member of the DC Section has passed away, you can contact L&G to let them know. The team will be able to help you and will send you the paperwork you need. You can also report a member’s death online.
L&G will ask whether you have a death certificate, who is the next of kin, if there is a will and whether anyone is applying for probate. It doesn’t matter if you don’t have all the answers or documents though – we know these things can take time to organise.
If the member was in both the DB and DC sections, XPS will manage this on behalf of L&G.
You’re likely to be a member of the DB Section of the Scheme if you worked at the Partnership before 1 April 2015. XPS is the administrator of the DB Section.
The DB Section closed on 1 April 2020 and therefore members who joined the Partnership after 1 April 2015 will only have a Defined Contribution pension pot.
This is where you can find information about your current pension if you’re a Partner now, or were a Partner after 1 April 2015. The Defined Contribution pages are probably the most important for you.
Members who joined the Partnership before 1 April 2015 may also hold DC pension pots with Prudential or Legal and General, as well as a Defined Benefit Pension in the Scheme. We previously referred to this as Hybrid or Dual Benefit. This is because you may have joined the DC Section of the Scheme when you started working at the Partnership and then, after a defined waiting period (which depends on the date you joined the Partnership), you would have become eligible to join the DB Section.
The DB Section closed on 1 April 2020 and therefore members who joined after 1 April 2015 will only have a DC Section pension pot.
