What happens if you leave? If you leave service, no further contributions will be payable into FuturePlanner. On leaving service, contributions cease from both you and the Company and your Retirement Account with FuturePlanner will remain invested.
If you are younger than age 55*, you will become a ‘deferred’ member of the Plan. In the short term, you can continue to review the progress of your Retirement Account and make changes to your investments through the investment switch form. *This minimum age will increase to 57 in April 2028 for members who joined FuturePlanner on or after 4 November 2021.
If you are aged 55* or over, you can remain as a deferred member or you can draw your benefits. There is more information in the approaching retirement section. *This minimum age will increase to 57 in April 2028 for members who joined FuturePlanner on or after 4 November 2021.
The main option, however, if you are a deferred member, is to transfer your benefits to another registered pension provider or for there to be a buy-out into a personal arrangement. You can find more information about transfers and buy-outs here.