SHPS | Defined Contribution

You might take time away from work for reasons like maternity or paternity leave, adoption and parental leave or a sabbatical. If you take a break or are absent from work due to ill-health and you are still getting paid by your employer you can continue to save. If any of your leave is unpaid, your savings would stop but anything you have already saved would remain invested. When you return to work you can start saving again and you can choose whether to make extra contributions to cover the period that you have been away.

If you take maternity leave your membership will continue for the first 39 weeks. You will pay contributions on the pay you receive and your employer will be expected to pay their normal contributions plus any shortfall in your contribution.

If you leave your employer you cannot continue as a member of the Scheme. The options you would have are the same that apply if you want to stop saving for your retirement but are remaining with your employer. The options are:

• Leave your savings invested (become a deferred member) - this means holding your savings in the same place until you retire - you can only do this if you have more than two years service in the Scheme.
• Transfer your savings - you can move your savings to another pension arrangement so you have everything in one place - this option is only available if you have more than three months service in the Scheme.
• Take a refund of your savings - you can only do this if you have been a member for less than two years and it is only the value of the contributions you have paid that is refunded. Your employer's contributions would be forfeited if you select this option.

To find out more speak to The Pensions Trust.

Please see the 'Your Questions' section for more information.

If you have benefits in a different pension arrangement you may be able to arrange for these to be transferred so that you have all your pension savings in one place. You will need the Member Form of Authority.

To find out more speak to The Pensions Trust.

The Court may decide to include pension rights if you are going through a divorce. If you need information about your pension you should contact The Pensions Trust.