Co-op Retirement Savings Plan

Leave the Plan

Who is this form for?

You should complete this form if you would like to leave the Co-op Retirement Savings Plan (The Plan) and stop paying into your pension. You can do this if you have been a member for more than one calendar month. Please read the important information below before you continue.

This form isn’t for you if:

You’ve been enrolled in the last calendar month you can opt out through WorkSave Choice (You will find you enrolment code on your auto enrolment communication).
You would like to increase or decrease contributions.

Please read carefully the benefits you will lose on leaving the Plan. If you have any questions please contact the Plan helpline on 0345 026 8689, or visit the plan website.

Important information about leaving the Plan:

You will lose important benefits if you leave the Plan:

You will lose regular contributions from the Co-op.
Co-op made some changes to its pension arrangements from 10 June 2019. If you joined the old pension (Pace) before 10 June 2019 and stop paying contributions, you won’t be able to re-join again in the future on the same terms.
Any regular additional voluntary contributions will also be discontinued.

What are the alternatives to leaving the Plan?:

You can choose the amount you pay in. You should consider whether you could reduce your contribution and pay in a lower amount instead of stopping your contributions altogether. If you want to do this, you can choose to contribute as little as 1% of your Pay. If you’d like to amend your contributions, complete the increase or decrease contributions form.

If you are unsure what to do, we would always recommend taking financial advice. For information on how to find an adviser in your area, go to moneyhelper.org.uk and search for 'retirement adviser'. Financial advisers usually charge a fee for their services, but it will be personal to you and your circumstances

Declaration

Please confirm below that you wish to leave the Plan. This will be effective from the next available payroll run.

I understand that, by completing and submitting this form, I'm agreeing to leave the Plan.

I confirm that I wish to leave the Plan and I understand that I will lose any benefit associated with active membership of the plan, including contributions from the Co-op.

Your details

You will need to complete all of the fields to submit the form.

Employee number

National Insurance number

Forename(s)

Surname

Email address

Confirm email address

Online signature

Please complete an 'online signature' by entering your full name in the box below before submitting this form.

Your full name

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Once you submit this form your request to leave the Plan will be processed accordingly and L&G will send you the relevant information you will need to decide what to do with your pension account.