If you are automatically enrolled into a pension scheme you have the right to opt out of it.
You can opt out within one month of your enrolment date or one month from receiving your enrolment notification, whichever is later.
If you opt out within this time, any contributions you have made will be returned to you.
Contact your pension provider who will advise you or visit your Legal & General scheme microsite.
You can stop contributing to the pension scheme at any time. If you do, any contributions you or your employer has already made will remain in your pension pot until you take your benefits on retirement or at any time after age 55.
Depending on the type of scheme you belong to and how long you have been a member, you could be entitled to a short service refund of your own contributions if allowed under the rules of the scheme. Any contributions paid by your employer would be returned to them. The rules vary depending on the date you joined and a refund may be allowed if:
If you opt out or leave the pension scheme, your employer has to re-enrol you every three years if you're still eligible.
If you decide to rejoin your workplace pension scheme before this time, speak to your employer.
Get the most from your pension or savings by registering or logging in to Manage Your Account today.
This guide aims to support you in understanding automatic enrolment and how this can affect you and your savings for retirement.
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