Former Employees’ Benefits


You can protect these aspects of your scheme by outsourcing it to the National Pension Trust:

  • Pre-A day tax-free cash calculation bases

  • Death-in-service lump sum benefits from inheritance tax

  • With-profit investments from the impact of Market Value Adjustments

  • Guaranteed Annuity Rates

No consent is necessary to transfer members’ DC (Defined Contributions) benefits from a trust-based scheme into the National Pension Trust. This can help you to secure DC benefits because of:

  • Costs – you don’t want to keep administering your former employees’ benefits

  • Wind-up – if your scheme is being wound-up

  • Entry to FAS - (Financial Assistance Scheme)

  • Entry to PPF - (Pension Protection Fund)

  • Governance – when trustees recognise they don’t have the time and/or resources to govern the benefits effectively (for example: the DC section of a hybrid scheme)

Members can also choose to transfer their accumulated benefits into the National Pension Trust at any time, free of charge.


Ken Anderson

Ken Anderson