You can leave the Scheme at any time whilst employed by HBOS. We call this ‘opting out’.
When we receive your request to opt out, you will leave the Scheme from the end of the month in which we receive your request. Your notional contributions and those of HBOS will also cease at the end of this month. Please note that if, at the point when your opt out becomes effective, you have completed more than 2 years service, you will not be eligible for a refund of contributions as cash. Click here to see the options open to you if you opt out of the Scheme.
If you are thinking about opting out of the Scheme, you should consider taking financial advice. If affordability is an issue, you may wish to reduce contributions rather than stopping them altogether - that way you'll still be saving towards your retirement and benefitting from HBOS contributions too.
To discuss opting out and the options available to you, telephone 08456 406080 (option 5).
Online Opt Out Form
- complete this form if you would like to opt out of the Scheme. However, please note that you can
only rejoin the Scheme with the consent of HBOS. Once you have completed the form online click on
the 'Submit' button and it will be automatically sent to Group Pensions.
You can only access this form if you are viewing this website from a work computer.
