Home
Automatic
enrolment
State Pension
If you need
a financial
adviser
If you’ve lost
track of your
pension
What you
get back at
retirement
Access your
policy online
Changing
contributions
Planning for
retirement
Transferring
pensions
Useful information
about your pension
1
Home
Automatic
enrolment
State Pension
If you need
a financial
adviser
If you’ve lost
track of your
pension
What you
get back at
retirement
Access your
policy online
Changing
contributions
Planning for
retirement
Transferring
pensions
Automatic enrolment
State Pension
Automatic enrolment (often known as just auto enrolment) is a law that requires every
employer to automatically enrol their employees into a workplace pension scheme if they
meet specific criteria. It was introduced by the Government to help workers provide an
income for when they retire. Generally speaking, workers are not saving enough for their
old age and the State Pension is unlikely to provide an adequate pension for most people.
Some workers will therefore be automatically enrolled into their employer’s pension
scheme, whereas others will have the option of joining their employer’s pension scheme.
Need to know about when you will receive the State Pension, how much it will be or
how to get a statement?
Please go to https://www.gov.uk/browse/working/state-pension*
For more detailed information on automatic enrolment, please click here.
Please note that the website(s) marked with a * may not
be regulated by the Financial Conduct Authority and as
they are not operated by Friends Life we cannot be liable
for their content.
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Home
Automatic
enrolment
State Pension
If you need
a financial
adviser
If you’ve lost
track of your
pension
What you
get back at
retirement
Access your
policy online
Changing
contributions
Planning for
retirement
Transferring
pensions
If you need a financial adviser
If you’ve lost track of your pension
You can look online at www.unbiased.co.uk* and find financial advisers in your area.
You may be charged for any advice received from the adviser.
If you had a pension previously and you have lost where this is, the Pension Tracing Service
will be able to help you track this down. Please contact them on the details below:
Pension Tracing Service
The Pension Service 9
Mail Handling Site A
Wolverhampton
WV98 1LU
0845 6002537
https://www.gov.uk/find-lost-pension*
Please note that the website(s) marked with a *
may not be regulated by the Financial Conduct
Authority and as they are not operated by Friends
Life we cannot be liable for their content.
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Home
Automatic
enrolment
State Pension
If you need
a financial
adviser
If you’ve lost
track of your
pension
What you
get back at
retirement
Access your
policy online
Changing
contributions
Planning for
retirement
Transferring
pensions
What you get back at retirement
Access your policy online
The amount you get back at retirement depends on a number of factors including:
You can access your policy online by logging in to Membersite.
• your contributions
Once you have logged in you can:
• your employer contributions
• check and update your personal details
• the length of time you have been making these contributions
• confirm which funds your money is invested in
• how well your investment performs
• monitor what contributions have been made
• the charges we take
• check the value of your pension
• the option you choose at retirement
• change the funds you’re invested in, including access to past performance
• annuity rates at the time you retire.
• change investment programme choices.
Past performance is no guide to future performance and should not be the sole basis of an
investment decision.
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Home
Automatic
enrolment
State Pension
If you need
a financial
adviser
If you’ve lost
track of your
pension
What you
get back at
retirement
Access your
policy online
Changing
contributions
Planning for
retirement
Transferring
pensions
Changing contributions
Planning for retirement
You can usually alter your contributions at any time, but if you decrease or stop them
the level of contributions your employer makes may reduce or cease completely. If you
stop contributions, please note that charges will still be taken and this will reduce the
fund value in future. If you are considering doing this, we recommend that you request
an illustration from Friends Life. In most cases you can restart contributions at any
time as long as you are still eligible to contribute to the scheme. If you are considering
altering your contributions please speak to your employer.
The recent budget announcements on pension changes and proposed changes, mean
you’ll have greater choice and flexibility over how you can access and use your pension
fund in the future.
If you decide to stop contributing and are eligible for automatic enrolment, you will
be re‑enrolled into the scheme at a later date at the minimum levels required.
http://customers.friendslife.co.uk/retirement-and-pensions/ready-to-retire/2014-budget.jsp
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Home
Automatic
enrolment
State Pension
If you need
a financial
adviser
If you’ve lost
track of your
pension
Transferring a pension to Friends Life
I am in a group pension or group stakeholder pension
If you are unsure of the type of scheme you are in, please check with your employer.
If you have a pension with another company, you may wish to transfer its value
into a transfer value account within this plan.
For more detailed information, please read the Transfer Value Account Key
features document.
There is no guarantee that doing this will increase your total benefits. Your existing
pension provider may make a charge for transferring. Your previous arrangements may
offer valuable guarantees which this plan cannot match. Please note that you could
miss out on potential market growth whilst the transfer is taking place. We strongly
recommend that you seek financial advice before transferring.
I am in a contracted-in money purchase
If you are unsure of the type of scheme you are in, please check with your employer.
The trustees may accept a transfer payment from another scheme or arrangement into
this scheme, but this is their choice. Please contact the trustees to make sure that
you are allowed to transfer into this scheme. If the trustees agree, we will give you an
illustration of what your pension income is likely to be.
There is no guarantee that doing this will increase your total benefits. Your existing
pension provider may make a charge for transferring. Your previous arrangements may
offer valuable guarantees which this plan cannot match. Please note that you could
miss out on potential market growth whilst the transfer is taking place. We strongly
recommend that you seek financial advice before transferring.
What you
get back at
retirement
Access your
policy online
Changing
contributions
Planning for
retirement
Transferring
pensions
Transferring your New Generation Pension
from Friends Life
Friends Life does not charge any exit charges or administration fees if you decide to
transfer your new generation pension plan to a different provider.
If you are invested in the Friends Life FP With Profits Fund, a market value reduction
could apply to the transfer. A market value reduction may apply in adverse investment
conditions, where the investment performance of the fund is lower than that reflected
in the bonuses already added to your plan. By applying a market value reduction,
we are lowering the transfer value to more closely match the value of the fund’s
underlying investments.
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Home
Automatic
enrolment
State Pension
If you need
a financial
adviser
Friends Life Limited
An incorporated company limited by shares and registered in England and Wales, number 4096141.
Registered office: Pixham End, Dorking, Surrey RH4 1QA. Authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Calls may be recorded. www.friendslife.com
Friends Life is a registered trade mark of the Friends Life group.
FE3016 12.14 (45868)
If you’ve lost
track of your
pension
What you
get back at
retirement
Access your
policy online
Changing
contributions
Planning for
retirement
Transferring
pensions
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