From 4 February there will be a new process for opting out of the Scheme. If you choose to opt out, the effective date of the application will be based on when your employer receives your opt out form, this is different to the current process where the effective date is based on when it is received by us.

Any opt our application should therefore take effect from the first day of the month after your employer received the opt out form. For example if your employer receives your opt out form on 15 February, it would become effective from the start of March.

You can find more information about opting out and the benefits of staying in the Scheme here.