Leaving Nestlé
If you leave Nestlé you will become a ‘deferred’ member and the following things will happen:
If you are a DB Core or DB CorePlus member
You’ll stop building up pension in the Fund (from contributions from your salary and from Nestlé).
We’ll send you a statement that tells the value of your pension at your normal retirement date.
We’ll increase the value of your pension each April to help it keep up with inflation (the rising costs of buying everyday things). How much it increases by will depend on when you built it up and what section you were a member of (such as Lane 1 or DB CorePlus). If you’d like an update on the current value of your pension, you can request a statement from Nestlé Pensions.
Transferring your pension
After you leave Nestlé, you can transfer your pension to another registered pension provider, or you can leave it where it is and use it to provide a retirement income when you stop working.
As with all financial decisions, we’d recommend taking financial advice before transferring your pension to another provider.
You can find a regulated financial adviser near you at unbiased.co.uk.
Find out more about transferring your pension in the deferred section of this website.
Read more about your options at retirement
Before you leave Nestlé
Check we know who your loved ones are
Make sure your Nomination Form is up to date. If it’s been a while since you filled one in, or you have never filled in a Nomination Form, it’s worth doing so before you leave, so that the Trustees can use it to help them decide who might receive any cash sum that might be paid when you die.
Make sure your contact details are up to date
If you change your address or email address in the future please let Nestlé Pensions know so that they can contact you.
By law, we’re not allowed to give you advice about your investment choices. If you’d like to discuss your options, you should contact a financial adviser regulated by the Financial Conduct Authority. You can find one near you on unbiased.co.uk.