If you decide that you don’t want to be a member of the Fund, you can opt out.
If you opt out, you will be able to join DC Start at any time. All you need to do is complete, sign and return an Opt-in Form to Nestlé Pensions. And if you want to make bigger contributions and take advantage of better matching, you can choose to move to DC Core each quarter.
If you opt out, we may have to re-enrol you in the future. See Will I be re-enrolled? for more information.
Before opting out, you might want to take independent financial advice. To find an independent financial adviser in your area, visit directory.moneyadviceservice.org.uk.
When is your opt-out period?
Your opt-out period is either 30 days (if you are contractually enrolled) or one calendar month (if you are automatically enrolled) after the date you join, or are enrolled, into the Fund.
How to opt out
If we receive your opt-out request before the payroll cut-off in your opt-out period, you will be treated as not having become a member of the Fund. You will receive a refund of your contributions in your pay, taxed at your normal tax rate and have no further contributions deducted.
If we receive your opt-out request after the payroll cut-off in your opt out period, you’ll carry on being a member of the Fund for a second month. We will deduct a second contribution and then remove you from the Fund in the next payroll run. You will receive a refund of both contributions in that payroll.
Payroll cut-off is normally on or around the 5th of each month – if the 5th falls at a weekend, the cut-off will be earlier.
If your opt-out period has ended and you still want to stop saving into DC Start, see Opting out after your opt-out period ends.
Opting out after your opt-out period ends
If you want to leave the Fund after your opt-out period ends, you still can. Your options will depend on how long you have been a member. See Leaving Nestlé for more information.