Once you are a member of the pension scheme you may elect to pay 50 per cent of your pension contributions into the pension scheme in exchange for 50 per cent of the pension benefits.
This flexibility may be useful during times of financial hardship as it allows you to remain in the scheme, building up pension benefits as an alternative to opting out of the scheme.
If you were to die in service whilst in the 50/50 section of the scheme, the lump sum death grant would be worked out as if you were in the main section of the scheme.
You will automatically be enrolled back into the main section of the pension scheme every three years, in line with provisions which apply to all employers. However, you may then elect to return to the 50/50 section.
Choose the 50/50 option
If you are interested in this option please contact the Pensions Section who will send you an election form.