What will happen to my benefits if I leave employment or opt out of the pension scheme?
If you opt out or leave employment you will be entitled to preserved benefits.
This means that your benefits are preserved within the fund until
- you are entitled to receive them
or - you elect to transfer your benefits to another pension arrangement
Your preserved benefits will increase in line with the consumer prices index.
If you have preserved benefits in the Cornwall Pension Fund it is important that you inform us if you change your address. This is because we will contact you shortly before your 60th birthday to see if:
- you intend to take your benefits
or - leave them in the fund until a later date.
Can I access my details online?
As a preserved member, you can sign up for My Pension Online. This allows you to securely:
- access your pension account details
- calculate pension benefits estimates
To find out more about this member self-service facility and sign up, please visit our My Pension Online section of this website.
How do I change my address?
All you need to do is write to us or email us, detailing your new address and quote your National Insurance Number and/or date of birth. We will then ensure that we update our records and all future correspondence will be sent to your new address.
Alternatively, you can sign up for My Pension Online. This allows you to access your pension account details securely online and update your address. To find out more about this member self-service facility and sign up, please visit our My Pension Online section of this website.
How do I change my nomination record?
If your circumstances have changed, it is important that you complete a new expression of wish for lump sum death benefits form. Alternatively, you can sign up for My Pension Online. This allows you to access your pension account details securely online and update your nomination details. To find out more about this member self-service facility and sign up, please visit our My Pension Online section of this website.
If applicable you may also wish to complete a nomination of cohabiting partner for survivors pension form. Please read the notes on the reverse of this form before completing to see if you are eligible to nominate a cohabiting partner. If you are married there is no need to complete this form.
Related Documents
It is important that all members complete an expression of wish for lump sum death benefits form. It is also important to ensure this is updated if personal circumstances change.
