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Don’t want to stay in the pension?

Before you leave, here’s why it’s worth sticking with it

Being in the pension means your future self gets a boost. And it comes with extra benefits too:

  • Free money from your employer. They pay in alongside you. If you leave the scheme that stops.

  • Tax relief - contributing to your pension scheme could help you reduce the amount of tax you pay. 

  • Money tools and education. Get clarity and confidence with our jargon-free support.

  • Sustainable investing. Through Smart Pension, our pension partner, your savings help build a greener future.

  • A simple, modern experience. No paperwork. No confusion. Just a pension that makes sense.

Why it matters

Leaving your pension is a big decision. If you opt out, your employer will stop paying in. And that’s money you won’t get back. It could also mean having less to live on later in life. That can make things feel tighter down the line. Take a moment and make sure you’re clear on what you’re giving up, and what you’re keeping.

It’s worth pausing before you decide.

Not sure what to do?

You're not on your own. If you’re feeling unsure, it’s a good idea to talk it through with a financial coach. Thrive gives you access to qualified coaches who can help you understand the impact of leaving and whether it’s the right move for you.

You can book a session in the app. It’s free, and there’s no pressure. Just support.

Still want to leave? Here’s how it works

There are two ways to leave your pension scheme. Which one applies depends on how long you’ve been a member.

1. If you’ve been enrolled for less than a month

You can leave and get a refund. This is called opting out, and it’s only available during your first month.

What happens:

  • You’ll be removed from the scheme.

  • Any money paid in by you or your employer will be refunded.

2. If it’s been more than a month

You can still leave, but your money stays invested. This is known as ceasing membership.

What happens:

  • You and your employer stop paying in.

  • You won’t get a refund.

  • Your pension savings stay invested for your future.

Want to go ahead?

To leave the scheme, you’ll need to contact Smart Pension directly. 

You can email Smart Pension here.

You can also contact Smart Pension directly on 0333 666 2626

They’ll explain what happens next, based on how long you’ve been in the scheme.