Being away from work

Maternity, paternity and adoption leave

You will continue to pay into the scheme while you are receiving maternity, paternity, or adoption pay. The company’s contribution will be based on your pay before you went on leave. However, your own contributions will be based on your actual pay while you are away.

As XTRA reduces your gross pay, this can affect the amount of certain benefits you are entitled to by law, such as statutory maternity, paternity or adoption pay if you are taking part in XTRA. However, the company will make sure that any reduction to your pay is 'topped up' so you will not lose out.

We will work out your pension benefits as if you were working normally and receiving the normal pay for doing so.

Other reasons

If you are temporarily away from work for other reasons and you stop being paid by the company, you will not pay into the scheme and you will earn no benefits during the period of absence.

Death benefits while you are away

You will continue to be covered for the death benefits as if you were still paying into the scheme when you are on maternity, paternity or adoption leave as described above. Cover may continue during other absences if the company and trustees agree.

Opting out

You can decide to leave the scheme at any time whilst still working for the company. This is known as opting out. If you are considering opting out, you should think carefully about the benefits that the scheme provides.

If you decide that you do wish to opt out, you must give us at least six weeks’ written notice. If you opt out of the scheme you will not be able to re-join in the future as the scheme is closed to new members. You will however be able to join PensionSaver, the company’s defined contribution plan.