Work in progress - This page will be updated in 2016.

Opting out

Consider this

If you opt out of the Scheme it’s important to plan where your retirement income will come from. You are recommended to seek independent financial advice. Visit to find an advisor in your local area.

If you choose to opt out while you're still employed by TSB, you may be automatically re-enrolled in the Scheme at a later date. Under AE legislation we must automatically enrol you into the Scheme every third anniversary from April 2014, if you're an eligible employee. This is because your circumstances might have changed. We’ll write to you to confirm when this is happening.

If you decide you want to opt out, you will need to complete an Opt out form and return it to the Scheme administrator.

Please note that depending on when your form is received it may not be possible to process your request before your next contribution is deducted. If a further contribution is paid it will be allocated to your account in the normal way.

Your employer cannot ask or force you to opt out. If this happens you should advise The Pensions Regulator. Visit for more information.

Opting out of the Scheme may affect any benefits payable to your dependants on the event of your death while you’re an employee of TSB. We recommend that you seek specialist financial advice if you are considering opting out.

If you opt out of the Scheme, you may be able to re-join the Scheme at a later date subject to the consent of TSB. See Joining for more information.

If you have another job outside TSB, your other employer might automatically enrol you into a workplace pension scheme, now or in the future. If you wish to opt out of that employer’s pension scheme, contact your other employer for details of how to do this.

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