• It’s important to consider the significant benefits you will lose if you stop paying into your pension
  • Unless you have other substantial forms of income, you will need your own pension
  • If you understand this and still want to leave, you can opt out on our website
You may need to speak to us about this
Applies to all our plans

Need a little more information?

This video helps to explain a little more if you are thinking about leaving your workplace pension:

How do I opt out?

Leaving your workplace pension is a big decision. It’s important to understand exactly what you will lose if you decide to cease membership and opt out of saving for your future.

Your employer will have auto enrolled you into Creative Pension Trust, their chosen workplace pension scheme, because the full State Pension is very low and its future value and availability are not guaranteed. Unless you have significant and guaranteed forms of income that will continue into your retirement, you will need a pension of your own to provide you with additional income.

When you save into your workplace pension, not only does your money work hard to grow your savings over time, but your employer also pays in too. If you pay income tax on your earnings, also get this tax back on anything you pay into your Creative Pension Trust account. This is known as tax relief, and everything is taken care of for you automatically when you pay in. In practice, this means for every £20 you pay into your account with us, just £16 comes out of your pay if you are a Basic Rate taxpayer. If you pay Higher Rate tax, it’s just £12. This leaves more in your back pocket while also putting more away for the future.

Your workplace pension with us is an easy, effective, and very affordable way to save for the future, so consider this very carefully before you decide whether to cancel.

If you understand this and still want to leave, you can do so on our website.

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