You will need to complete and sign an ‘opting out form’ which can be obtained from the Pensions Department. Alternatively you can download the form below:

If this is the first time you have opted out of the Group Pension Scheme please complete this form

If this is the second time you have opted out of the Group Pension Scheme please complete this form

If you are in any doubt as to whether you have opted out of the Group Pension Scheme previously please contact the Pensions Department for clarification.

Note: If you complete an incorrect form for your circumstances it will be rejected and we will send you a new form to complete.

You can opt out of the Scheme from the 1st of any calendar month, providing your completed form is received by the Pensions Department before this date.

This will depend on how long you have been a member of the Scheme. As an opted out member you are treated as a Pension Scheme leaver in the same way as someone who is leaving the employment of the OUP.  Please select the relevant link below which will take you to the 'Leaving the Press' section:

Group Scheme member for 3 months or less

Group Scheme member for more than 3 months but less than 2 years

Group Scheme member for 2 or more years

Your Life Cover will reduce, as a result of opting out, to once times Pensionable Salary.

No. The Pension Contribution figure quoted at the top of your payslip is a ‘gross’ figure.  Your pension contributions are deducted from your gross pay before your tax code is applied. This means you get automatic tax relief. You also pay a lower contracted-out rate of National Insurance.

When you opt out you will no longer receive this tax relief and the lower, contracted out, rate of National Insurance will cease.

Therefore, if your reason for opting out is a financial decision, you may wish to contact the Payroll Department and ask how your net pay would be affected if you stopped making pension contributions. The saving may not be as much as you had anticipated and so may affect your decision to opt out.

If you are opting out of the Scheme for the first time, you may apply to rejoin the Scheme providing the application is made within 5 years of opting out, or before your 30th birthday, if later.

If you are opting out of the Scheme for a second time i.e. you opted out of the Scheme on a previous occasion*, have subsequently rejoined the Scheme and now wish to opt out again, you will not be able to rejoin the Scheme. You could, however, join the Stakeholder Scheme if you wished to.

*this includes ‘opting out’ from outset (you did not join the Pension Scheme from the first date you were eligible to do so)

If you are in any doubt as to whether you have opted out of the Group Pension Scheme previously please contact the Pension Department for clarification.

No. The 60ths accrual rate was withdrawn in March 2006.  If you opt out of the Scheme, and later decide to rejoin, you will accrue any future benefits at the 80ths accrual rate.