Opting out

If you want to opt out of the Scheme, you can do so by giving two months’ notice in writing.

By opting out, you’ll no longer build up pension in the Scheme and will lose the death-in-service and ill-health protection provided by the Scheme.

If you’re thinking about opting out, you should take independent financial advice. As the Scheme is closed to new joiners, you won’t be able to rejoin the Scheme once you’ve left.

If you would like to opt out and join Leonardo’s defined contribution scheme, FuturePlanner, you should join immediately so that you are eligible for any death or ill-health benefits offered under FuturePlanner.

If you plan to remain working for Leonardo after age 65, it’s important that you contact the Scheme administrator before reaching age 65 to decide whether you wish to continue making contributions to the Scheme or to opt out of the Scheme. Further information is contained in the Late Retirement section.