Your Deferred Defined Contributions

You were part of the Defined Contributions Plan, if you paid pension contributions after 1 January 2012 into the Scheme.

As a deferred member, you may leave your pension account invested in the scheme until you decide to draw your pension or you may transfer the value of your pension account to another registered pension arrangement

If you leave your account with the scheme, you won’t be able to pay any more contributions into it unless you join again for a new period of membership.  The value may fall or rise, depending on financial market conditions. You will receive an annual statement from Legal & General showing you how your account is performing. You can monitor the value of your pension account by going onto the secure Legal & General website where you can set up password protected access if you have not already done so.

We recommend that you continue to actively review your investment choices and make any changes when needed.  You can do this through the Legal & General website or by telephoning them on 0845 070 8686 and entering PIN number 97 when prompted by the recorded message.  The person who answers your call will then know that you are ringing about the Baptist Pension Scheme.

Please ensure that you keep Legal & General informed of your up to date address.

The scheme booklets provide full details of the scheme. 

Ministers and Staff Sections

Basic Section

The options available to deferred members are in the section headed ‘leaving service’.  If you have any queries please contact the scheme administrators.

How to transfer out your Deferred Defined Contributions

If you wish to transfer out your deferred Defined Contributions, you should contact Legal & General directly.  If you are unsure of the consequences of transferring your benefits then please seek independent financial advice.

You can also contact the scheme administrators with any general queries about transferring out of the Defined Contributions arrangement.  They cannot give you financial advice but can explain how the Baptist Pension Scheme works, in general terms.

Managing your investment choices

When you joined the Defined Contribution Plan, you will have chosen either to invest your pension account in the Default Option or to self select your investments from a range of funds provided by L&G. You can change your choices at any time while you are a Deferred Member and you should reglarly review your investment strategy and make any changes when needed. The right choices for you now may not be appropriate later on.

You can find full details of your investments and the range of available funds on the L&G website.

If you are unsure of the consequences of switching investment funds, then please seek independent financial advice.

If you wish to see how your investment option(s) are performing, Legal & General produces fund reports every quarter.

Important Note

Please note that you only need to consider your investment choices in relation to your Defined Contribution membership. If you are also a deferred member of the Defined Benefit Plan, the Trustees of the Baptist Pension Scheme decide on the investment strategy and there are no investment decisions for you to make in relation to your membership before 2012.