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Preserved members

What will happen to my benefits if I leave employment or opt out of the pension scheme?

If you opt out or leave employment you will be entitled to preserved benefits.

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This means that your benefits are preserved within the fund until you are entitled to receive them, or until you elect to transfer your benefits to another pension arrangement. Your preserved benefits will increase in line with the consumer prices index.

If you have preserved benefits in the Cornwall Pension Fund it is important that you inform us if you change your address. This is because we will contact you shortly before your 60th birthday to see whether you intend to take your benefits, or leave them in the fund until a later date.

It is important that all members complete an expression of wish for lump sum death benefits form and ensure this is updated if personal circumstances change. You may wish to view lump sum death benefits for more information.

Any completed forms should be returned to the Cornwall Pension Fund, using the contact details displayed on this page.

Our Jargon Buster may help with pensions terminology.