Leaving Nestlé
If you leave Nestlé you will become a ‘deferred’ member and the following things will happen:
If you are a DB Core or DB CorePlus member
You’ll stop building up pension in the Fund (from contributions from your salary and from Nestlé).
We’ll send you a statement that tells the value of your pension at your normal retirement date.
We’ll increase the value of your pension each April to help it keep up with inflation (the rising costs of buying everyday things). How much it increases by will depend on when you built it up and what section you were a member of (such as Lane 1 or DB CorePlus). If you’d like an update on the current value of your pension, you can request a statement from Nestlé Pensions.
Transferring your pension
After you leave, you can choose to transfer your pension to another registered pension provider or leave it where it is and use it to provide a retirement income when you stop working.
As with all financial decisions, we’d recommend taking financial advice before transferring your pension to another provider.
You can search for an authorised independent financial adviser in the pensions and retirement section of the MoneyHelper website.
You can read more about transferring your pension in the deferred section of this website.
Read more about your options at retirement
Before you leave Nestlé
Check we know who your loved ones are
Make sure your Nomination Form is up to date. If it’s been a while since you filled one in, or you have never filled in a Nomination Form, it’s worth doing so before you leave, so that the Trustees can use it to help them decide who might receive any cash sum that might be paid when you die.
Make sure your contact details are up to date
If you change your address or email address in the future please let Nestlé Pensions know so that they can contact you.
If you want advice about your investment choices, you should contact an independent financial adviser. MoneyHelper has a list of advisers who are authorised by the Financial Conduct Authority. You can find this list in the pensions and retirement section of the MoneyHelper website.