If you wish, you can choose to transfer the value of your pension out of the Fund and in to another registered pension scheme. Before you do this though, you should think carefully about if this is the right thing to do, especially if you have DB benefits, as you might be worse off. If you transfer your main Fund benefits to another pension arrangement, the value of your additional voluntary contributions will also be transferred.

Beware of pension transfer scams

Many people are falling victim to pension scams and losing their pension savings to those disguising themselves as pensions schemes advisors and experts. It’s important to stay aware when it comes to making decisions about transferring your pension. Follow the tips below to help make sure your savings are safe.

• Never accept an unexpected offer regarding your pension
• Always check who you’re dealing with
• Take advice from a regulated financial adviser
• Take your time and do your research – don’t be rushed into making a hasty decision.

For more information on how to keep your pension safe from scammers, visit The Pensions Regulator’s website at thepensionsregulator.gov.uk/pension-scams.

If you are currently considering or are in the process of transferring your Nestlé UK Pension benefits and think you may have fallen victim to a pension scam, you should contact Nestlé Pensions using the details on the back page as soon as possible. If the transfer value has not yet been paid out, we should be able to stop your savings being transferred. You should also call Action Fraud on 0300 123 2040.

Transferring out your DB benefits

If you take a cash transfer from a defined benefit section of the Fund the transfer value will include the benefits built up from Nestlé’s contributions.

If the value of your DB scheme is £30,000 or above, and you would like to transfer it to a DC arrangement, you’ll have to take advice from a regulated financial adviser before you can transfer. This rule is there to protect you and make sure you’re aware of all the pros and cons of transferring. Even if the value of your scheme is below £30,000, it’s still a good idea to take advice. You can search for an adviser who is authorised by the Financial Conduct Authority on the Money Advice Service’s website.

Transferring out your DC savings

If you take a cash transfer from DC Start or DC Core, the transfer value will be the value of your account at the date of transfer.