I am a retired/deferred member

Deferred members

If you are someone who has stopped paying contributions into one of our pension schemes, but you have not drawn your benefits from that scheme, you are a deferred member.

Keep in touch

It’s important that you tell us if you change address. This will help us keep in touch with you about your benefits, so that we can pay them promptly when you tell us you want to take them out.

For security reasons, we cannot take these changes over the phone or by email – they must all be notified to us in writing, and the request must be signed.

You can use a change of address form to tell us your new details. If you are a member of the AHBRSP, click here. If you are a Boots Pension Scheme member, click here. Otherwise, please write to the ​Alliance Healthcare & Boots Pensions, quoting your pension number, your old address and your new address.

Transferring your benefits

If you have built up a benefit in one of our pension schemes, you can ask to transfer it to another pension arrangement. For example, you might want to transfer it to your new employer’s pension scheme, if they allow it.

If you are a member of one of our defined benefit pensions, with a benefit valued at more than £30,000 and you want to transfer your pension to a defined contribution scheme, please note that the Trustees will ask to see proof that you have obtained independent financial advice before allowing the transfer to go ahead.

Please be aware that there are some unscrupulous companies out there who might promise to be able to help you ‘free’ your pension and take the money before age 55. You can find out more about these ‘pension scams’ here: http://www.thepensionsregulator.gov.uk/pension-scams

If you are considering transferring the value of your benefits to another pension arrangement, please contact Alliance Healthcare & Boots Pensions. You will be sent a quotation together with forms that will need to be completed and returned before the transfer can be paid out.

Early retirement

At any time after you reach age 55, you may apply to take your deferred pension early.

If you are retiring from one of our defined benefit pension schemes, please be aware that your pension will be reduced.

If you are retiring from one of our defined contribution schemes, you will receive the value of your pension pot on the date you draw it out.

Death benefits

If you die before you take your pension benefits, they may be paid to your spouse or other financial dependant or named beneficiary, depending on the rules of your scheme. 

Update your nomination of beneficiary form

Please remember to update your nomination of beneficiary form when your personal circumstances change (for example, if you get married, divorced or have a child). This form lets the Trustees know who you want to receive any lump sum benefits that are payable from your pension scheme on your death. The Trustees are not legally obliged to follow your instructions, but they would usually take them into account unless there was a very good reason not to.

If you are a member of the AHBRSP, click here to download the relevant form. If you are a Boots Pension Scheme member, click here.

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