You can increase, decrease or stop making personal contributions or Pensions Plus contributions at any time via Workday.
You can take the benefits from your Personal Account and continue working under the flexible retirement option. Please refer to the Retirement options section of this website for more information.
To give you more flexibility with your pension savings the Trustee and Company may allow you to withdraw some or all of your Personal Account from the DC Section and transfer this to another registered pension scheme. Partial transfers are conditional and must be made with Company consent. For more information go to the Partial transfers section of this website.
Provided the proposed transfer meets certain criteria then transfers into the DC Section are permitted. Please refer to the Transfer in section of this website for more information.
There is broad range of funds available to you including 3 Lifestyle Profiles which alter your investments for you the closer you get to your selected retirement age. Please see the Investments section of this website for more information.
You will have certain options available to you on leaving the Company dependent upon how long you were a member of the Scheme at the time of leaving. Further information is available from the Leaving section of this website.
In the event of your death a benefit may become payable to your Spouse, Civil Partner/same sex spouse and/or Dependant(s). This benefit will be a return of the value of your Personal Account.
Please note, to ensure the Trustee is aware of your wishes it is important you regularly complete an Expression of Wish Form.
Following your death your Spouse or Civil Partner will generally receive a pension. To find out more, visit the Death Benefits page.
Under current legislation the earliest that you may retire is age 55, please note this is changing to age 57 in 2028. If you joined the DC Section before 6 April 2006 you may retire at age 50. You must take your retirement benefits on or before age 75. For more information see our Retirement options section.
Lots of important information about the Scheme is available on this website including the funds available to you for investment, your retirement options and how your family are protected in the event of your death. For full details please refer to the Member Booklet available in the Guides section of the Documents library.
You can update your personal details through the My Account facility on this website. Registering for access is very straightforward and the Trustee would encourage you to do so if you are not already registered.
If you cannot find the answer to your question on this website, then you can speak to the DC Section Administrator, details for whom can be found under Administrator in the Contact section of the website.
When you retire, you will have the choice of taking up to 25% of the value of Personal Account as a tax-free cash lump sum.
DISCLAIMER: The purpose of this video presentation is not to provide tax or financial advice. The Trustee of the Prudential Staff Pension Scheme is legally prevented from giving financial advice. This video presentation aims to help you better understand certain aspects of your pension scheme and the choices you may have. All benefits from the Prudential Staff Pension Scheme are payable in accordance with the Trust Deed and Rules, the legal document governing the Scheme. In the unlikely event of any discrepancy between any information provided to you in this presentation and the Trust Deed and Rules, the Trust Deed and Rules will prevail.
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