The Defined Contribution (DC) Section of the Prudential Staff Pension Scheme (the Scheme)
Joining the Scheme
You automatically join the Scheme when you start working for the Company but you'll have a number of choices to make.
Getting money in
Maximising the contributions paid into your Personal Account can have a significant impact in later life. If you have pension savings in other pension schemes you may be abe to transfer them into your Personal Account.
Growing your money
The money in your Personal Account is invested funds so there is a potential for its value to grow. Selecting the right investment strategy for you is a very important decision.
Life events
During our lives we experience milestone events. Some good, some not so good. They can affect how we save for the future. In some situations your Pension Scheme can help, so it's important to keep us up to date with any change in your circumstances.
Taking money out
You can start to take your benefits from your account after you reach age 55*. There are several options for doing this.
- Options at retirement age
- Annuity providers
- Retirement Options Modeller
- When can I take my benefits?
*This is the current minimum retirement age however this is rising to age 57 from 6 April 2028.
Leaving the Scheme
You can stop paying into the Scheme at any time. What happens when you do this will depend on how long you've been a member. If you are a Deferred member you can transfer your Personal Account to another pension scheme.
