BGCM EC May 2017

Do I have to join?

New employees can decide not to join. Once you have joined, you can opt out of the Scheme at any time.

If you opt out after you have been employed for a month, you will be treated in the same way as a member who has left the GFTU's employment. Details are set out in Section 10 of this booklet for more details. You should note, however, that the GFTU will not pay contributions to any other pension arrangement that you make for yourself. You should also note that some of the life assurance benefits described in Section 8 will cease to apply to you and your family. If you decide to opt out and change your mind later, you can apply to rejoin the Scheme but your readmission will not be automatic. It will require the permission of the Trustees, and if you are admitted the Trustees may impose limits on the level of your benefits. You should think very carefully before deciding not to join or to opt out. Membership of the Scheme is a very valuable benefit, and you should consider taking financial advice before making your decision. You are allowed to be a member of another pension scheme, such as a personal pension scheme, at the same time as being a member of this Scheme. If you are, or if you have been a member of another pension scheme in the past, it is important that you tell the Trustees. This is because the tax limits that apply to pension schemes are calculated on the basis of all of the pension schemes of which you are or have been a member. Further information about this is set out in Section 16 of this booklet. Other pension schemes

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