Payments and transfers
If you joined the Alstom
Pension Scheme between 1 October 2002 and 5 April 2006.
The infomation below relates to your deferred benefits in the Retirement Capital Plan, accrued between 1 October 2002 and 5 April 2006. If you were
employed by Alstom at 6 April 2006 then you may have joined the Alstom Defined Contribution (DC) Plan on that date.
You can leave your benefits in the scheme.
Your deferred pension will be subject to increases between your date of leaving and the date you take your benefits.
The payment of an early retirement pension under the APS is subject to the Rules of each Section of the Scheme. This may be subject to the consent of the Trustee and/or the Company.
The Company has agreed that until further notice, it will consent to deferred members of the APS taking early retirement from age 55. The Trustee will also give its consent from age 55, where Trustee consent is required under the Rules.
If your pension starts
before you reach age 65, please remember that it will be reduced to allow
for the fact that it will be paid for longer - please refer to the Early Retirement Factors. Please contact JLT Employee Benefits if you want to receive an estimate of your benefits at retirement.
Remember to let us know if your personal details change
(you move, or change name or marital status, for example). Fill in 'changes
in personal information' - form APS10 (pdf)
or send a letter. You might also need to update the information you have given
in your Expression of Wish:
You
can transfer your plan benefits to another scheme.
You can transfer your retirement capital plan benefits out of the scheme and into another pension scheme. This might be your new employer's scheme or a personal or stakeholder pension . Please remember that the Trustees will reduce the value of your retirement capital plan benefits because you are taking it early. The size of the reduction will depend on your age and is set by the company following advice from the scheme actuary. Due to the current funding position of the Scheme the maximum cash equivalent transfer value (CETV) that the Trustee would pay out at this time is 80% of the full CETV.
What you need to do
If you want to consider transferring your retirement capital in this way, please contact JLT Employee Benefits and ask for a statement that shows the transfer value. If you want to take the transfer value, please give us details about your new pension arrangements.
You can ask JLT Employee Benefits to work out your transfer value once a year. You can transfer your retirement capital at any time, even if it is several years since you left the scheme.
Get
in touch
If you have any questions about the scheme or your pension, please get
in touch.
