Less than two years
With the Trustees’ agreement, you can currently choose a pension if you have less than two years’ pensionable service. Or, you can transfer your plan benefits (including your Investing plan benefits) into another arrangement.
Or, you can choose to receive an amount from Unilever equal to the contributions (with interest) made for you through the Unilever Contribution Arrangement – or a refund from the Unilever UK Pension Fund of any normal contributions (again, with interest) made to it.
This amount is paid less the cost of buying you back into the State Second pension (S2P), tax and National Insurance.
You will also receive a payment to cover any extra contributions made to your Investing plan account. You will receive an amount from Unilever equal to any fixed-term voluntary contributions, less tax (under current rules, normally 20%). The Unilever UK Pension Fund will refund the value of any variable additional voluntary contributions at the date you leave, less tax.
Please note that if you do not make a decision about your benefits within four months of leaving, we will assume you do not want a deferred pension or transfer and make the payments described above.