If you are about to join Unilever, or have recently joined, you should have received summary information about the Unilever UK Pensions Fund ('the Fund') with your terms and conditions of employment. This website gives you more information about the benefits available in the Fund.
As a new joiner to the Fund, there are two parts of the Fund that apply to you – the Career average plan, and the Investing plan. You build up benefits in the Career average plan and may also build up benefits in the Investing plan at the same time:
Because we feel saving for retirement is important, we enrol everyone starting at Unilever into the plan.
You can opt out
If you decide the Fund is not for you, you need to complete, sign and return an opt-out form after you have started work at Unilever, and have joined the Fund (that is, become an ‘active member’ of the Fund). Although you will join the Fund on the day that you start work at Unilever, if you return this opt-out form, duly completed, within a month of your employment start date, then your membership will be cancelled with retroactive effect from your employment start date. (You can also opt out at a later stage if you so wish, but in that case your membership will stop when that opt out takes effect.) The opting-out form is also available from the Unilever Pensions Team.
You should think carefully before taking the decision to opt out, as it will mean that you will no longer be saving towards your retirement. You may also want to take independent financial advice before deciding. If you do not have a financial adviser, you can use the website www.unbiased.co.uk to find one in your local area.
In addition, there are a number of websites available that can provide you with guidance on pensions and saving for your retirement, such as The Pensions Advisory Service and the Government's website, www.gov.uk.
You can change your mind
If you opt out, you may choose to opt back in at any time. A joining form is available from the Unilever Pensions Team.