Policyholders overview


If the trustees of a defined benefit (final salary) pension scheme have purchased a buy-out policy from us, former members of the scheme become our policyholders and our customers. We guarantee to pay the pension benefits for these former members and if applicable, the pension benefits for their dependants.

Where this is the case, you will have received a Member Guide and Policy Document from us which details the benefits you will receive and the options available to deferred members.

We know this can be a complex subject. So it’s important we’re able to support you and bereaved dependants so that you understand your options. It’s not possible to outline all of the options available for every customer here, as these depend on the scheme that you were previously a member of. These details are contained within your Member Guide and Policy Document.

If you need more help or have any questions, this website, including our FAQs for deferred members and members with pensions in payment will provide support.

We also have a policyholder helpline to answer any queries or deal with any issues that you may have, quickly and efficiently. They can provide guidance, answer questions and point you towards other sources of information such as The Pensions Advisory Service. Or, if you would prefer, you can email us or write to us.