Once you are enrolled, you will receive a letter confirming that you are an active member of the Scheme. You will then have a period of one month from the date on the letter to either opt-out online or complete and return an ‘Opt-out Form’. This is known as the opt out period. You can opt out by getting a form from Aegon.
If you require any help with the website or have any issues you can contact Aegon on 0345 603 4048.
As long as you have opted-out by the end of the opt out period, you will be treated as having never been an active member of the Scheme and your contributions, if any, will be refunded via payroll, with appropriate deductions of PAYE and National Insurance.
If you do not opt out within the opt out period then any contributions made to the Scheme will remain invested until you choose to take them at retirement, or transfer them to another pension scheme.