Leaving the Fund

There may come a time when you wish to leave the Fund – if so, here are some of the ways you can go about it:

Opting out after auto-enrolment

You might feel that paying into a pension scheme isn’t right for you at the moment.  You can opt out of the Fund at any time by contacting pensions administrator Railpen. Email csu@railpen.com or ring the Helpline on 0800 012 1117 to request an opt-out pack.

You need to quote your pension reference number when you contact Railpen. You will find this ​​​in your Membership details when you log in to myFund.

Once you leave the Fund, and if you are not eligible for benefits or a refund, you will become a ‘preserved’ member. Your benefits are frozen, or ‘preserved’, because you and your employer are no longer contributing to them. However, the benefits will receive an annual increase until you retire. This increase is set by government orders and has historically been in line with inflation.

Your benefits are ​calculated at your date of leaving, and will increase annually in line with inflation (currently CPI) until you retire.


Thinking about retiring

Getting close to giving up the world of work can be both an exciting and daunting time, which may throw up plenty of questions for you.

There's plenty of information on this site that will give you support if you're planning for retirement.

It’s also worth logging into, or registering for, your personal myFund account and reading your Member’s guide for further details.