Leaving your employer

Very few of us will have the same job all through their life. It’s said that we now have an average of 11 jobs during our working life. So it makes sense to know what could happen if you left your employer.

What if you change your job?

If you leave your employer, you will stop paying into Atlas. 

But your pension account will stay safely invested with Atlas. 

It stays where it is (hopefully continuing to grow) until you decide to use your pension account with Atlas or transfer it to another scheme.

Don’t forget that we’ll still provide you with an Annual Update every year, so you can keep track of your pension account. And you can always visit this website or log in to the Atlas member portal at any time, to keep track of how your pension account is doing.

If you want to transfer your pension account somewhere else, you can. We’d recommend you take financial advice before you transfer to another UK registered pension scheme. Click here for details of how to find an independent financial adviser (IFA).

What if you retire?

If you want to retire or use your pension account, you must usually be over 55. Apart from that, there’s lots of flexibility about how you can use your pension account. Click here to see more information about retirement and your options.

What if you die?

We don’t like to think about it, but it’s important to know that with Atlas, your loved ones will be looked after. If you die while you’re still paying in to Atlas your dependants could receive: 

  • A lump sum 
  • A pension for one or more of them.

There is no Inheritance Tax to be paid on any lump sum on your death because it’s paid under ‘discretionary trust’. A discretionary trust means the Trustee Board decides and they will consider your wishes but aren’t bound by them.

Paying death benefits in this way also means that the payments can be made quickly.

Don’t forget to check your Expression of Wish Form is up to date and remember it might need changing if you get married, divorced, or have a baby.

To complete, or update, an expression of wish form, click the log in button at the top of the page and select an online portal to log in to.