• General

  • How much is it going to cost me?

    You can learn about your contributions, Perenco’s contributions and any tax relief you may receive on the ‘Contributions and Tax’ page or in the Perenco DC Scheme Booklet. If you have any questions about your contributions, please get in touch.

  • Can I pay more to my pension plan?

    You have the opportunity to contribute more into your pension pot by increasing how much you pay in each month, or by paying in a lump sum.

  • What happens if/when I leave my current employer?

    You cannot contribute to the Plan after you leave your employment. Company contributions will also cease.  If you have been a member of the Plan for less than 30 days you will be treated as having never joined the Scheme. Your contribution (made through salary exchange) will be returned to you less the usual income tax deduction. It will not be affected by the investment conditions nor will it include any element of your employer’s contribution.

    If you have been a member of the Plan for over 30 days, you can either leave your pension in the Plan or you can ask the Trustee Company to transfer the value of your Personal Account to another registered pension arrangement of your choice.

    If you remain in the Plan, this will mean that your Personal Account will remain invested in your selected funds and will continue to attract investment returns between your date of leaving and your Normal Pension Date. You will not be able to contribute to the Plan but you can choose to change how your Personal Account is invested and if you should decide to transfer your benefits you can do so at a later date. You will be given a statement of the funds which have accumulated in your Personal Account at the time you leave. Further statements will be issued annually so that you can keep track of your investment.

  • How do I change my retirement age?

    The default retirement age is 65 (Normal Pension Date). You may take your benefits at any time from age 55, provided the Company agrees. If you leave service and have not yet reached your Normal Pension Date, you may be able to take your benefits from age 55, with the consent of the Trustee Company. For further details please contact the Perenco Helpline. 

  • My contact details have changed, what do I do?

    Please contact us in order to update your details.

  • What if I don't want to be in this pension plan?

    If you have been automatically enrolled, then you are entitled to opt out of the Perenco UK Pension Plan within a month of receiving your enrolment letter. You can contact us for more information about opting out.

    Please note: you aren't able to opt out over the phone as by law your decision to opt out needs your online or written confirmation.

  • What do I do if I want to stay in the pension plan?

    If you wish to remain in the Perenco UK Pension Plan, then you don’t need to do anything. However, we do recommend reading up on the information on this site to ensure you’re making the most of your pension.

  • Why have I been enrolled again?

    Perenco are required by law to enrol you every three years if you still eligible and not a current member of the Perenco UK Pension Plan.

    That’s as long as you’re between 22 and below State Pension age, and are earning over the earnings threshold amount.

  • What options are available to me when I retire?

    You can learn more about the options available to you on the ‘Your options at retirement’ page. If you want further information, you can reach out to Pension Wise.

    Pension Wise

    Pension Wise is a free and impartial guidance service set up by the government, which aims to help you understand what your choices are and how they work. You will be able to get help on Pension Wise website, over the phone from the Pensions Advisory Service, or face to face at branches of the Citizens Advice Service.

  • When is the earliest I can take my benefits?

    You may retire and take your benefits at any time from age 55, provided the Company agrees.

  • Based on what I am paying now, what amount of pension will I get at retirement?

    You can get an estimate of your pension at retirement by using our contributions calculator.

  • Where does my pension go if I die?

    If you die after leaving the Company but before you retire or reach your Normal Pension Date your Personal Account will be paid as a lump sum. This will be payable at the Trustee Company’s discretion.

    In addition to this lump sum amount, the remaining funds in your Personal Account that cannot be paid as an additional tax-free lump sum will be used to purchase an annuity for your Dependants.

    Please see point 11.3 and 11.4 in the DC Scheme booklet for more information.

  • What tax implications might I face when it comes to my pension?

    You automatically receive tax relief at your highest rate on any contribution you make to the Plan as these contributions are deducted from your pay before tax is calculated.

    Please see point 4.4 in the DC Scheme booklet for more information.

  • What if I opted out, but want to opt back in again?

    You should consider your situation very carefully before taking any decision to opt out of the Plan, as you will not receive any further Company contributions, and you will not be allowed to make any additional voluntary contributions (AVCs) to the Plan.

    If you opt out of the Plan, you may only re-join the Plan later with the agreement of the Company and subject to any special terms and conditions imposed by the Trustee Company, which may include a medical examination.