Articles on: My Account

How to opt-out from Collegia Pension - Guide

Opt-out from Collegia Pension


Auto-enrolment was introduced by the Government to encourage people to save for their retirement. Your employer needs to enrol you into their workplace pension scheme by law depending on your age and earnings.

That is the reason why you were enrolled into the Collegia Pension. By leaving the scheme, you’ll miss out on extra, free money paid into your pension pot by your employer and the Government.

However, ongoing membership in the Scheme is not compulsory. If you have been automatically enrolled or enrolled because of an opt-in request, you can choose to opt-out of the pension scheme.

It can only happen within a specific time period, one month, known as the opt-out period. It starts on the date you receive the welcome email from hello@collegia.co.uk.

You can opt-out, and your employer will refund any money you have paid into the pension. You won’t be able to opt-out earlier than the start of your opt-out period.

Once you opt-out, we will close your Collegia account, and any contributions made will be refunded directly by your employer.



How to opt-out?

To opt out, you first need to open the welcome email you have received from hello@collegia.co.uk. Once you click on the “Let’s start” button in the email, you will be asked to create a user login and confirm the email address. Immediately after that step, you will be asked whether you want to accept or not the Terms & Conditions of the Collegia Pension. In the latter case, you will be opting out of the scheme.

You can click on Opt-Out and confirm your choice on the following two screens. After that, you will receive an email confirming that you have been opted out.

If you have already accepted the Collegia Individual Terms and Conditions (ie you have already an account with us), you can remove the employer Automatic Enrolment connection by following the instructions in this short video.. In this case, though, you will keep your account and it will not be closed as you have previously accepted the Collegia Individual Terms and Conditions.
.
If for any reason you cannot access your account, click on this link to set up a new password and you will be able to access it again.

If the problem persists, you can contact us at hello@collegia.co.uk or via chat here.


How to stop the contributions If your opt-out period has lapsed

All workers who have become active members of the pension scheme can choose to cease the membership any time after the opt-out period has lapsed and stop future contributions.

If that is your case, you can cease the membership by accessing your account here and then following the step outlined in this short video.. If you do not remember your own password, you can set up a new one here.

The money will remain invested into your pension pot until you’re eligible to access your money. However, this is your own pot and you can do whatever you want with it - you can ask to transfer the money into another pension scheme, or you can ask to transfer in other pots you might have with other pension providers into your Collegia pot. For more information, please send an email to hello@collegia.co.uk


How to opt-out if you have been re-enrolled

According to UK law, employers need to put certain members of staff back into their pension scheme every three years, on a specific date, called the re-enrolment date. It doesn't matter if you opted out even one day before, on the re-enrolment date, you will be re-enrolled into the pension scheme by your employer.

If you have already a Collegia account, you can remove the employer relationship from your own account by following this short video. after logging in into your Collegia account.

If instead a new Collegia account was created, if you wish to opt out you first need to open the welcome email you have received from hello@collegia.co.uk. Once you click on the “Let’s start” button in the email, you will be asked to create a user login and confirm the email address. Immediately after that step, you will be asked whether you want to accept or not the Terms & Conditions of the Collegia Pension. In the latter case, you will be opting out of the scheme.

What you need to know before opting out:

• Your employer cannot ask you or force you to opt-out.

• If you are asked or forced to opt-out, you can tell The Pensions Regulator.

• If you change your mind, you may be able to opt back in – write to your employer if you want to do this.

• If you change your job, your new employer will normally put you back into pension saving straight away.

• If you have another job, your other employer might also put you into pension saving, now or in the future. The notice only allows you to opt-out of pension saving with the employer you name in the notice. A separate notice must be filled out and given to any other employer you work for, if you also wish to opt-out of that employer’s pension saving.

Updated on: 12/04/2024

Was this article helpful?

Share your feedback

Cancel

Thank you!