Can a member who leaves the scheme take a refund of contributions?

To take a refund of contributions employees must:

• have less than two years' total pensionable service. This includes any service in other memberships with TPT Retirement Solutions and from any previous scheme that has been transferred in.
• not be part of a salary sacrifice scheme.
• not have transferred in benefits from a personal pension plan.

In addition for Defined Contribution (DC) members:

• they must have joined before 1 October 2015 to be eligible for a refund
• DC members joining on or after 1 October 2015 will only receive a refund if they leave the scheme within 30 days of joining.

Refund payable to the member

For Defined Benefit members, this will be a refund of the employee contributions to the scheme (but not the employer’s) plus interest and less deductions including tax.

For Defined Contribution members, this will be the value of the units purchased with the employee contributions (but not their employer's), less deductions including tax.