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Form SD502 Application to Leave the Nhs Pension Scheme - United Kingdom
What Is Form SD502?
Form SD502, Application to Leave the NHS Pension Scheme , is used when individuals would like to opt out of the United Kingdom National Health Service (NHS) Pension Scheme. The purpose of the document is to give individuals the opportunity to give up their right to receive benefits (pension) from the NHS after they have retired.
Alternate Names:
- NHS Pension Opt-Out Form;
- Pension Opt-Out Form.
The form was last revised on December 1, 2019 . A fillable Pension Opt-Out Form is available for download through the link below.
If the individual wants to opt out of their pension savings, they might be eligible for a refund of their contributions. They can use Form RF12, Application for a Refund of Pension Contributions, to apply for a refund. To find out if they are eligible and how to do it they can visit the official website of the NHS Business Services Authority. Here they can also find information about transferring their pension benefits to another provider (another United Kingdom pension scheme).
Pension Opt-Out Form Instructions
Form SD502 starts with a set of guidelines that contain a wide range of information that can help the individual learn more about the process of opting out of claiming their pension savings. The first part is supposed to be completed and includes the following sections:
- Personal Information. This part requires the applicant to designate their name, title, date of birth, gender, and National Insurance Number.
- Contact Details. The applicant must state their address, postcode, and email address.
- Employment Details. The applicant must use this section of Form SD502 to indicate their job title, the name of their employer, their payroll number, if this is their first job in the NHS, and other details. Additionally, the applicant is required to provide reasons why they decided to leave the scheme. They are offered several options from which they can choose.
- Signature and Date. This part contains several statements that the applicant must read and agree with. To express their consent with everything mentioned above, the applicant must sign and date the form.
After the individual has filled in the first part of the application they must keep a copy of it and send it along with the second part of the application to their employer's Payroll Department. They are supposed to fill in the second part, which consists of several sections, namely:
- General Information. The employer must state the date when the applicant was enrolled. In addition to this, they must indicate whether they have received the application within the opt-out period for a local refund to be paid.
- Employment Details. In this section of the form, the employer is required to provide the applicant's employment details. This includes whether the individual was employed whole time or part-time, the last date of their scheme membership, job capacity code, etc.
When the form is completed, the employer must pass the details to the NHS Pensions. This can be done in one of two ways. If the employer uses Electronic Staff Record (ESR), they can process the details on ESR and retain Form SD502. If the employer does not use ESR, they can send Form SD502 to NHS Pensions at PO Box 2269, Bolton, BL6 9JS.
Download Form SD502 Application to Leave the Nhs Pension Scheme - United Kingdom
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