On 1 January 2021 the United Kingdom will leave the European Union (EU). We would like to reassure our members who currently reside in the EU, European Economic Area (EEA) or Switzerland that we will continue to pay your pensions after the transition period ends even in the event of a no deal Brexit. You can read more here.
What this means for you
Members who receive their pension in to an international bank account won’t need to take any further action. Those who live in the EU, EEA or Switzerland and get their pension paid in to a UK bank account may have been contacted by their bank informing them that it will be closed at the end of the transition period. If that is the case, please contact us as soon as possible to update your banking details to a local bank account in your country of residence. You can read more here.
Our contact details can be found in the 'contact us' section of our website.
Frequently Asked Questions:
Will my pension be affected once the transition period ends?
No. Your pension payments will be unaffected after the transition period ends.
My pension is paid into a UK bank account, will this affect me?
A number of banks operating in the UK are set to close accounts held by people living in the EU after 31 December 2020, in some cases this depends on the European country you currently reside in. If you are affected, your bank should contact you before the transition period ends.
My bank has closed my UK bank account, how do I update my bank details?
Please contact us as soon as possible and we will arrange for the appropriate form to be issued. Alternatively, you can find the appropriate form here and send to us by email or by post (please select form for your resident country).
Published 17 December 2020