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How to join

Joining the DC Section is easy – all employees are automatically enrolled into the DC Section from the first day of employment with Lloyd’s Register.

Auto enrolment

As a result of Government rules, employers must now automatically enter workers who meet certain criteria into a workplace pension scheme.

You are likely to be affected by automatic enrolment if you're:

  • aged 22 or over;
  • under State Pension age; and
  • are paid more than £10,000 a year before tax (that's £833.33 a month).

When you are automatically enrolled into the DC Section, we start you off with some 'default' choices:

You can choose to opt out of the DC Section if you wish. Within 30 days of joining you can do so by phone with Standard Life on 0345 272 8837. After 30 days, you can get a form through Lifelens or contact Group Pensions on group.pensions@lr.org.

Re-enrolment

If you've opted out of the scheme but want to re-join you are normally able to re-join the DC Section at any time by contacting the Group Pensions Department - you don’t have to wait to be re-enrolled.

However, please note that Lloyd's Register can decide not to let you re-join immediately if you choose to opt out but request to re-join within 12 months.

If you have decided to opt out in the past and have continued to be a Lloyd’s Register employee, you will automatically be re-enrolled back into the DC Section at some point in the future. This is usually after three years, though this may vary depending on your personal circumstances. Group Pensions will always contact you if you are affected by this.

Transfers in to the LRSFA

If you have earned defined contribution benefits in another pension scheme, you may be able to transfer these into the LRSFA if the Trustee agrees. The LRSFA does not currently accept transfers of other types of pension (such as Defined Benefit pensions). For more information about transfers, contact Standard Life.

Temporary absence

If you are absent from work due to pregnancy, maternity leave or confinement while you’re contributing to the DC Section an active member, your pensionable service will still continue.