How to join

Joining the DC Section of the Lloyd's Register Superannuation Fund Association (LRSFA) is easy. If you qualify, we'll enrol you automatically into the DC Section from your first day with Lloyd's Register.

Automatic enrolment

If you meet certain criteria, your employer must now automatically enrol you into their workplace pension scheme by law.

We'll automatically enrol you into the LRSFA if you're:

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

We'll start you off with some 'default' choices:

• You contribute 3% (via salary exchange)
• Lloyd's Register pays 10%
• Your account is invested in the Flexible Retirement Strategy

There will be a waiting period of 2-3 weeks before you can change these default choices, after which you will be able to change your contribution rate or your investment choices whenever you want.

To make changes, you can access Lifelens from Connect on your work computer. If you're outside the LR network, you can register for access at standardlife.co.uk/online — all you'll need is a few personal details and your Plan number.

Opting out of the DC Section

If the time isn't right for you to start saving for your retirement, you can opt out of the DC Section once you've been auto-enrolled. If you opt out within 30 days of your membership starting, you can simply call Standard Life on 0345 272 8837.

If you decide to opt out after 30 days, you can download an Opt-out form through Lifelens or email Group Pensions on group.pensions@lr.org

Re-enrolment

Once you've opted out of the DC Section, you can re-join at any time by contacting the Group Pensions Department — you don't have to wait to be re-enrolled. Please note that you may have to wait if you ask to re-join the DC Section within 12 months of opting out.

If you have decided to opt out in the past and you still work for Lloyd's Register, we'll re-enrol you into the DC Section. This normally happens around three years after you opted out, but this may vary. Group Pensions will always contact you if you're about to be re-enrolled.

Transfers into the LRSFA

By the time you retire, it's likely you'll have built up benefits in more than one workplace pension arrangement. You might find it easier to keep track of them if you transfer any other Defined Contribution accounts you have into the LRSFA with the Trustee's permission. This is called consolidation.

We don't currently accept transfers of other types of pension (for example, Defined Benefit accounts) into the LRSFA.

Find out more about consolidating your pensions at MoneyHelper.

For more information about transfers into the LRSFA, contact Standard Life.

Temporary absence

If you're away from work because you're pregnant, on maternity, paternity, or shared parental leave while you're contributing to the DC Section as an active member, your pensionable service will still continue.