Opting out of the DC Plan
If you no longer want to be a member of the DC Plan you should consider the following before opting out:
You will not build up pension benefits for the future with Vodafone
This means that you will need to make alternative arrangements to save for your retirement.
You will miss out on Vodafone's matched contributions
Vodafone will not make contributions to any other pension arrangement. If you want provide the same level of benefits under an individual pension policy, you would have to contribute a lot more than you currently do in the DC Plan.
You will miss out on other valuable benefits
As a member of the DC Plan you are also eligible for income protection cover. If you opt out you may need to consider finding additional cover for this. As long as you are employed by the Company, you will still be eligible for life cover.
You may be put back into the DC Plan in the future
Under government legislation, every three years, Vodafone will automatically re-enrol all employees who have opted out of the Plan. You will receive further information before this happens and will have the option to opt out again.
If you are still considering leaving the DC Plan then you can do this through My Choices, if you wish to discuss the options you would have upon opting out of the Plan you should contact Vodafone Pensions using the details below.