Pension scheme membership usually spans many years, and from time to time your personal circumstances can change.
These changes could be anything from having a baby, to getting divorced, or having a break from employment and it is important to think about the impact these life events can have on your pension benefits. As well as providing for your retirement, alpha also includes benefits for your dependants.
This section of the guide explains how the various life events can affect your pension.
This guide uses as little jargon as possible but where it has to use specific pensions or other technical terms, they have been explained in plain English.
It does not cover every aspect of the scheme. Full details are set out in the regulations, which are the legal basis of alpha.
Nothing in this guide can override the alpha regulations. Every effort has been made to make this guide as accurate as possible, but in the event of any difference, the regulations will apply. This guide is based on the alpha regulations current at the time of publication and there is no guarantee that any part of the regulations will not change in the future.
You should not take anything in this section as financial advice. You might want to consider contacting an Independent Financial Adviser (IFA) to discuss your retirement planning. You can find tips on finding an IFA by visiting the Financial Conduct Authority website: www.fca.org.uk.
This section explains:
03A. Maternity, paternity and adoption leave - How taking time off work after a new arrival affects your pension.
03B. Divorce, dissolution, and annulment - Information on the ways your pension can be impacted during a divorce etc.
03C. Taking time off - Sickness and career breaks and how they affect your alpha pension.
Maternity, paternity and shared parental leave allow a parent to take paid time off work when...