If you would like to stop your Added Years contract early, you should write to us giving a brief explanation why. We will consider the request sympathetically and inform both yourself and the related employer of the decision. The date this will be effective from is normally the date we received the letter or the end of the monthly pay period. If the effective date is different this will be included in the letter to you and your employer.
The address to write to is:
PO Box 2269
Reasons for stopping the contract might include:
- increase in the standard employee (member) contribution to the Scheme
- reduction to the standard Lifetime Allowance (LTA)
- reduction to the Annual Allowance (AA)
- reduced pay (for example loss of on call or other non-standard payments, redeployment)
- Practitioners - reduced earnings (for example buying into a partnership, investment in buildings / equipment)
- changes in household finances (for example mortgage or rent increase, loss of employment, reduced hours, pay cut, supporting child at university)
- changes in personal circumstances (for example marital status, birth of a child, death of a family member).
Once an Added Years contract has been stopped it cannot be reinstated.