Life events
It’s important to let Willis Towers Watson (WTW) know when your circumstances change so they can update your records. In this section, we cover off what you need to do if you move house (change address); get divorced or set up a Power of Attorney; or what happens if you die while you are a deferred member.
It’s important to let WTW know if you move home, so they can contact you about important developments in the Fund and also to let you know when you can claim your pension.
You can use the Change of address form to update your details or contact WTW.
You can still take your pension from the Fund if you live overseas. Your pension will normally be paid by bank transfer and can be paid to a non-UK bank if you wish.
Your pension will be calculated in Sterling, so if you want it to be paid in local currency, there may be a cost to do this from the bank.
You may also be able to transfer your Roche pension to an overseas approved pension arrangement, provided you have taken advice from a UK registered financial adviser if your transfer value is more than £30,000 where required.
If you hold a Power of Attorney over a deferred member, please send a copy to the team at WTW for their information.
Pensions are taken into account during divorce or civil partnership dissolution settlement discussions.
If you divorce, your solicitor will need to consider any benefits you and your spouse or partner may have, including benefits payable from the Fund.
Please ask your solicitor to contact WTW for the necessary information before a pension sharing or earmarking order is drafted.
If you are a deferred member, a pension will be payable to your surviving spouse (i.e. widow or widower) or civil partner on your death. If you have any dependent children, they may also each receive an allowance.
If your dependant (except in the case of children) is more than ten years younger than you, their pension will be reduced by an amount determined by the Trustee.
If you’re not married, you can nominate someone who is financially dependent or interdependent on you to receive the dependant’s pension. You can do this by completing a Nomination form and returning it to WTW for your records to be updated.
Please note that the Trustee has absolute discretion as to whom pensions should be paid on a member’s death.
You can find out more about benefits on death in the DB Section member booklet.