Being a deferred member

As you are no longer paying into the Plan, you are a deferred member and are unable to make any further contributions into your pension pot.

Your pension pot will stay invested in the same investment funds you were invested in when you left the Plan, although you can still change where it is invested.

Here you will find information and guidance on a variety of topics.

Keep up to date with the latest news from the Plan.

Being a deferred member

As you are no longer paying into the Plan, you are a deferred member and are unable to make any further contributions into your pension pot.

Your pension pot will stay invested in the same investment funds you were invested in when you left the Plan, although you can still change where it is invested. Here you will find information and guidance on a variety of topics.

Your TfL pension pot in deferment

You can easily keep an eye on your Pension Pot by registering and logging on to the secure online portal, Money4Life

On the portal you can quickly and easily check the value of your pension pot, as well as changing where your funds are invested. The portal is available 24 hours a day and accessible by mobile, desktop and tablet, meaning you can check on your pension pot whenever and wherever you want.

You will also receive an annual update on how your pension pot is performing. This will be sent to your home address, or directly to your email if you have chosen to receive electronic communications.

You can see all the funds available and the latest fund prices, factsheets and fund breakdown here

If you decide that you would like to move your pension pot to another approved pension arrangement, you can ask the Plan administrators for transfer information. There may be instances where a transfer cannot go ahead but the administrators will let you know if this is the case.

Any transfer will comply with the latest transfer regulations and every precaution will be made to protect your pension pot from potential scams.

For a transfer quotation contact the TfL Pension Plan administrators Scottish Widows using the contact details at the bottom of this page.

On your death, there may be benefits payable to your dependants.

You can find out more details about what happens to your pension pot when you die, here

Keeping the Plan informed

It is essential that you keep your personal records up-to-date so you can receive regular statements and important information. Updating your details online is quick and easy to do. Simply follow the link below to access Money4Life, which will where you can update your records instantly.

If you don’t have access to Money4Life, you can contact Scottish Widows, the Plan administrators. to update your records.

A life event is an important event in your life, such as marriage, divorce, or moving home. If you have an event that changes your personal details, make sure you update your personal records with the Plan administrator. It’s important to keep the administrators Scottish Widows updated with any changes so the Plan can keep in contact with you about your pension account and the benefits available. 

For Scottish Widows contact details, use the link or the details at the bottom of this page.

If you are getting divorced, you may need a transfer value quotation from the administrators, Scottish Widows

You can find their details using the link above, or at the bottom of this page.

If you are getting married or entering a civil partnership, you should inform Scottish Widows, the Plan administrator. Updating your details will help the Plan pay any potential death benefits to your spouse/partner more efficiently. You can update your details online or by post

If you are changing your name, you may need to provide a copy of your marriage/civil partnership certificate.

If you are moving home and want to update your address details, you will need to update your address with the Plan administrator, Scottish Widows

If you need to inform the Plan about the death of a member, click here for contact details and information on how you can register a death with the Plan 

Planning for retirement

As the time gets closer you may want to start thinking about the lifestyle you want to live in retirement.

Click here for some help in planning your retirement and what you should be thinking about as you get closer to taking your benefits

You can also follow this timeline to help you plan for your retirement

You have different options available at retirement, so you can use your pension pot in a way that suits you and your future lifestyle.

Find out about your options at retirement

Please note that not all the options shown are available to members of the Plan. To access some of the options you may have to transfer your pension pot to another pension arrangement. The options available to you from the Plan will be explained to you when you receive your retirement quotation.

Use this chart to compare your pension options

Calculate and compare your options with the Pensions options calculator

Find out about your State Pension options 

After retirement - When you retire your benefits will no longer be within the Plan.

You may find that you need a little help in budgeting and managing your finances in retirement. You can use this booklet to help you with all you need to know about managing your money after you retire 

You can also find out more information about the State Pension by clicking here

If you are moving home, you will need to contact your pension provider to update your address.

You will need to contact the pension provider directly to report the death of a pensioner.    

If you are receiving pension benefits and are getting married or entering a civil partnership, you should your pension provider directly. 

If you are changing your name, you may need to provide a copy of your marriage/civil partnership certificate.

The Plan’s Administrator is Scottish Widows and you can
contact them for help with your benefits