Focal Points

Control over your investment: You have various investment options on joining the Scheme, allowing you choice over where your money is invested. You also have flexibility to change your investment options throughout your membership of the Scheme in order to suit your needs and anticipated requirements.
Increase your contributions: You are also able to make additional regular and one-off contributions towards your future benefits, provided the Trustee agrees. If you wish to make additional contributions you should complete the Additional Contributions Form and return it to your Employer.
Retirement options: The Normal Retirement Date of the Scheme is your 65th birthday. You may then retire and take your benefits. Alternatively, you may take your benefits at an earlier age (but not before age 55) or later age provided certain conditions are met. The value of your DC Account from the ITB Pension Funds can be used to either buy an annuity, take as cash or transferred to another pension arrangement to take advantage of other options that may be available.
Death in Service Benefits: If you die whilst in Service and whilst an Active Member of the Scheme a lump sum will become payable to your beneficiaries of:
- Minimum of 2 times your Pensionable Salary as at the date of death plus
- an amount equal to the accumulated fund value of your DC Account.
  - However, the lump sum (of 2 times Pensionable Salary) may be restricted.
Transferring the value of your benefits: You may transfer your DC Account to another pension arrangement if you leave the Scheme before retirement, provided you have at least 30 days pensionable service.