As a Deferred Member of the ITB Pension Funds you are unable to accrue any further Pensionable Service in the Scheme or pay Additional Voluntary Contributions (AVCs) to one of the Scheme sponsored arrangements.

However, if you did pay into one of the ITB Pension Funds’ AVC arrangements you still retain the option to switch your AVC investment between the funds provided under the current AVC Provider: Legal & General. Please note if you currently have an investment in the Prudential With-Profits fund and you choose to switch this investment to a Legal and General fund, you will not be able to re-invest in the With Profits fund in the future.

If you would like to switch your current AVC investment with Prudential to Legal & General please contact the Funds’ Office for instructions (see Contact page).

What you do with your pension is an important decision. Therefore, we strongly recommend that you fully understand the options available to you.  You may wish to speak to a financial adviser.  A list of Financial Advisers, can be found on the IFA Promotions website: www.unbiased.co.uk 

If you are still unsure alternatively,The Money and Pensions Service, the Government's new financial guidance service, providing a free impartial service to help you understand your options at retirement. You will be able to access the service online, over the telephone and face to face. Further details are now available at www.gov.uk/pensionwise.

Please note that ITB Fund staff members are not permitted to give you financial advice.