This section of the site and the benefits provided are managed by the Company.
Your Deutsche Telekom (UK) Ltd DC Pension Plan makes up an important part of your retirement income.
This is a Master Trust Plan, set up in 2021 with Legal & General (L&G) for all future DC contributions including Money Purchase arrangements (also known as 1% top up) and AVCs. Alongside this, the Trustee transferred the DC benefits already built up in the TMI Scheme to L&G in February 2022.
As a past employee, you’ve stopped contributing to the Scheme but aren’t yet receiving your pension. For more information about the Scheme, how your pension is invested and information on how you can take your benefits at retirement, visit the L&G Master Trust microsite.
You can exchange part of your pension for a tax-free lump sum payment, subject to current regulations. Typically, the maximum amount you can exchange is 25% of the total value of your pension, up to a limit of £268,275.
You have the option to move your pension from the DTUK pension plan to another plan, like a new employer’s pension scheme, as long as it meets the legal requirements for pension transfers.
You might consider this to:
However, keep in mind that another plan might not offer the same benefits as the DTUK plan. We strongly recommend you take financial advice before making any decisions.
For more information visit the L&G Master Trust microsite
You may have paid Additional Voluntary Contributions (AVCs). All DC Benefits are now invested with L&G. Please visit the L&G Master Trust microsite for further information about funds available to you and how you can take your benefits at retirement.
If you’re a member of the DB Scheme when you start drawing your benefits, you may be able to use the funds built up with L&G towards your tax-free cash. Please contact Barnett Waddingham for further information.
Since 1 April 2012, the Company has made ‘Money Purchase’ contributions for employed members of the DB Section whose basic salary (before Salary Sacrifice) is at least £70,000 per annum (at 1 April each calendar year).
These contributions are set at 1% of the member’s basic salary (before Salary Sacrifice) as at 1 April and are paid monthly in arrears for each full calendar month of pensionable service.
As a deferred member, any Money Purchase Top Up contributions you may have remain invested until retirement.
On 3 February 2022 all Money Purchase Top Up Section assets were transferred to L&G Master Trust.
Certain events can impact your Scheme pension, and your circumstances my change over time. For example, if you:
If you’ve had a change in circumstances, visit the L&G Master Trust microsite
To report a death please call or email Barnett Waddingham directly.
Know how to identify, avoid and report a scam.
Let us know if something’s changed. It’s important to keep your details up to date.
You can name and update your nominated beneficiaries by logging into your online account.