Leaving Unilever

If you are leaving but not retiring

If you leave Unilever you will stop building up pension in the Fund and you’ll become a ‘deferred member’.

When you’ll hear from us

By law there are some things that we have to tell you about the Fund. So when you leave Unilever we’ll send you newsletters to keep you updated with what’s happening.

Before you leave

Make sure that you check that the details we hold for you on Workday are correct. It’s particularly important to check that we have the right address and a personal email address for you. When you leave you will not be able to access your Unilever email address.

Tell us about any personal changes

We keep some information about you on file so we can stay in touch throughout your life and pay you the right benefits at the right time.

This includes your:

  • Address
  • Email address
  • Bank details
  • Information about any spouses or children

If any of these details have changed recently, please tell us as soon as possible.

Find out how to update your details

Redundancy

Support during redundancy

If you are at risk of redundancy your line manager will tell you and explain the support that is available to you during the consultation period. This may include:

  • Discussions with your line manager or your HR People Partner
  • A webinar with the Unilever Pensions Team

If you are at risk of redundancy and considering retiring we may also offer you a session with the Money Matters team who can guide you through your options.

Pension choices and redundancy

If you are made redundant, or you choose to take voluntary redundancy, you will need to decide if you want to:

  • Retire
  • Keep your pension in the Fund
  • Pay your redundancy lump sum into your pension
  • Transfer your pension out of the Fund

Retiring from the Fund

You can choose to retire if you are 55 or over. This will rise to 57 from 2028.

Find out more about retiring from the Fund

Keeping your pension in the Fund

You can keep your pension in the Fund and become a ‘deferred’ member.

We will generally increase any pension that you built up in the Final Salary Plan and DB Career Average Plan between the date you leave and the date that you choose to retire. We do this to help it keep up with the rising cost of living (inflation).

Read more about how your pension increases after you leave

Any pension savings that you have in the DC Investing Plan will stay invested. You can change your investments after you leave in PlanViewer. You cannot save into your Unilever pension once you have left Unilever.

Paying your redundancy lump sum into your pension

This option is currently available to you if you plan to retire or if you plan to leave your pension in the Fund and become a ‘deferred’ member.

You must tell us if you want to pay your redundancy lump sum into your pension before you leave Unilever. It will not be possible after that.

Transferring your pension out of the Fund

You can choose to transfer your pension out of the Unilever Pension Fund to another pension arrangement (for example a new employer’s scheme or a personal pension plan). You might want to do this to:

  • Make managing your pensions easier by having them all in one place
  • Give yourself more retirement options or flexibility
  • Access different investment options with different fees

When thinking about transferring, you should consider what benefits you are giving up in the Unilever Pension Fund. Before you make any decisions we strongly recommend that you take financial advice.

Read more about transferring your pension

What you need to do next

  1. Contact us for a retirement quote
  2. Get support to make your choices by attending a webinar and speaking to your line manager
  3. Decide what you want to do about your pension
  4. Decide whether you want to pay your redundancy lump sum into your pension
  5. Tell us what you want to do:
    • If you want to retire from the Fund
      Tell us at least 6 weeks before you plan to retire
    • If you want to pay your redundancy lump sum into your pension
      Tell us before you leave Unilever
  6. Check that your personal details on Workday and PlanViewer are up to date, particularly your home address and email address

Retiring

Find out more about planning to retire

Close