CHOOSE YOUR SCHEME

Welcome to the new look website, for members of a Lloyds Banking Group pension scheme.

If you joined the Group after 1 July 2010, you'll be a member of Your Tomorrow.

NOT YET A MEMBER?

If you’re an employee of Lloyds Banking Group and not a member of one of our pension schemes, it’s not too late to join, as long as you’re eligible.

IF YOU JOINED THE GROUP ON OR AFTER 1 JULY 2010

You’ll be automatically enrolled in Your Tomorrow on the day you join the Group. If you’re not yet a member, see joining.

IF YOU JOINED THE GROUP BEFORE 1 JULY 2010

HBOS colleaguesIf you were previously a member of the HBOS Group Money Purchase Scheme, or had the right to join, you became eligible to join Your Tomorrow from 1 February 2011.

Lloyds Bank colleaguesIf you were previously a member of a Lloyds Bank Pension Investment Plan (PIP), or had the right to join, you became eligible to join Your Tomorrow from: 1 August 2011 for non-Asset Finance and non-Commercial Finance colleagues 1 September 2011 for Asset Finance and Commercial Finance colleagues go to joining to find out more.

To view information about your benefits Log into YOUR PENSION
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Transfers out

If you leave the Scheme but don’t want to leave your benefits with us as a deferred pension, you may be able to transfer your pension savings to another scheme. If you decide to do this, we’ll calculate how much your pension is worth. This is your transfer value, which will be paid over to your new pension provider.

The basis for the calculation has been agreed by the Trustees following consultation with the Scheme Actuary. If your Scheme provides discretionary increases, please note that this wouldn't be included in the transfer value.

It’s important to check the benefits your new provider will give you, as they won’t be the same as the benefits you currently have in the Scheme.

If you’re thinking of transferring your pension savings under the Scheme to a new arrangement, we'd recommend that you take independent financial advice. In any case, this is something you’d be required to do where the cash equivalent value of the pension is worth more than £30,000.

If you’d like more details, please contact your Scheme administrator.

Pension scams

Pension scams are an ever-growing problem for savers. Scammers will often contact you out of the blue with offers to 'liberate' your savings by transferring them into another scheme that allows you to access your money ahead of the earliest possible retirement age, which is 55 for most people.

If you're contacted by one of these scammers, it's important that you don't give them any authorisation to transfer your benefits. Not only will you lose your money, but you may also end up with a hefty tax bill.

Find out more in Pensions talk or in The Pensions Regulator's booklet Scammed out of his retirement.