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
MobileNav

Pensions talk

Auto enrolment

Under auto enrolment legislation, the Group must enrol all eligible jobholders into a workplace pension scheme.

If you're already an active member of one of the Group's pension schemes this change in legislation will have no effect on your membership. All the Group’s schemes meet or exceed the government’s new standards for workplace pensions.

If you're not currently an active member of one of the Group's Schemes, or if you opt out of your current Scheme while you're still employed by the Group and you are an eligible jobholder, we may have to enrol you into Your Tomorrow.

If you don’t currently meet the criteria but your circumstances change in the future, we'll automatically enrol you into Your Tomorrow in the month this happens. We'll also write to tell you if you've been automatically enrolled and you'll have the chance to opt out if you wish.

For more information, please visit auto enrolment.

Online security

You may be aware that organisations and individuals are increasingly being targeted by cyber criminals. As we move more communications online, we've built protective security measures into Your Pension and the email registration system.

There are some important basic principles you should follow to protect yourself from a cyber attack. The following simple steps will help protect you online:

Check any emails you receive are from us – emails from us will either come from ​lloyds1and2@lloydsbankinggrouppensions.com or

If you contact us, we might request your National Insurance number, address and/or date of birth to confirm your identity. We’ll never ask for your bank details.
 

Viruses can be introduced into computers via emails that contain harmful attachments or links. Don’t click on embedded attachments or links within emails unless you know the email has been sent from a reliable source like the Trustee or Scheme administrator email addresses listed above.
 

When browsing the Web, only visit sites that you know and trust. Take particular care when clicking on search results and links, and when entering the website address (known as a URL). Cyber criminals often register website addresses that are similar to genuine ones in the hope of catching people out.
 

We'll never ask you to download anti-virus software from our pensions websites.
 

For more information, visit www.lloydsbank.com/help-guidance/security/what-can-you-do.asp

Pension scams

The Pensions Regulator, Financial Conduct Authority and HMRC are warning against pension offers that claim to be able to provide loans or release tax free cash from your pension fund before you reach age 55.

The authorities have recently detected an increase in bogus schemes and are urging people not to be taken in by website promotions, cold calls or adverts encouraging you to transfer existing pension rights to a new arrangement in order to access a cash payment or loan. Such schemes usually work by transferring your pension fund into risky or opaque investment structures, often based overseas, with no guarantee that you'll get your money back if something goes wrong.

The benefits payable to you on retirement or to your dependants could be reduced if you take up any form of pension scam offer. By accessing pension savings earlier than the law permits, you’re likely to be poorer in retirement and could face substantial tax charges. As ever, if the offer sounds too good to be true, it probably is!

Visit The Pension Regulator for more information.

The Trustee can't offer advice on any potential transfer but would recommend that you contact a financial adviser before transferring any of your pension savings out of the Scheme. Visit unbiased.co.uk to find a financial adviser in your area.

Contracting out

Following the changes to the State Pension from 6 April 2016, the Group's Defined Benefit (DB) pension schemes are no longer contracted out of the State Second Pension (S2P).

This means that from this date, National Insurance contributions for members of these DB schemes rose by 1.4% of band earnings per month.

The Group's National Insurance bill also increased by 3.4% of the band earnings for these members.

For more information on these changes, please see Changes to State Pension and contracting out.