Current employees

Members with Core Funds who’ve been continuously employed by Oracle since joining the Plan retain a link between the Pensions Underpin and their current Pensionable Pay.

Members may opt-out at any time, which will break the link between the Pensions Underpin and Pensionable Pay. Benefits will be ‘deferred’ after opting-out and the guidance set out under ‘past employees’ explains what this means – the key difference being how the Pensions Underpin will increase each year before retirement.

The Pensions Manager must be notified of any decision to opt-out, which is permanent, so should be considered carefully.