NatWest Group Pension Fund
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What the Fund gives you

As a member of the NatWest Group Pension Fund, you’ll be paid a pension income when you take your pension. This section explains more about this income, and how you can choose to swap some of it for a tax-free cash lump sum.

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  • Your pension record Useful documents
  • active member home
  • What the Fund gives you
    • Lifetime income
    • Pensions for your dependants
  • Building up benefits
    • The maths of your main benefits
    • How to give yourself more money
    • Annual and Lifetime Allowances
  • Life events
    • What happens to my Fund benefits if I get divorced
    • How to opt out of the Fund
    • What happens to my money when I die?
    • Can I transfer just part of my benefits out of the Fund?
  • Taking benefits
    • When you can take benefits
    • Taking benefits as income
    • Taking benefits as cash
    • Transferring out
      • 10 things to think about before transferring out
    • Taking your extra contributions (APeCs)
    • Tax on your benefits
    • What happens to your money when you die
  • Opting out of the Fund
    • Leaving or transferring your benefits
    • How your pay is affected
    • How your pension income is affected
    • How to opt out
  • Help
    • Get advice from an IFA
    • How to spot a pension scam
    • How your Trustees help you
      • Meet your Trustees
    • Get in touch with us
    • Jargon Buster
    • Video Hub
  • What the Fund gives you
    • Lifetime income
    • Pensions for your dependants
  • Building up benefits
    • The maths of your main benefits
    • How to give yourself more money
    • Annual and Lifetime Allowances
  • Life events
    • What happens to my Fund benefits if I get divorced
    • How to opt out of the Fund
    • What happens to my money when I die?
    • Can I transfer just part of my benefits out of the Fund?
  • Taking benefits
    • When you can take benefits
    • Taking benefits as income
    • Taking benefits as cash
    • Transferring out
    • Taking your extra contributions (APeCs)
    • Tax on your benefits
    • What happens to your money when you die
  • Opting out of the Fund
    • Leaving or transferring your benefits
    • How your pay is affected
    • How your pension income is affected
    • How to opt out
  • Help
    • Get advice from an IFA
    • How to spot a pension scam
    • How your Trustees help you
    • Get in touch with us
    • Jargon Buster
    • Video Hub
  • Cookie policy
  • Privacy notice
  • Accessibility

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COVID-19 notice

The Trustee of the NatWest Group Pension Fund is aware that The Pensions Regulator has introduced emergency measures to allow defined benefit schemes to suspend transfer value quotations and payments for three months to help manage the consequences of COVID-19.

The Trustee does not intend to introduce any restrictions or delays at this time, but this will remain under review.

It is however exceptionally important that if you are considering transferring out your benefits that you take independent financial advice. The Trustee may require written confirmation and seek appropriate authorisations from your financial adviser before processing any request to transfer out as this is an irreversible decision. In fact, current UK Law requires the Trustee to obtain this confirmation if your transfer value exceeds £30,000.

If you are thinking about transferring your benefits out of the Fund, you can find ten things you should consider first here. You can also watch several short videos about transferring out in our Video Hub.

Also please be extremely vigilant about potential pension scams.

We are seeing a rise in scam levels so you should never provide information about your Fund benefits or agree to take any action on these unless you have received advice from an authorised independent financial adviser. You can find out more about how to spot a pension scam here. You can also watch a short video about pension scams in our Video Hub.