You can reduce your monthly pension payments with 50/50.
50/50 allows you to pay half the contributions and build up half the pension. This way, instead of opting out and saving nothing, you can continue to save for your retirement.
As you are only paying half the contributions, you will only build up half the pension. As such your pension will be lower.
Being in 50/50 doesn't affect the value of any ill health or death in service cover. You would receive exactly the same as you would if you were paying full contributions.
50/50 is designed to be a short term option for when times are financially tough. As such you'll be brought back into the main section where you pay full contributions around every 3 years. You'll be told when this is happening and will have the option to continue with 50/50.
You can move between 50/50 and the main section as often as you wish.
You can't join 50/50 if you are paying Additional Pension Contributions to buy extra pension.
If you have more than one job you can join 50/50 in one, some or all of your jobs.
Want To Join?
If you want to join 50/50 all you need to do is complete and return the Join 50/50 form.