SPS Sainsbury's Section

Hello and welcome to our video suite.

We’ve created these bite-size videos to help you understand your Sainsbury’s pension and the options you have for taking it.

If you’re thinking about retiring soon, you can ask the Scheme administrator for a retirement pack. Our first video takes you through the information you’ll see in your pack and the forms you’ll need to fill in.

You might have the option to exchange future pension increases for a higher starting pension (known as PIE), or to transfer your pension out of the Scheme if you want to access it more flexibly. If you’re thinking about transferring your pension out of the Sainsbury’s Pension scheme, it’s important to learn a little more so that you make an informed decision about what to do next. Most people are better off staying in a defined benefit pension rather than transferring out, but in some cases a transfer out can be the right option for some people. The video ‘Should I stay or should I go?’ takes you through the pros and cons of each.

It’s a big decision whatever you decide, so the Trustee has appointed LV= to support you when making a decision about your pension. If you want to discuss the PIE option specifically, the Trustee will provide a paid-for advice session with the experts at LV=, or otherwise a competitive, fixed-rate advice fee for general retirement advice.