There may not be one particular reason why you’re thinking of leaving.
If that’s the case for you, remember you’re not just building a pension. You could also be covered if you have to stop working because of ill health. And with life cover, you have peace of mind knowing your loved ones will be taken care of when you die.
If you’re still paying in, you could get an enhanced incapacity pension (what you’ve built up already, plus what you would have built up if you’d carried on working until the Normal Pension Age). But once you leave, if you have to retire because of ill health, you’ll only get the pension you’ve built up (without any enhancements). You’ll only get this if you can’t work at all (not if you can do another role).
Also, if you die once you’ve already left, the pension that your spouse or child would be entitled to won’t be enhanced. And their lump sum will be based on three times the pension you’ve built up, rather than three times your salary.
And remember, it’s not just your own contributions that’ll stop, you’ll miss out on contributions from your employer too. So it’s important to think carefully before making a decision.
To see what else you could be missing out on, take a look at what you’ll get as a member.