You are only eligible for a refund of your pension contributions if you opt out of the scheme within your designated 'opt-out window'. During this period, contributions are withheld from your pay but are not immediately added to your pension pot. These contributions are held temporarily and processed only after the opt-out window ends.
Handling Contributions During the Opt-Out Window
During the opt-out window, which is the period immediately following your enrollment in a pension scheme, contributions are withheld from your pay but are not immediately added to your pension pot. These contributions are held temporarily and processed only after the opt-out window ends. Once processed, they will appear in your pension pot following the standard processing timelines.
If You Opted Out Within Your Opt-Out Window:
If your opt-out was processed while you were still within your one-time opt-out window, your employer is responsible for processing a refund of any contributions paid into Jarvis. Employers typically process these refunds within one month of your opt-out confirmation. During this time, contributions are held temporarily and are not immediately added to your pension pot, ensuring they can be refunded promptly if the opt-out is confirmed.
If You Opted Out Outside Your Opt-Out Window:
If you opt out after your initial opt-out window has closed, your contributions cannot be directly refunded to you.
The money you have contributed will remain invested in your Jarvis pension plan until you reach retirement age, or until you choose to transfer it to another pension provider.
Who Handles Refunds?
Jarvis does not handle refunds directly. For all questions regarding the processing of your refund, or to confirm your opt-out window status, please contact your employer's HR or payroll department.