How you do this depends on whether you’re still within your one-month opt-out window.
How do I opt out?
When your employer enrols you into a Penfold pension, we’ll send you a welcome email.
This email includes a section called “How do I opt out of my workplace pension?” Follow the instructions in this section to opt out.
To receive a refund of contributions already deducted from your pay, you need to opt out within one month of being enrolled.
How long do I have to opt out?
You have one month from the date you’re enrolled to opt out.
For example:
Enrolled: August 7th
Last day to opt out: September 6th
If you opt out within this period:
you’ll stop contributing to the pension
you’ll be eligible for a refund of contributions already deducted from your pay
your employer will process your refund
What if my one-month opt-out window has passed?
Once your one-month opt-out window has passed, you can no longer opt out of that enrolment or receive a refund of contributions already made.
You can still ask to stop future pension contributions.
Contact your employer directly and ask them to stop your future contributions.
Important exception for Deel and JMK employees
If you’re employed through Deel or JMK, contact Penfold directly to stop your future contributions.
Please make sure that you're aware of the consequences of opting out or leaving your workplace pension scheme before you choose to do so.