Your transfer > Your transfer timeline > Things to consider
Things to consider
Although the transfer of your pension pot from the DC Section to the L&G Mastertrust will happen automatically, there are still some choices that you will need to make.
Here we’ve outlined some important things that you might like to think about.
Things to consider
Although the transfer of your pension pot from the DC section to the L&G Mastertrust will happen automatically, there are still some choices that you will need to make.
Here we’ve outlined some important things that you might like to think about.
Have you thought about when you will want to start to use your pension pot?
Getting this right is important if your pension pot is invested in one of the investment strategies that automatically move your investments over time as you approach retirement, as it helps to make sure that your investments switch into funds that aim for lower risk at the right time. It’s also important so that L&G can send you the right information, at the right time to help you plan for retirement.
You can let L&G know when you think you might want to start to use your pension pot by updating your Selected Retirement Date through your L&G pension account, My Account (MA).
Your Selected Retirement Date in the DC Section will transfer over to the L&G Mastertrust on 23 August 2025. If you haven’t chosen a Selected Retirement Date in the DC Section, it would automatically be set to age 65 – but you can change that at any time before or after your pension pot transfers. And, if your plans change in the future, you should update your Selected Retirement Date.
Do you know how you might want to use your pension pot in retirement?
You might be getting close to starting to use your pension pot, or you might be a little way off. Either way it’s good to start to think about how you might want to use your pension pot when the time is right. Some of the investment options in the L&G Mastertrust target a particular way of using your pot, so making sure your investment choice aligns with how you want to use your pot is important.
Have you set up your L&G pension account?
You can check how your pension pot is doing, and make changes to your information, at any time by logging into your L&G pension account, My Account (MA).
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If you’re already registered, you can log into your online account using your user ID and password.
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If you haven’t registered, it’s quick to do. Just follow these three steps:
1. Visit My Account (MA).
2. Complete your personal details. You’ll need your account number, which is shown on any letters you’ve been sent by L&G, and on the letter that we sent to you on 23 July 2025.
3. L&G will then send you an email which will contain an activation link to complete your registration.
If you have problems with your account...
Email: employerdedicatedteam@landg.com
Call L&G’s helpline on: 0345 070 8686
Phone lines are open between 8.30am and 7pm Monday to Friday.
Have you explored your new investment choices?
As you’re no longer paying into your Sibelco pension, how your investments perform can have a big impact on how much you’ll have saved at retirement.
For some of you who are further away from retirement you might be looking for more growth, but that comes with more risks that the value of your pension pot could go up or down. For some of you who are closer to retirement, you might be comfortable with less growth and looking for more stability in the value of your pension pot so there are less surprises with what you have when you come to use it.
So, taking time to consider what the best investment choice is for your circumstances, based on how you want to balance risk and reward, is important. Explore the different options for investing your pension pot in the L&G Mastertrust now.
Do you need to complete a new nomination of beneficiary form?
If you’ve already completed a ‘nomination of beneficiary’ form via My Account (MA) in the DC Section, then your wishes will transfer across to the L&G Mastertrust.
The L&G Mastertrust Trustees will use this information to help them decide who would receive the value of your pension pot if you were to die and still had money invested.
Now is a good time to check and update your nomination of beneficiaries, to make sure your wishes are up to date
You can do this before, or after your transfer to the L&G Mastertrust on 23 August, by logging into My Account (MA).
Or, if you would prefer to complete a paper form, you can download and complete a new ‘Nominate your beneficiary’ form for the L&G Mastertrust after your pension pot has transferred (from 23 August), and then either:
- email it to the email address shown on the form, or
- send a printed copy to the postal address shown at the end of the form.
Do you need some guidance or advice?
If you’re looking for more help to decide how or when to take your pension pot, then you might like to consider getting some free guidance or paying for financial advice.
Get free guidance through Pension Wise
Guidance is usually not tailored to your circumstances. It will help you assess your options and ask the right questions, but there’s no recommended outcome at the end. It’s also usually free, so can be a good option to help set you on the right path.
As the DC Section gives you a pot of money that you can use flexibly you could use the free Pension Wise service, which is part of MoneyHelper and backed by the Government, to help you decide what’s right for you.
If you’re aged 50 or over, you can book an appointment with one of Pension Wise’s experts to help you better understand the options you have to take your pension pot.
It’s worth noting that Pension Wise will not be able to help you explore your pension that you’ve built up in the DB Section of the Scheme – as this provides a yearly pension or income for life (rather than a cash amount that you can use flexibly).
Pay for independent financial advice
Advice will usually end in a recommended approach for you to take. Working with an adviser means sharing your financial information and your goals for the future and will result in expert advice on which outcome is best for you. This option usually has a fee for the adviser's time and expertise, although often your first meeting will be free or heavily discounted, to see if working with an adviser is right for you.
MoneyHelper’s directory is designed to help you find a regulated and impartial financial adviser of your choice.
All advisers are regulated by the Financial Conduct Authority, the organisation that sets the UK’s financial rules, and able to recommend products from a wide range of providers, making it easier to find the right one for you.
Remember, financial advisers charge a fee for their service. So, make sure you understand how you’ll be charged before you go ahead.
