As part of a pension benefits review, and following employee consultation, the Company will be implementing a new pension arrangement with LifeSight.
The trustees of the Scheme have agreed to transfer all the existing DC Section savings held with the current pension administrator Railpen, on the Aegon investment platform, to LifeSight.
The trustees will be writing to you with details about the transfer process to LifeSight.
Blackout period
There will be a ‘blackout period’ for approximately 10 weeks from 23rd September 2023. From 23rd September 2023 you will not be able to access your online account at https://enwl.myesps.co.uk/
During the blackout period, you will not be able to make changes to your investments, transfer to another pension arrangement or put retirement benefits into payment from Railpen.
Once the transfer has been completed and the blackout period is lifted, you will be able to make changes to your investments, transfer to another pension arrangement or put retirement benefits into payment from LifeSight.
Timeline
| Item | Date |
The last date to request investment changes and submit forms/documents to Railpen
This includes transfer requests and putting retirement benefits into payment | 22nd September 2023 |
| Blackout period commences | 23rd September 2023 |
Blackout period ends
Once the transfer to LifeSight has completed your new online account will be open and you will be able to make investment changes and request quotes
| Early December 2023 |
All members will receive a welcome pack from LifeSight which will include how to register for your new online account.
Things to consider
You can login to https://enwl.myesps.co.uk/ until 22nd September 2023 to view your account.
To request changes to your investments, once you’ve logged in, go to the Change fund choices menu at the top, select Change investments and follow the instructions on-screen.
If you don’t have a login, click Register. You will need your pension reference number that starts with ‘ENW’ (which you will find on your annual benefit statement) and your National Insurance number.
You can request a transfer or retirement quote from Railpen by contacting them on:
The deadline for Railpen to have received all investment change requests/required paperwork to complete a transfer, or put retirement benefits into payment, is 22nd September 2023. If Railpen do not receive the required paperwork by 22nd September 2023, your request will not be actioned by Railpen.
Once the transfer has completed and the blackout period is lifted, you will be able to make changes to your investments, transfer to another pension arrangement or put retirement benefits into payment from LifeSight.
For further information
If you have any queries about the move to LifeSight, please contact the ENWL pensions team on:
Please note that the trustees, the Company and LifeSight cannot give you financial advice. You should take advice from a financial adviser if you are unsure about your options. For help with choosing a financial adviser in your area, please visit
moneyhelper.org.uk or unbiased.co.uk.