Augmenting your HP Plan pension using your redundancy payment
You will receive a “Redundancy Augmentation request” form with your Guide to Redundancy. If you wish to consider this option, complete the form and return it to HR.
HR will forward this form to the Administration Team. Please note, your redundancy payment will be delayed until you confirm whether or not you are going to go ahead with the augmentation.
The Administration Team will then send you quotations with and without the augmentation for your comparison, together with some additional important information and a “Confirmation of Augmentation” form.
If you would like to proceed, please complete the “Confirmation of Augmentation” form and return it to the Administration Team. (Deferred Member will also need to complete “Utilising Severance Option Form”)
HR will advise Payroll to send us the augmentation amount, when they advise them of your final pay details.
Upon receipt of this payment, the Administration Team will process you as a leaver, or pay your retirement benefits if applicable.