Re-enrolment 2025 FAQs
Re-enrolment is the process of automatically re-enrolling employees back into their workplace pension scheme every three years. This is a legal requirement for employers in the UK, designed to give employees another chance to save for retirement if they previously opted out.
Yes, employees can opt out of the pension scheme within 30 days of being re-enrolled and receive a full refund. However, for employees who leave the pension scheme after 30 days, the monies will remain in the pension scheme.
No – you will no longer be eligible for Death in Service cover. Only employees who are in the pension scheme will receive Death in Service cover.
Yes, but you will need to contact our pensions administrator, Aegon. Aegon are the pensions provider for the First Bus Retirement Savings Plan (FBRSP). Most First Bus employees are in the FBRSP.
You can contact Aegon by telephone on 01733 353 496 or by email at my.pension@aegon.co.uk.
Yes, you can increase your pension contributions by contacting our pensions administrator, Aegon. Aegon are the pensions provider for the First Bus Retirement Savings Plan (FBRSP). Most First Bus employees are in the FBRSP.
You can contact Aegon by telephone on 01733 353 496 or by email at my.pension@aegon.co.uk.
For employees in the First Bus Retirement Savings Plan, you can register online with TargetPlan at www.aegon.co.uk/targetplan. Once you have activated your online account, you will be able to see the value of your pension at any time.
If you encounter any issues, or if you would prefer to speak to a call handler to obtain your pension value on the telephone, please contact Aegon by telephone on 01733 353 496. Alternatively, you can contact Aegon by email at my.pension@aegon.co.uk.
At the time of writing, the earliest you can access your pension is age 55. However, the age will increase to 57 on 6 April 2028.
Yes, the First Bus Retirement Savings Plan is separate to the State Pension.
You can select your retirement age from the First Bus Retirement Savings Plan, however the current State Pension age is 66. For further information for when you will receive your State Pension, and for how much you’ll get, please visit www.gov.uk/state-pension-age.
You can visit the www.firstgrouppensions.co.uk website and/or email the First Bus Pensions Team at pensions@firstbus.co.uk.