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Boots Pension Scheme

Exchanging your pension for cash

By now, you should have received a personalised booklet in the post about the option to exchange your pension in the Boots Pension Scheme (BPS) for a cash sum.

​Unfortunately, there has been a delay for some members. This is because of a recent High Court judgment, which means we may need to adjust their benefits, to ensure there is equal treatment between male and female members. We have written to everyone affected by this delay.

For those who aren’t impacted by the above, if you want to exchange your Scheme pension for a one-off, taxable, cash lump sum, the quickest method is to log in to www.boots.pensioncheckout.com to make your choice online.

Your booklet includes an individual activation code (on page 3), that will allow you to log in to this website. If you prefer to complete a paper form, one is enclosed with your booklet for your convenience.

To receive the lump sum payment in the December pay you needed to submit your decision by 12 December 2018. You can still submit your decision to receive it in the January pay.

If you decide that you want to continue to receive a pension from the Boots Pension Scheme, no action is required.

Getting financial advice

It is a complex area, so we recommend you consider taking appropriate financial advice.

You can find a local financial adviser through these websites:

Information on what to think about when appointing an adviser can be found at

It is important that your adviser is regulated by the Financial Conduct Authority (FCA) and is qualified to advise on pensions. You can check on the FCA website at www.fca.org.uk/register

Earlier updates


Opt-out Form

Opt-out Form

Boots Pension Scheme

Complete Online
FCA pension scams leaflet

FCA pension scams leaflet

FCA pension scams leaflet

pdf 591kb