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What's changing?ProposalMaster TrustProposed providerFAQs

Master Trust

The consultation period ended on 11 September 2020. IMI will write to you later this month to confirm the decision.

FAQs were last updated on 20 August

Nothing stands still these days...

We need to rethink how we shop, how we work, even how we relax - and we've been thinking about the IMI pension arrangements too.

With a view to providing you with even better security and more flexibility, IMI, with the support of the Trustee Directors, is considering moving the IMI Retirement Savings Plan (RSP) into a Master Trust arrangement.

This change would enable us to join a market-leading arrangement, which offers you better access to information about your pension and a wider range of options when you retire.

Please note that if the move to a Master Trust goes ahead, your pension contributions would remain the same - as would IMI's. What would change is your pension provider, and this would mean lower costs and more choices for you.

Will the change affect me?

If it goes ahead, the change will affect you if:

you're a member of the RSP
or
you're an employee who is eligible to join the RSP
or
you're a deferred member of the RSP

If it goes ahead, the change will NOT affect you if:

You are currently receiving a defined benefit (DB) pension from the IMI Pension Fund.
Your pension would not be affected if the proposed change were to go ahead. You would continue to receive your pension as normal.
You have built up a defined benefit (DB) pension in the IMI Pension Fund.
Your DB pension is linked to your length of service and your salary during your career with IMI. This pension would not be affected if the proposed changes were to go ahead. Your DB pension would remain deferred in the IMI Pension Fund until you chose to take it.

On this website you can:

Read more detail about the proposal

Find out what a Master Trust is

Learn more about the proposed provider

Read answers to frequently asked questions

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