JOINED FROM 1 APRIL 2018
MRC is one of an increasingly small number of organisations that still gives its employees the opportunity to belong to a defined benefit pension scheme.
This means that the Scheme gives you a pension based on service and your pensionable salary when you retire. Even if your retirement is a number of years away, you should have a reasonable idea of what you will be due to get.
The Scheme offers more than a pension when you retire:-
- The option to exchange some of your pension for a tax-free lump sum at retirement
- An ill health pension if you are retired because of permanent ill health
- A tax-free lump sum of 4 times your salary if you die in service
- Pensions for an adult dependant and your children if you die
- A pension at retirement - even if you are only in the Scheme for two years
- Pensions in payment are indexed in line with consumer price inflation
Please read the pages on the left to find out more information on the Scheme