How do I opt out?

Joining

One of the great things about a workplace pension is that IMI pays into it as well as you. In addition, you get extra money from the Government, called tax relief, so if you opt out of the Mercer Master Trust – IMI Retirement Savings Plan (the Plan), or stop paying into your pension, IMI’s contributions will stop and the extra money from the Government will also stop.

How can I opt out?

If you are an active member of the Plan, you can stop your contributions online via your Optimize account. Please note, changes made through Optimize are effective in the following month’s payroll. Alternatively, you can complete an opt-out form and return to your local HR contact.

If you opt out of the Plan within one month of being automatically enrolled, you’ll be treated as if you had never joined the Plan and any money that you’ve paid in will be refunded in full. You’ll only get back the contributions you’ve made. You won’t get the contributions from IMI or any tax relief. Please refer to the Automatic Enrolment section for further information on opting out from automatic enrolment.

If you decide to opt out more than one month after you’ve been enrolled in the Plan, any contributions that you have made will be held in your pension pot in the Plan until you are eligible to access your savings (typically from age 55).

How long does opting out last for?

Because the Government wants to encourage everyone to save, you’ll be automatically re-enrolled every three years and you will need to opt out of the Plan again if you still want to. We will write to you at the time of re-enrolment.

Can I opt back in?

If you change your mind, you can ask to re-join the Plan at any time online via your Optimize account. Please note, changes made through Optimize are effective in the following month’s payroll.