Tax advantages
The MMC UK Pension Fund and its members receive important tax advantages.
The MMC UK Pension Fund and its members receive important tax advantages.
Contributions
Your contributions help grow your savings for retirement. Explore how they work and why they matter here.
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All you need to know about Contributions and the MMC UK Pension Fund
| Member contribution (% of Pensionable Salary) |
Company contribution (% of Pensionable Salary) |
Total contribution (% of Pensionable Salary) |
|---|---|---|
| 2.5%* | 6.5% | 9% |
| 3% | 9% | 12% |
| 4% or more | 12% | 16% |
*The default contribution for members who do not elect a higher contribution rate.
You can contribute more than 4% of Pensionable Salary; however the Company match will not be more than 12%.
You can review and make changes to your contribution rate via Prosper. There are tax advantages of making pension contributions to the Fund please read more here.