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Money Purchase 2003 (MP03) Section Switch form

If you wish to switch from the Auto Enrolment (AE) Section to the Money Purchase 2003 (MP03) Section, please complete all sections of this form and press submit. On submission the form will go to Pearson People Services (PPS).

Before completing and submitting this form, please check that you are eligible to join the MP03 section. You can find out by going to How the Plan works.

You will then receive an email confirming your submission.

Please note, if we receive your form after payroll cut off (normally around 5th of the month), the change will not be actioned until the following month.

    * Denotes a required field

    Personal information

    Selecting your retirement age

    The normal retirement age of the Plan is 62, however, you have the option to change this to any age between 55 and 74. If you choose to invest in one of our lifecycle options, it is important to let us know the date in which you would like to retire, as it is used to both provide retirement illustrations and as the basis of the automatic fund switching process. You can change your selected retirement age (SRA) as often as you need to. Just complete our online Selected retirement age form.

    Your member contributions

    You may choose the level of contributions you want to pay within a range of options as shown below. Contributions are deducted as a % of pensionable salary, which is your basic salary at 1 April each year, restricted in accordance with The Pearson Pension Plan’s (the Plan) earnings cap. Minimum contribution 3% (default contribution if no selection made).

    Minimum contribution:

    Maximum contribution:

    3%

    5% (Under age 30)

    6% (30 to 44)

    8% (45 and over)

    Please select your monthly contribution rate, which is expressed as a percentage of your pensionable salary, from the box below:*

    Your declaration

    I apply to switch from the AE Section to the MP03 Section of the Plan. I authorise the deduction of the appropriate member contributions from my pensionable salary and the transfer of my Pension Pot from the AE Section to the MP03 Section.

    I understand that:

    • My Pension Pot and ongoing contributions in the MP03 Section will continue to be invested in accordance with my current AE Section instruction.
    • I may switch my investments or redirect future contributions at any time, currently at no extra charge via MyWorkplace, or by calling the Aviva Helpline on 0345 072 7204, or by completing the Fund Switch Form.

    Data protection

    The Trustee, as the controller under the applicable data protection legislation in the UK, uses certain personal information about you to (amongst other reasons) communicate with you and administer your benefits in the Plan. Your information is shared with the Plan’s administrators, other providers of services to us, and public bodies such as Her Majesty’s Revenue and Customs. For more detailed information on how we use and disclose your information, the protections we apply, the legal bases we rely on and your data protection rights, please see our privacy notice at www.pearson-pensions.com/privacy-notice/ - This link opens in a new browser window. If you would like a copy of our privacy notice to be sent to you, please contact the pensions helpline.


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