Money Purchase 2003 Section
switching form

Money Purchase 2003 (MP03) Section - Switching 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).

You will then receive an email confirming your submission.

Selecting your retirement age

The Plans normal retirement age is age 62. If you want to select a different retirement age please confirm your selected retirement age below. This can be at any age between the ages of 55 and 75.

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 contribution2.5% (default contribution if no selection made).

Maximum contribution: under age 30 – 5%, 30 to 44 – 6%, 45 and over – 8%.

Please indicate your regular monthly contribution, expressed as a percentage of basic salary,in the box below.

Your member 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 inaccordance with my current AE Section instruction.
  • I may switch my investments or redirect future contributions at any time, currently at no extra charge via the Aviva website at www.aviva.co.uk/membersite, or by calling the Aviva Helpline on 0345 072 7204, or by completing the ‘Fund switch & redirection request form’ available on the Plan website www.pearson-pensions.com

Data Protection

The Trustee, as the controller under the EU General Data Protection Regulation, 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. If you would like a copy of our privacy notice to be sent to you, please contact the pensions helpline.

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