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Retirement & Savings

Pension Contributions

Through Salary Sacrifice you swap some of your Total Pay in return for pension contributions of the same value and, as a result, you can reduce the amount of National Insurance that you pay (if you pay National Insurance). The proportion of your salary which you have ‘sacrificed’ is now paid into your pension scheme by the Company.

Standard Contribution Structure

The following applies to team members on Standard employment T&C's who participate in the Defined Contribution (Mercer Master Trust) Pension arrangement. Team members with legacy or non-standard T&C's may participate in other arrangements and/or may follow different contribution guidelines: 

Your Contribution  Company Contribution
0% 0%
4% 4%
5% 5%

6%

 6%

Additional Voluntary Contributions (AVCs)

AVCs are a tax-efficient way of saving more into your retirement account to potentially enhance your benefits at retirement. You should make sure that you are making the maximum Regular Ordinary Contribution rate before making separate regular AVCs.
You can make regular AVCs as a percentage of your salary or you can make a lump sum AVC at any time:

  • One-off lump sum pension payment: Please do not use myChoice to request one-off AVC payments. Should you wish to pay a one-off lump sum into the Mercer Master Trust, please email uk.pensions@hpe.com with the amount you wish to pay by the 12th of the month (payroll cut-off) in which you wish to have the one-off payment deducted (AVC requests for December payroll must be sent by the 5th of Dec due to the early payroll cut-off date).
  • Adjusting monthly pension contributions: You can adjust your monthly contributions during the annual enrolment window. Alternatively, you can also do this at any point during the year by triggering an “Anytime” Qualifying Life Event (QLE) inside your myChoice account before the 1st of the month in which you would like the change to be effective from. If you need further help with this please contact the myChoice help desk via 0800 066 8895 or hpemychoiceUK@aon.com.

Mercer Money

Mercer Money is a powerful tool to support your all-round financial wellbeing. Your Mercer Master Trust (MMT) pension is automatically connected to Mercer Money, providing you with a clear overview of how your retirement currently looks. It also allows you to bring together all your accounts (including debit and credit cards, savings, investments, mortgages, loans and pensions) and create a 360-degree view of your financial health.

The Mercer Money app is not only the new gateway to your MMT pension but it is also your online money coach - giving you tips, tools, guidance, and support on your money habits.