A new home for your workplace pension savings.
After the recent consultation with employees, Inmarsat is happy to announce its decision to set-up a new defined contribution (DC) pension plan (the Inmarsat Pension and Savings Plan) using the Fidelity Master Trust.
Use this site to find out more about what’s happening, explore how your new pension plan works and what you can do to manage your retirement savings. If you want to find out more, register below for one of the online presentations from Fidelity in November.
Important information - please keep in mind that the value of investments can fall as well as rise and you may get back less than you save. This information is not a personal recommendation for any particular investment or action. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser (you as an individual are responsible for the costs incurred for any financial advice received). The minimum age you can normally access your pension savings is currently 55, and is due to rise to 57 on 6 April 2028, unless you have a lower protected pension age.
Inmarsat recently completed a review of their existing pension and benefit arrangements and wants to ensure that you have access to benefits that can improve your whole financial picture - now and in the future.
For this reason, Inmarsat has chosen to move the company pension plan to Fidelity’s Master Trust arrangement and make some significant changes to allow greater flexibility and choice when it comes to your pension and savings.
In January 2022, the savings you have built up under the Inmarsat Pension Plan DC Tier will be moved into the Inmarsat Pension and Savings Plan. You can choose how to invest these savings before they are moved if you wish.
If you want to choose where your savings are invested before the new Plan launches, and you have not yet received your Investment choices form, click the link below.
Choosing where your savings are invested
Watch a recording of the Fidelity presentations that were originally delivered in November 2021 by clicking below. The first presentation is all about the new Inmarsat Pension and Savings Plan, whilst the second introduces Invest@Work.
The aim is to offer a more modern pension arrangement that features new investment options, a flexible contribution structure and a sustainable default investment. There is also additional governance and more flexibility when you come to take your retirement benefits.
Watch the film to find out more about the new PlanDo you know what a Master Trust is? What the benefits are? This short video explains.
All current employees of Inmarsat - including those that are not currently a member of the Inmarsat Pension Plan DC Tier - will be automatically enrolled into the Inmarsat Pension and Savings Plan on 1 January 2022.
If you do not want to become a member of the new Plan, you will have the chance to opt-out. (see the FAQs section for more information on opting-out).
The Inmarsat Pension Plan DC Tier will be closed in February 2022. Your contributions from January 2021 onwards will be paid into the Inmarsat Pension and Savings Plan.
Your existing savings from the current plan will be moved into the Inmarsat Pension and Savings Plan on 18 January 2022.
Ex-employees of Inmarsat will join the new Plan once their existing savings have been moved to the new arrangement in January 2022, unless they choose to move their savings elsewhere before 17 December 2021.
If you are saving for something special or just looking for the next best tax-efficient way to save beyond what your pension plan allows, Fidelity’s Invest@Work aims to help you take control of your financial future.
Join us at our Invest@Work presentation in November to find out more - register above.
Whether you’re aiming to reach your first financial milestones, or already a shrewd investor, do some exploring with our money tools and discover wider financial and retirement planning content.
Discover more about financial and retirement planningGo to the FAQ section at the top of this page to see the questions that have been asked during the consultation process.
Alternatively, if you want to speak to Fidelity’s Workplace Investing Service Centre, please call 0800 3 68 68 68 (lines open Monday to Friday, 8am - 6pm).
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