Pension Scheme
The CF Fertilisers UK Limited Pension Scheme is the only scheme which is open to new members, and this is a Master Trust, administered by Mercer. The remaining two schemes retain their original names from before the formation of CF Fertilisers UK Limited and are closed to new members.
Mercer Master Trust – CF Fertilisers
The Mercer Master Trust is a defined contribution pension plan which helps thousands of people, from many different employers, to save for retirement. Like CF, each employer has its own section within the Mercer Master Trust, and you decide how much is paid in. CF also contributes on your behalf.
How can I access my plan information?
The Mercer Money, a Financial Wellbeing platform and mobile application, which provides a gateway to your retirement savings. Once registered you will be able to access your plan information, member booklets and modelling tools to support you in your retirement planning.
You will also be able to complete key administration tasks associated with your pension via Mercer Money, such as nominating your beneficiaries, reviewing / amending your investment selections and selecting your target retirement age. Please note, your pension beneficiary selection form is completely separate to your life assurance nomination form as the Mercer Master Trust is governed by a separate board of Trustees.
You are also able to update your pension contributions within Mercer Money by selecting ‘Update contributions’ and clicking the link provided. This will then take you to the relevant system to make the necessary changes.
How much can I contribute?
You can choose how much you wish to contribute to the Plan and CF will also contribute in line with the following contribution scales:
| Your contribution | CF contribution |
|---|---|
| 3% | 8% |
| 4% | 9% |
| 5% | 10% |
How do I leave / join the Mercer Master Trust?
You can manage joining or leaving the pension scheme or updating your contributions via Workday.
How is the Mercer Master Trust Governed?
The Mercer Master Trust is overseen by a board of experienced independent professional trustees, who are legally responsible for governing it in the best interest of all of its members. This includes a strong framework of controls, aimed at giving you value for money, and support in planning for retirement.
Mercer are responsible for running the Mercer Master Trust and their duties alongside the Mercer Master Trust Trustees include ensuring it is financially sustainable, managing the key providers, and acting as the investment manager. The Mercer Master Trust is authorised by The Pensions Regulator, to maintain its authorised status the Master Trust is rigorously audited on an annual basis.
Mercer partners with Aviva, who provides administration services for Mercer Master Trust members. Aviva looks after your retirement savings account on a day-to-day management basis, including processing contributions, arranging investment fund switches and communicating with you from time to time on behalf of the Mercer Master Trust.