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M&S pension and contribution level

Your M&S Pension Saving Plan

Changing your membership level or contribution level

Your M&S Pension Saving Plan (the Plan) has two membership levels:

 

Your contribution
(% pensionable salary)

M&S contribution
(% pensionable salary)

Who is eligible to apply

Foundation

Premier

3% or more

6% or more

6%

12%

All employees

  1. If you have completed more than 2 years continuous membership of the plan, or
  2. Are Reward level D or above

Please complete all fields if you are a member of the Plan and want to either change your membership level or change your contributions.

You may like to have your payslip to hand as it will show your National Insurance Number and your employee number which are needed below.

OPTION 1

Select below if you want to change your membership level.

Please note that you can only change your membership level to Premier if you have completed more than 2 years continuous membership of the plan, or are Reward level D or above

And/or

OPTION 2

If you want to change your regular contributions, type the new contribution into the box below (as a percentage of your Pensionable Salary)
Note that:

If you are a Foundation level member your regular contributions need to be 3% or more
If you are a Premier level member your regular contributions need to be 6% or more

Please note that if you do not select to change your membership level you will remain on your current membership level and we will only amend your employee contribution.

And/or

OPTION 3

Select below if you would like to make a one-off payment into the Plan.

  • I'd like to change my contributions to the Plan and agree that after two months' membership of the Plan my salary will be reduced in return for a pension contribution (of the same value) which will be paid into the Plan by Marks and Spencer on my behalf. This is called Salary Exchange.
  • I understand that my contributions will be made through Salary Exchange unless I opt-out or my pay is less than the minimum requirements. For more information please see the Salary Exchange fact sheet or contact M&S Colleague Services on 0345 304 7474.
  • I understand that there are limits to the amount of contributions that can be paid into the Plan each tax year which receive tax relief, and that I will need to declare and pay any tax due to HMRC through self-assessment. For more information please see "tax information for High Earners”.

The actions you have requested above will be implemented at the next available payroll date. This may take up to 30 days to process.

If you have any questions about the Plan please call the helpline on 0345 026 7579.

Online signature

Complete an 'online signature' by entering your full name and today's date in the boxes below before submitting this form.