When you join

If you are an eligible employee you can join the RSP as soon as you join IMI by completing and returning a contribution commencement form, included in your Offer of Employment pack. Alternatively, if you are eligible, you may be automatically enrolled three months after joining IMI.

An RSP account is opened in your name.

The overall minimum contribution is 10%.*

You contribute a minimum of 5% into the RSP

IMI contributes a minimum of 5% into the RSP

You receive tax relief on your contributions.

Your contributions are paid through a salary sacrifice arrangement called SMART Pay. This enables you to benefit by paying less National Insurance contributions.

Your account is invested in the way you choose. You can invest your account in either:

The RSP Lifestyle Option or Self-Select

If you make no investment choice, your contributions will be invested in the RSP Lifestyle. You may wish to transfer previous pensions benefits into your account.

From April 2019, in line with current Government legislation, the minimum total contribution will be increasing to 9%. The minimum employee contribution will be increasing to 5%. However, the Trustee, along with the Company, has decided to increase the minimum Company contribution to 5% as well - meaning the total minimum RSP contribution will become 10%, with effect from 1 January 2019.

An employee on a salary of £25,000 per year pays monthly pension contributions of 6% that are matched by IMI. The pension contribution reduces their take-home pay by £85 per month, but the total contribution invested into their pension account is £250 per month.