Fund Benefits

The benefits the Fund currently provides are set out in the Trust Deed and Rules, they are summarised in the Fund booklets.  Whilst every effort is made to ensure the accuracy of the information in these booklets, in the event of a discrepancy the Trust Deed and Rules will override the booklet. In brief:

On leaving IMI with a deferred pension

    • IMI Section member (joined the Fund prior to 1 July 2002) – if you left IMI before November 1987 your deferred pension may be payable at age 65.  The majority of IMI Section deferred members will be have a payable age of 60 or later if still in IMI’s employ beyond age 60. 
      • You can leave your deferred pension in the Fund or,
      • transfer it to another registered pension arrangement or,
      • you can apply for early payment at a reduced rate once you attain age 50
    • Main Section member (joined the Fund on or after 1 July 2006) – your deferred pension is payable at age 65 or later if still in IMI's employ beyond age 65. 
      • You can leave your deferred pension in the Fund or,
      • transfer it to another registered pension scheme or,
      • you can apply for early payment at a reduced rate from age 55 subject to Trustee consent. 
    • MKR members - your deferred pension is due for payment at age 60 or later if still in IMI's employ.
      • You can leave your deferred pension in the Fund or,
      • transfer it to another registered pension arrangement or,
      • you can apply for early payment at a reduced rate once you attain age 50
    • Facsimile members will have a variety of ages when their deferred pensions are due i.e. 60, 62 or 65. 
      • You can leave your deferred pension in the Fund or,
      • transfer it to another registered pension arrangement or,
      • you can apply for early payment at a reduced rate once you attain age 50.

You will have been written to when you left IMI and advised of the amount of your deferred pension at that time and at what age/date payment is due.

It is encumbent on you to keep the Trustee informed if you change address or change  your name and any other relevant information.

At retirement

  • You will receive an annual pension payable for life.
  • Current tax law allows you to exchange part of this pension for a tax-free lump sum.