The Medical Research Council (MRC) has an excellent pension scheme that provides generous benefits linked to salary and service. We are one of an increasingly small number of organisations that still gives its employees the opportunity to belong to a defined benefit pension scheme. This means that the scheme gives you a pension based on service and your pensionable salary when you retire. Even if your retirement is a number of years away, you know broadly what you will be due to get.
To help with retirement planning, you will be sent an annual statement of benefits each year which will reflect the most recent pay award.
Available to read is our excellent guide to the MRC Pension Scheme for new starters.
Additional Pension Scheme Benefits
- an ill health pension if you are retired because of permanent ill health
- the option to take a tax-free lump sum on retirement
- a tax-free lump sum of 4 times your salary if you die in service
- pensions for an adult dependant and your children if you die
- a pension at retirement – even if you are only in the Scheme for two years
- pensions in payment are indexed in line with price inflation.
For more information on the scheme please visit the MRC Pension Scheme website.
Last updated: 31 March 2022