Introducing the Global Marine Group Employee Pension
From 1 September 2025, your workplace pension plan will be the Global Marine Group Employee Pension. This website has been designed to introduce you to your new pension plan and keep you informed with what’s happening over the next few months.
FAQs
This Q&A section provides information and answers to some of the most commonly asked questions about workplace pensions.
A pension is a tax efficient way of saving for your retirement. You and your employer can contribute and there is also tax relief on your contributions from the government. For more information, please click here to find out all about your workplace pension.
More information will be sent to you in September, when you’ll receive your welcome pack containing a ‘Key Features Document’, ‘Contributions explained’ and ‘Fund Range information’ booklets. If you’d like to know more before then, please join the webinar on 6 August – click here to register.
It’s easy to become part of your employer’s pension plan. In fact, in most cases, it’s all done automatically to help you better prepare for your retirement. For more information, please click here to find out all about your workplace pension.
As a member of a workplace pension administered by Fidelity, you can leave it up to the experts to make investment decisions for you or self-select and manage your investment choices yourself. For more information, please click here to find out all about your workplace pension.
PlanViewer is your secure 24/7 online pension account. You can view your account balance which is updated daily, contributions paid in by you and your employer plus fund fact sheets are available, you can switch investments and transfer pensions online and the latest versions of your plan literature. You can access PlanViewer online or via the PlanViewer app. For more information about PlanViewer and the app, please click here.
Your contributions are automatically invested for you in the Plan’s default option, which is the FutureWise Target Date funds. If you wish, you can change this and choose your own investment choice by self-selecting investment funds from the range available. Please click here to find out more about choosing your investment funds.
Yes – The annual allowance is the limit on how much you can save into your pensions each tax-year while still benefiting from tax relief on your contributions, any employer contributions and any contributions made on your behalf by someone else. Find out more about annual allowance.
The tapered annual allowance further limits the amount of tax relief high earners can claim on their pension contributions by reducing the annual allowance. Read more about how this might affect you and the steps you can take to make your contributions more tax-efficient. Find out more about the tapered annual allowance.
Once you begin taking taxable money from your pension savings using pension freedoms, generally you will be subject to a reduced annual allowance that limits the tax relief that you can receive on future contributions. Find out more about how and if this might affect you. Find out more about the money purchase annual allowance.
Finally, there is the lump sum allowance – or LSA - The LSA is one of three allowances that were brought in on 6 April 2024 to replace the lifetime allowance (LTA). The other two are the lump sum death benefit allowance (LSDBA), which affects the beneficiaries of someone who dies before the age of 75; and the overseas transfer allowance (OTA), which affects those who want to transfer their pension overseas. Find out more about the lump sum allowance.