Arrange your retirement in eight steps
Are you thinking about retiring, and might that coincide with the transition to the new pension plan? If so, you may be wondering what this means for your pension, when the right time is to retire, and when you need to take action. We’re happy to help you with this in eight steps, so you get the insight and support you need to make the right pension choices.
Having trouble figuring it out?
You can easily handle many things yourself online via the updated MyMarsPension. But we’re here for you every step of the way with personalized help from a pension coach. You can also take advantage of choice guidance through your pension fund or the guidance Mars offers. Ask HR about the options.
12–6 months before retirement
1. Review your current pension
Log in to MyMarsPension and check the My Pension section to see how much pension you’ve accrued and when you can retire.
Where can you manage this?
Mars Pension Fund, MyMarsPension.
2. Calculate your pension options
Use My Planner in MyMarsPension to see how choices such as early retirement, high/low pension, or spousal pension will affect your pension.
Where can you manage this?
Mars Pension Fund, MyMarsPension.
3. Find out what the new pension plan entails
On January 1, 2028, the pension plan will transition to a new system. Find out what will change regarding your pension (options) and those of your partner and children, and what will remain the same.
Where can I find this?
4. Compare your pension before and after the transition (coming soon)
Are you planning to retire around 2027–2028? In My Planner, you won’t be able to see what this means for you under the new pension plan until late 2027. Until then, we’ll soon share example scenarios to give you a general idea of how the new pension plan will affect different retirement situations.
3–6 months before retirement
5. Take advantage of choice guidance
Do you need help making pension decisions? The pension fund offers guidance to help you with this.
You can also check with HR to find out what Mars and the pension fund offer in terms of guidance on pension decisions.
Where can you arrange this?
Mars Pension Fund: contact a pension coach.
Mars HR
6. Apply for your pension
Have you made a decision? Apply for your pension at least 6 months before your retirement date. Have you decided to take early retirement? If so, apply for your pension using the Early Retirement Application form. This form must also be signed by your line manager.
Please note: Choices you make regarding the transition to the new pension plan will remain in effect after January 1, 2028.
Where do you handle this?
For early retirement: Mars Pension Fund using the Early Retirement Application form.
Otherwise: Through your line manager, see step 7.
7. Notify your manager of your retirement date
Let your manager know when you plan to retire.
Where do you handle this?
Mars, your line manager will report your departure via My P&O.
8. Schedule a personal retirement consultation
Do you have any questions about your options or when to retire? If so, schedule a personal retirement consultation with your pension fund.
Where can you do this?
Mars Pension Fund: contact a pension coach.
Finalize your departure from Mars
Your employer will handle the administrative procedures related to the termination of your employment.
Having trouble figuring it out?
We’re happy to help! Our pension coaches are available Monday through Friday (9:00 AM to 5:00 PM) at 088 015 79 20. You can also send us a message using this contact form.
Featured: Frequently Asked Questions About Retirement During the Transition
es, it does make a difference. During the transition from the current plans to the new pension plan, a portion of the assets will be distributed among the members.
As an active member in the Final Pay Plan, you will receive additional pension assets due to the expiration of guarantees under the current Final Pay Plan, such as the employer’s top-up obligation, the indexation arrangement, and pension accrual based on your salary at the end of your career.
Final Pay Plan
If you no longer work for Mars but have accrued a pension under the Final Pay Plan, you will receive additional pension assets due to the discontinuation of future indexation and the employer’s top-up obligation. The amount of the additional assets does, however, depend on the funding ratio at the time the new pension plan takes effect.
ARP/ASP
Members in the ARP/ASP plan will receive additional assets due to the change from an age-dependent contribution to an age-independent contribution and the elimination of the interest accrual provision in the MUP plan. The amount of compensation you receive depends on your status in the plan and the type of plan in which you are enrolled.
If you no longer work at Mars but have accrued a pension under the ARP/ASP plan, you will not receive any compensation.
In addition, as a participant in the ARP/ASP plan, you can still purchase pension benefits from an external provider before January 1, 2028; if you wish, you can also opt for a fixed, unchanging benefit. This will no longer be possible as of January 1, 2028. From that date on, you will purchase your pension from Mars Pension Fund, and that pension will fluctuate in line with developments in the financial markets. Consider, for example, the return on investments and the level of interest rates.
We will be able to provide more details on this by the end of 2027, as we want to base our calculations on the most up-to-date figures possible. The final amounts per person will be announced in mid-2028.
See also
Calculate Your Pension Choices
Log in to MyMarsPension and use My Planner to see how your pension choices will affect your pension.
Coming soon: Four examples from the new pension plan
Soon we will share four example scenarios to see how the new pension rules might affect different participants. Please note: these are just estimates. We will provide personalized figures at the end of 2027. Click here for more information about the new pension system.