1. What does deadline of conversion decision mean?
The deadline of the conversion decision is the day when your deferred compensation becomes valid. As of 2014, this is always valid on the 1 September of every year for all Associates.
2. How do I actually make the conversion decision in the portal?
After you have logged in to the online pension portal mars-pension.towerswatson.com , you can open up the brief instructions under menu point “Good to know“. Here is where you find all the information needed to tell you how you can make a deferred compensation decision under menu point “Deferred Compensation” – “Monthly Salary”. Please find also here a guideline how to make a decision in the online pension portal.
3. What can I do now?
Between 1 June and 5 September every year, you can make or renew your decision in the online pension portal mars-pension.towerswatson.com.
4. What must I do if I decide not to participate in the deferred compensation anymore?
You have to go to the online pension portal in the time between 1 June and 5 September and request your contribution to be set to “€0”. That means, you decide to convert €0 as of 1 September. Please contact Payroll if you are only depositing money from your Associate Savings Scheme (VWL) into one of the plans (Supplementary Plan, Compensation Plan, Bridging Plan), in order to stop this deposit. Please find here a guideline how to make a decision in the online pension portal.
5. Who is my contact?
For more information or questions on deferred compensation, please contact the Mars Pension Service either by phone at +49 611 585-82 530 (Monday to Friday between 09.00 and 12.00), or per email at mars-pension-service@towerswatson.com.
6. Where do I find more information?
Please do not hesitate to contact the Mars Pension Service for more information, either by phone at +49 611 585-82 530 (Monday to Friday between 09.00 and 12.00) or email at mars-pension-service@towerswatson.com.
7. How can I deposit money from the Associate Savings Scheme (VWL)?
The decision to deposit the VWL employer allowance to your deferred compensation can be made only when you apply to participate in the online pension portal for the first time. If you want to contribute the money from your Associate Savings Scheme (VWL) at a later time, please contact Payroll directly.
8. Up until now, I have only contributed money from the Associate Savings Scheme (VWL) into one of the plans (Supplementary Plan, Compensation Plan, Bridging Plan). What must I do in order to continue as before?
The deposits will continue automatically, if so far you have only deposited money from your Associate Savings Scheme (VWL) into one of the plans (Supplementary Plan, Compensation Plan, Bridging Plan). You need to make a deferred compensation decision to meet the new deadline (1 September of any year) only if you want to make a separate monthly contribution in addition to VWL.
9. When in the next year can I change my deferred compensation decision?
As of 2014, you can readjust your decision every year between 1 June and 5 September in the online pension portal at mars-pension.towerswatson.com, i.e. either change the amount to be converted or not participate anymore (set the amount to be converted to “€0”).
10. What happens if I don't do anything?
In 2014 for the first time you have made your decision until you wish to revoke it, i.e. should you not renew your decision within the aforementioned time frame, you will automatically continue participating in deferred compensation as of September as before.
11. How do I get new access or login data?
You can request new access data on the start page of the online pension portal mars-pension.towerswatson.com under “My Pension“.
12. How do I get a new password?
You can request a new password on the start page of the online pension portal mars-pension.towerswatson.com under “My Pension“.
13. How can I see if I have already entered a decision?
After you have entered your decision, it is stored and listed under menu point “Deferred Compensation” – “Decision History“. The status will change to “exported on 5 September” after your decision has been transferred to the Payroll. From that point in time, you can no longer change your decision!