What are the benefits of MCR?

As we see more and more employers on-boarding to Monthly Contributions Reconciliation (MCR) each month, we’d like to highlight how it’s having a positive impact and the beneficial effect you can expect to see once you on-board, including -

  • Reassurance that the information you’re sending is accurate. This means no corrections in the future or queries at retirement when member details may be more difficult to find
  • It’s a common misconception that the MCR submission means more work. In fact, there are only three additional fields to complete above the current process
  • As MCR is an amalgamation of MDC, Monthly Contributions Breakdown and Enrolment processes, it condenses the time spent completing three processes into one
  • It eliminates the chance of arrears occurring (which can be costly and stressful) as contributions are guaranteed to be correct
  • Not only does it mean better results for you, but for your employees too. Getting on-board with MCR shows your staff that you care about their career, their financial future and maintaining good relationships
  • More accurate information means more reliable Benefit Statements for members and up to date online information that they can trust. This will result in fewer queries and reduced administrative time for you
  • With higher quality information, members are able to plan better for their retirement
  • As we work with you through the MCR process and encourage ongoing feedback, improvements are continuously being made to improve how it works, the support we can offer and how it can improve your working life.

We've a short video you can watch which outlines these benefits in more detail and the next steps to on-board to MCR.

Watch our benefits of MCR video now. (This link opens in a new window)

Last Updated: 28/04/2021 12:17

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