Multiple sclerosis (MS) patients' self-reported cognitive difficulties do not typically correlate well with objective neuropsychological assessment. The relationship between self-reported memory, dissociation, emotional problems, and objective cognitive functioning was examined in 79 MS patients. Increased self-reported memory problems were significantly associated with higher levels of normative dissociation. Self-reported memory problems were also associated with more reports of depression, anxiety, and neuroticism. Consistent with expectations, self-reported memory was not significantly associated with performance on any of the neuropsychological variables. The present study then evaluated a theoretical causal model with normative dissociation mediating the relationship between emotional problems and perceived cognitive problems. Increased depression, anxiety, and neuroticism were all significantly correlated with more dissociative cognitive failures, which, in turn, were strongly associated with perceived memory problems. Findings have significant theoretical implications for understanding the relationship between perceived and objective cognitive difficulties. Findings are also clinically relevant and suggest that dissociative experiences should be evaluated when MS patients report memory problems.