Enrolling into a pension at work

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Pension RetireSource: DirectGov

Starting from October 2012, employers will enrol workers into a workplace pension, if they meet the criteria below. When you pay into your pension, your employer and the government will contribute too. Find out how this affects you, when this will happen and the benefits.

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Workplace pension – what it is!
A workplace pension is a way of saving for your retirement arranged through your employer. It is sometimes called a ‘company pension’, an ‘occupational pension’ or a ‘works pension’.

How this affects you:

Your employer will enrol you into a workplace pension if you:

  • are not already in a pension at work
  • are aged 22 or over
  • are under State Pension age
  • earn more than £8,105.00 a year
  • work in the UK

Your employer will write to you to explain how the changes affect you.
Employers’ workplace pension obligations > 

You can choose to opt out of this pension, if you want to. But if you stay in you’ll have your own pension, which you get when you retire.

If you’re already in a pension at work and it meets the government’s new standards, this will not affect you.

Find out more about who this affects.
Workplace pensions – how your situation affects you > 
Special circumstances and your workplace pension >

Read More click here >

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