How much can an Auto Enrolment workplace pension save me?
Do I qualify?
In order to be 'automatically enrolled' to the workplace pension you must:
- Be employed in the UK.
- Be aged between 22 and state pension age.
- Earn over £10,000 per annum.
An employee can still 'opt-in' to the pension as long as they are a UK employee. You can make personal contributions but your employer is not obligated to.
If you don't want to be included in the pension but are 'automatically enrolled', you can 'opt-out' after you have made your first contribution and you will be refunded. It is illegal, known as 'inducement', for your employer to ask you to opt-out of the pension scheme.