So as we all we know we should be getting a Employer provided pension next month…because its the law 
. (Though at our place the gaffer seems to be burying his head in the sand and pretending it isnt happening 
)
I wondered though what happens if your an agency worker and not working consitent weeks. Ie you might work 3 days one week then 5 the next. Or even you might work for multiple agencies.
Just FYI, it isn’t all next month. It depend s on your Employers tax number. One of our subbies was in the early batch and had to auto enrol last year; our auto enrollment isn’t until next year.
I thought it was they have to OFFER
nick2008:
I thought it was they have to OFFER
It’s auto enrol, the employee has the right to ask to opt out
PAYE agency staff will continue to not get pension contributions from their “employer”. Despite aparently paying into the agy Co scheme. Any monies that they may have paid into the “pot” will mystically disappear along with holiday pay. Those S/E drivers will have to setup their own pension scheme, and should’ve by now been contacted by pensions regulator. The smart ones will have notified the PR that there are no employees and therefore there isn’t the need to setup said scheme. Those using an umbrella Co I suspect will have got sucked in to paying into a scheme setup by the UC, and much like the VAT monies. It’ll all disappear into the UC coffers.
Any company who hasn’t setup a scheme is likely to be in the doodah soon
These new company pensions, suggest you don’t look at your expected future payouts once signed up unless you want a nasty depressing shock, commissions to the wide boys operating the system are taking a massive proportion of your money.
I’m not all sure they’re worth the bother for most of us.
I will be opting out of any company pension. I’m already in receipt of a military pension. Like juddian said, the pension company takes a portion of your payments. I would rather put the money in an isa or savings account. At least I’m keeping all my money and getting a bit of interest on it as well.
The other thing is, your payments go up as time goes by.
Just my opinion though.
The headline story ATM is that 55% of people won’t have enough contributions in the pot to get the full basic amount of the new state pension
madmackem:
I will be opting out of any company pension. I’m already in receipt of a military pension. Like juddian said, the pension company takes a portion of your payments. I would rather put the money in an isa or savings account. At least I’m keeping all my money and getting a bit of interest on it as well.The other thing is, your payments go up as time goes by.
Just my opinion though.
Your jumping the gun somewhat!!!
What if your company matched your pension weekly payments 100% or even 50%■■
You’d be a mug not to stay in works pension then!!!
Big Truck:
What if your company matched your pension weekly payments 100% or even 50%■■
You’d be a mug not to stay in works pension then!!!
Thats exactly what my employer does. They match my contributions £ for £, plus I don’t pay tax on them, so every £1 I pay in is in effect worth £2.20 into the fund. On the strength of this, I’m could retire several years early
Secretelephant:
So as we all we know we should be getting a Employer provided pension next month…because its the lawI wondered though what happens if your an agency worker and not working consitent weeks. Ie you might work 3 days one week then 5 the next. Or even you might work for multiple agencies.
Each agency would have to provide a pension if you worked for multiple agencies but given that many have signed up to the Peoples Pension it would probably all go in the same account. As you contribute 1-3% of your wage depending on how many years you’ve been signed up then it doesn’t matter that you don’t work consistent weeks, you just pay in differing amounts.
I have no idea why you’d opt out as you get a wage rise due to the employers contribution and your contribution is tax deductible so you pay less income tax too.
As trucken rightly says for every quid I put in it is worth £2.20 to me in total plus any interest it makes.
out-law.com/topics/pensions/ … enrolment/
Agency workers are different from other workers and so present particular challenges. Many are seeking work for only a short period. Many will register with a number of different agencies and will, in fact, only be ‘employed’ by a particular agency for a short period. The auto-enrolment obligation applies to all workers who meet the age and earnings thresholds, but there are options which may assist those employing high churn groups of workers.
Employers can make workers wait up to three calendar months before enrolling them into a pension scheme. If the worker has left by the end of that three-month period, then there is no need to provide that worker with a pension.
bbc.co.uk/news/business-32087038
What the government calls “pension freedoms” will be in place from Easter Monday. But anyone nearing retirement would do well to note the drawbacks, as well as the advantages.
Taking money out of your pension could still land you with a large tax bill.
From next year, a new limit on the total size of a pension pot could mean your income from an annuity will be less than you expect.
Many in the industry fear a new wave of fraud.
It will soon become harder to qualify for a full state pension.
Without proper advice, the changes could make it easier to run out of money before you die.
1. Who is affected by the changes?
The big change affects 4.5 million people with Defined Contribution (DC) schemes.
With this type of scheme your monthly pension savings go into a big pot, which will eventually be used to buy an income for your retirement. You can now access that pot freely from the age of 55 (57 from 2028), taking out as much as you like, subject to tax.
Some people with Defined Benefit (DB) pensions - which promise a particular annual income - will be able to swap them for DC schemes.
man in suit
Image caption
The taxman is watching closely
2. How much tax will I have to pay?
You can take 25% of your pension pot as a tax-free lump sum. Or you can take out smaller amounts, of which the first 25% will be tax free on each occasion.
But you will have to pay income tax on the amount you withdraw over and above the 25% tax-free allowance.
If that amount, added to the rest of your income, exceeds £42,386 (2015-16), for example, you will pay tax at 40% or more.
If the amount exceeds £100,000, you will begin to lose your personal allowance, resulting in an even higher tax charge.
3. What tax will I have to pay if I buy a pension income?
If you buy an annuity (an income for life), or you take income drawdown (leaving your pension pot invested), you will only pay tax on the income.
Anyone with total income below £10,600 in 2015-16 will not pay anything.
4. How easy is it to pass on a pension to my dependants?
The new rules make it easier. If you die before the age of 75, the pension pot can be passed on tax free.
If you die after 75, and your descendants want the whole pot as a lump sum, they will have to pay 45% tax, instead of 55% previously.
However, the government is considering whether to reduce this to an individual’s income tax rate - known as the marginal rate - from April 2016.
Those who draw down income from an inherited pot will, in any case, pay tax at their marginal rate.
calculator
Pension Calculators
State pension calculator DWP
Combined state, workplace and DC calculator, from Standard Life
Should I delay buying an annuity? Hargreaves Lansdown
How much can I earn from a DC pot? Money Advice Service
5. Are annuities still a good idea?
The pension changes mean that many people who would have bought an annuity, will not now do so.
Income drawdown is a more flexible option for many. In fact it has not been compulsory to buy an annuity since April 2011.
Nevertheless, for many people, annuities will still be the best option - or a mixture of an annuity and drawdown.
6. Can I sell an annuity if I have already bought one?
Our Pensions placards
In the Budget of March 2015, the chancellor said he would make this possible, and the government will now carry out a consultation. This could allow you to swap your annuity for cash, from April 2016.
However, no one knows how much demand there will be for second-hand annuities. Many suspect that those selling their annuities will find it hard to get a good price.
7. What if I am in a Defined Benefit (DB) scheme - can I move to a DC scheme?
In theory you can - if your employer allows it. Transferring to a DC scheme means you could get your money out more easily, and pass it on to descendants. But again, you may not get the best value.
DB schemes usually offer inflation proofing, and the ability to pass some of the income on to a spouse.
They also have a particular advantage if you are getting close to the maximum amount you are allowed to have in a pension pot (see below).
8. What are the new rules on how much you can save in a pension?
Couple walking through heather
From 6 April 2016, the maximum you can have in a pension pot will be £1m, reduced from £1.25m. This figure will rise with inflation from April 2018. The government says the change will only affect wealthy people.
But a 60 year-old spending all their £1m pension pot on an inflation-linked annuity could - according to current annuity rates - expect a maximum annual income of around £27,000. You can have a larger pension pot if you wish, but you will pay 55% tax on any withdrawals.
However, anyone in a DB scheme will be treated more generously.
Such schemes have a notional capital value, calculated by multiplying the annual income by 20. So if the scheme pays an income of £10,000 a year, the notional value of the pension pot is £200,000.
Given that the maximum pot will now be £1m, members of DB schemes can therefore expect annual incomes of up to £50,000.
The annual allowance for pensions savings remains at £40,000.
9. Is the state pension changing?
Yes. From 6 April 2016. The additional state pension and part of pension credit is being abolished, to be replaced with a single-tier state pension. The rate will rise from £113 a week to around £155, but the precise amount will be set towards the end of 2015.
However, most people will not qualify for the full pension, as their schemes were contracted out of the second state pension, and they paid lower National Insurance (NI) contributions as a result. To qualify for the full pension, you will now need 35 years of NI contributions, instead of 30 previously.
pension wise logo
10. What advice is available?
Free guidance - not advice - is available through the Pension Wise website.
Those aged 55 or above can book a telephone interview with the Pensions Advisory Service, or a face-to-face interview with Citizens Advice.
The service will give general guidance, but cannot advise on specific pension policies or investments.
The number to book is 030 0330 1001. Otherwise advice can be had through private providers, which will usually be chargeable.
Big Truck:
trucken:
What if your company matched your pension weekly payments 100% or even 50%■■
You’d be a mug not to stay in works pension then!!!Thats exactly what my employer does. They match my contributions £ for £, plus I don’t pay tax on them, so every £1 I pay in is in effect worth £2.20 into the fund. On the strength of this, I’m could retire several years early
Same here mine does as well 
Immigrant:
The 2015-16 pension changes explained in 10 questions - BBC NewsWhat the government calls “pension freedoms” will be in place from Easter Monday. But anyone nearing retirement would do well to note the drawbacks, as well as the advantages.
Taking money out of your pension could still land you with a large tax bill.
From next year, a new limit on the total size of a pension pot could mean your income from an annuity will be less than you expect.
Many in the industry fear a new wave of fraud.
It will soon become harder to qualify for a full state pension.
Without proper advice, the changes could make it easier to run out of money before you die.
- Who is affected by the changes?
The big change affects 4.5 million people with Defined Contribution (DC) schemes.
With this type of scheme your monthly pension savings go into a big pot, which will eventually be used to buy an income for your retirement. You can now access that pot freely from the age of 55 (57 from 2028), taking out as much as you like, subject to tax.
Some people with Defined Benefit (DB) pensions - which promise a particular annual income - will be able to swap them for DC schemes.
man in suit
Image caption
The taxman is watching closely- How much tax will I have to pay?
You can take 25% of your pension pot as a tax-free lump sum. Or you can take out smaller amounts, of which the first 25% will be tax free on each occasion.
But you will have to pay income tax on the amount you withdraw over and above the 25% tax-free allowance.
If that amount, added to the rest of your income, exceeds £42,386 (2015-16), for example, you will pay tax at 40% or more.
If the amount exceeds £100,000, you will begin to lose your personal allowance, resulting in an even higher tax charge.- What tax will I have to pay if I buy a pension income?
If you buy an annuity (an income for life), or you take income drawdown (leaving your pension pot invested), you will only pay tax on the income.
Anyone with total income below £10,600 in 2015-16 will not pay anything.- How easy is it to pass on a pension to my dependants?
The new rules make it easier. If you die before the age of 75, the pension pot can be passed on tax free.
If you die after 75, and your descendants want the whole pot as a lump sum, they will have to pay 45% tax, instead of 55% previously.
However, the government is considering whether to reduce this to an individual’s income tax rate - known as the marginal rate - from April 2016.
Those who draw down income from an inherited pot will, in any case, pay tax at their marginal rate.
calculator
Pension Calculators
State pension calculator DWP
Combined state, workplace and DC calculator, from Standard Life
Should I delay buying an annuity? Hargreaves Lansdown
How much can I earn from a DC pot? Money Advice Service- Are annuities still a good idea?
The pension changes mean that many people who would have bought an annuity, will not now do so.
Income drawdown is a more flexible option for many. In fact it has not been compulsory to buy an annuity since April 2011.
Nevertheless, for many people, annuities will still be the best option - or a mixture of an annuity and drawdown.- Can I sell an annuity if I have already bought one?
Our Pensions placards
In the Budget of March 2015, the chancellor said he would make this possible, and the government will now carry out a consultation. This could allow you to swap your annuity for cash, from April 2016.
However, no one knows how much demand there will be for second-hand annuities. Many suspect that those selling their annuities will find it hard to get a good price.- What if I am in a Defined Benefit (DB) scheme - can I move to a DC scheme?
In theory you can - if your employer allows it. Transferring to a DC scheme means you could get your money out more easily, and pass it on to descendants. But again, you may not get the best value.
DB schemes usually offer inflation proofing, and the ability to pass some of the income on to a spouse.
They also have a particular advantage if you are getting close to the maximum amount you are allowed to have in a pension pot (see below).- What are the new rules on how much you can save in a pension?
Couple walking through heather
From 6 April 2016, the maximum you can have in a pension pot will be £1m, reduced from £1.25m. This figure will rise with inflation from April 2018. The government says the change will only affect wealthy people.
But a 60 year-old spending all their £1m pension pot on an inflation-linked annuity could - according to current annuity rates - expect a maximum annual income of around £27,000. You can have a larger pension pot if you wish, but you will pay 55% tax on any withdrawals.
However, anyone in a DB scheme will be treated more generously.
Such schemes have a notional capital value, calculated by multiplying the annual income by 20. So if the scheme pays an income of £10,000 a year, the notional value of the pension pot is £200,000.
Given that the maximum pot will now be £1m, members of DB schemes can therefore expect annual incomes of up to £50,000.
The annual allowance for pensions savings remains at £40,000.- Is the state pension changing?
Yes. From 6 April 2016. The additional state pension and part of pension credit is being abolished, to be replaced with a single-tier state pension. The rate will rise from £113 a week to around £155, but the precise amount will be set towards the end of 2015.
However, most people will not qualify for the full pension, as their schemes were contracted out of the second state pension, and they paid lower National Insurance (NI) contributions as a result. To qualify for the full pension, you will now need 35 years of NI contributions, instead of 30 previously.
pension wise logo- What advice is available?
Free guidance - not advice - is available through the Pension Wise website.
Those aged 55 or above can book a telephone interview with the Pensions Advisory Service, or a face-to-face interview with Citizens Advice.
The service will give general guidance, but cannot advise on specific pension policies or investments.
The number to book is 030 0330 1001. Otherwise advice can be had through private providers, which will usually be chargeable.
That bang on the head a few days ago from the falling bonnet has certainly improved your communication skills.
gov.uk/workplace-pensions/a … e-pensions
Workplace pensions
About workplace pensions
What you, your employer and the government pay
Protection for your pension
Managing your pension
Changing jobs and taking leave
If you want to leave your workplace pension scheme
Get help and advice
1. About workplace pensions
A workplace pension is a way of saving for your retirement that’s arranged by your employer.
Some workplace pensions are called ‘occupational’, ‘works’, ‘company’ or ‘work-based’ pensions.
How they work
A percentage of your pay is put into the pension scheme automatically every payday.
In most cases, your employer also adds money into the pension scheme for you, and you get tax relief from the government.
When you can take your pension pot depends on your pension scheme’s rules - it’s usually 55 at the earliest.
What you’ll get and how you can take it depends on the type of scheme your employer offers you. You can usually take 25% of the money tax free.
If the amount of money in your pension pot is quite small, you may be able to take it all as a lump sum - 25% would be tax free but you’d pay Income Tax on the rest.
Workplace pensions and the State Pension
You can get money from a workplace or other pension on top of the State Pension.
Today the maximum basic State Pension you can get is £115.95 per week for a single person.
‘Automatic enrolment’
A new law means that every employer must automatically enrol workers into a workplace pension scheme if they:
are aged between 22 and State Pension age
earn more than £10,000 a year
work in the UK
This is called ‘automatic enrolment’.
Use the Pensions Regulator staging date calculator to check if the new law applies to you and when you’ll be enrolled. The calculator is for employers but also works for employees.
You may not see any changes if you’re already in a workplace pension scheme. But if your employer doesn’t already contribute to your pension, they will have to start when they ‘automatically enrol’ every worker.
Your employer doesn’t have to automatically enrol you in a workplace pension if you give them evidence of your lifetime allowance protection (eg a certificate from HMRC).
Next
What you, your employer and the government pay
2. What you, your employer and the government pay
If you pay Income Tax, the government will add money to your workplace pension in the form of tax relief.
However, even if you don’t pay Income Tax, you’ll still get tax relief if your pension scheme uses relief at source to add tax relief to your pension pot.
Your employer may also add money. A new law (‘automatic enrolment’) means that employers will have to pay in to eligible workers’ pension schemes - check if it applies to you.
Who pays what
The amount you and your employer pay in depends on:
what type of workplace pension scheme you’re in
whether you’ve been automatically enrolled in a workplace pension
This is an example of how contributions work if you’re in a defined contribution pension scheme.
Example
Each payday:
you put in £40
your employer puts in £30
you get £10 tax relief
A total of £80 goes into your pension each payday.
Work out your contributions using the Money Advice Service’s contributions calculator.
If you’ve been automatically enrolled in a workplace pension
The law says a minimum percentage of your ‘qualifying earnings’ must be paid into your workplace pension scheme.
‘Qualifying earnings’ are either:
the amount you earn before tax between £5,824 and £42,385 a year
your entire salary or wages before tax
Your employer chooses how to work out your qualifying earnings.
The minimum you pay The minimum your employer pays The government pays
0.8% of your ‘qualifying earnings’ rising to 4% by 2018 1% of your ‘qualifying earnings’ rising to 3% by 2018 0.2% of your ‘qualifying earnings’ rising to 1% by 2018
If your employer offers you a defined contribution scheme, the minimum amounts can go up in October 2017 and October 2018.
The minimum amounts could be higher for you or your employer because of your pension scheme’s rules. They’re higher for most defined benefit schemes.
In other schemes you and your employer have the option to pay in more than the legal minimum. You can pay in less - as long as your employer puts in enough to meet the legal minimum.
If you’re not yet automatically enrolled into a workplace pension
Your employer decides the minimum and maximum amounts you and they can pay in. If you pay Income Tax, the government automatically adds tax relief to your contribution.
How your take-home pay changes
Joining a workplace pension scheme means that your take-home income will be reduced. But this may:
mean you’re entitled to tax credits or an increase in the amount of tax credits you get (although you may not get this until the next tax year)
mean you’re entitled to an income-related benefit or an increase in the amount of benefit you get
reduce the amount of student loan repayments you need to make
Previous
About workplace pensions
Next
Protection for your pension
3. Protection for your pension
How your pension is protected depends on the type of scheme.
Defined contribution pension schemes
If your employer goes bust
Defined contribution schemes are usually run by pension providers, not employers. You won’t lose your pension pot if your employer goes bust.
If your pension provider goes bust
If the pension provider was authorised by the Financial Conduct Authority and can’t pay you, you can get compensation from the Financial Services Compensation Scheme (FSCS).
Trust-based schemes
Some defined contribution schemes are run by a trust appointed by the employer. These are called ‘trust-based schemes’.
You’ll still get your pension if your employer goes out of business. But you might not get as much because the scheme’s running costs will be paid by members’ pension pots instead of the employer.
Defined benefit pension schemes
Your employer is responsible for making sure there’s enough money in the pension fund to pay each member the promised amount.
Your employer can’t touch the money in your pension if they’re in financial trouble.
You’re usually protected by the Pension Protection Fund if your employer goes bust and can’t pay your pension.
The Pension Protection Fund usually pays:
100% compensation if you’ve reached the scheme’s pension age
90% compensation if you’re below the scheme’s pension age
Fraud, theft or bad management
If there’s a shortfall in your company’s pension fund because of fraud or theft, the Pension Protection Fund may be able to recover some of the money.
Contact one of the following organisations if you want to make a complaint about the way your workplace pension scheme is run:
the Pensions Advisory Service
the Pensions Ombudsman
Previous
What you, your employer and the government pay
Next
Managing your pension
4. Managing your pension
Find out how much you’ve saved
Your pension provider will usually send you a statement each year to tell you how much is in your pension pot. You can also ask them for an estimate of how much you’ll get when you start taking your pension pot.
What you see on your payslip
You don’t need to do anything to get tax relief on your pension contributions. There are 2 types of arrangements:
net pay
relief at source
Check with your employer which arrangement your workplace pension uses. This determines what you’ll see on your payslip.
‘Net pay’
Your employer takes your contribution from your pay before it’s taxed. You only pay tax on what’s left. This means you get full tax relief, no matter if you pay tax at the basic, higher or additional rate.
The amount you’ll see on your payslip is your contribution plus the tax relief.
You won’t get tax relief if you don’t pay tax, eg because you earn less than the tax threshold.
‘Relief at source’
Your employer takes your pension contribution after taking tax and National Insurance from your pay. However much you earn, your pension provider then adds tax relief to your pension pot at the basic rate.
With ‘relief at source’, the amount you see on your payslip is only your contributions, not the tax relief.
You may be able to claim money back if you pay higher or additional rate Income Tax.
Tracing lost pensions
The Pension Tracing Service could help you find pensions you’ve paid into but lost track of.
Nominate someone to get your pension if you die
You may be able to nominate (choose) someone to get your pension if you die before reaching the scheme’s pension age. You can do this when you first join the pension or by writing to your provider.
Ask your pension provider if you can nominate someone and what they’d get, eg regular payments or lump sums. Check your scheme’s rules about:
who you can nominate - some payments can only go a dependant, eg your husband, wife, civil partner or child under 23
whether anything can change what the person gets, eg when and how you start taking your pension pot, or the age you die
You can change your nomination at any time. It’s important to keep your nominee’s details up to date.
Sometimes the pension provider can pay the money to someone else, eg if the person you nominated can’t be found or has died.
When and how your pension is paid
Most pension schemes set an age when you can take your pension, usually between 60 and 65. In some circumstances you can take your pension early. The earliest is usually 55.
How you get money from your pension depends on the type of scheme you’re in.
Defined contribution pension schemes
You’ll need to decide how to take your money if you’re in a defined contribution pension scheme.
Defined benefit pension schemes
You may be able to take some money as a tax-free lump sum if you’re in a defined benefit pension scheme - check with your pension provider. You’ll get the rest as a guaranteed amount each year.
Previous
Protection for your pension
Next
Changing jobs and taking leave
5. Changing jobs and taking leave
If you change jobs
Your workplace pension still belongs to you. If you don’t carry on paying into the scheme, the money will still be invested and you’ll get a pension when you reach the scheme’s pension age.
You can join another workplace scheme if you get a new job.
If you do, you may be able to:
carry on making contributions to your old pension
combine the old and new pension schemes
Ask your pension providers about your options.
If you move jobs but pay into an old pension, you may not get some of that pension’s benefits - check if they’re only available to current workers.
If you worked at your job for less than 2 years before leaving, you may be able to get a refund on what you’ve contributed. Check with your employer or the pension scheme provider.
Paid leave
During paid leave, you and your employer carry on making pension contributions.
The amount you contribute is based on your actual pay during this time, but your employer pays contributions based on the salary you would have received if you weren’t on leave.
Maternity and other parental leave
You and your employer will continue to make pension contributions if you’re getting paid during maternity leave.
If you’re not getting paid, your employer still has to make pension contributions in the first 26 weeks of your leave (‘Ordinary Maternity Leave’). They have to carry on making contributions afterwards if it’s in your contract. Check your employer’s maternity policy.
Unpaid leave
You may be able to make contributions if you want to - check with your employer or the pension scheme provider.
If you become self-employed or stop working
You may be able to carry on contributing to your workplace pension - ask the scheme provider.
You could use the National Employment Saving Trust (NEST) - a workplace pension scheme that self-employed people or sole directors of limited companies can use.
You could set up a personal or stakeholder pension.
You can get help and advice.
Previous
Managing your pension
Next
If you want to leave your
6. If you want to leave your workplace pension scheme
What you do if you want to leave a workplace pension depends on whether you’ve been ‘automatically enrolled’ in it or not.
If you weren’t ‘automatically enrolled’
Check with your employer - they’ll tell you what to do.
If you’ve been ‘automatically enrolled’
Your employer will have sent you a letter telling you that you’ve been added to the scheme.
You can leave (called ‘opting out’) if you want to.
If you opt out within a month of your employer adding you to the scheme, you’ll get back any money you’ve already paid in.
You may not be able to get your payments refunded if you opt out later - they’ll usually stay in your pension until you retire.
You can opt out by contacting your pension provider. Your employer must tell you how to do this.
Your employer can’t encourage or force you to opt out of a workplace pension scheme.
Reducing your payments
You may be able to reduce the amount you contribute to your workplace pension for a short time. Check with both your employer and your pension provider to see if you can do this and how long you can do it for.
Opting back in
You can do this at any time by writing to your employer. They don’t have to accept you back into their workplace scheme if you’ve opted in and then opted out in the past 12 months.
Rejoining automatically
Once you’ve left your employer’s scheme, they’ll automatically enrol you back into their scheme after 3 years, as long as you still qualify. Your employer will write to you when they do this.
Previous
Changing jobs and taking leave
Next
Get help and advice
7. Get help and advice
For questions about the specific terms of your workplace pension scheme, talk to your pension provider or your employer.
You can get free, impartial information about your workplace pension options from:
the Money Advice Service
the Pensions Advisory Service
Pension Wise if you’re in a defined contribution pension scheme
You can get impartial advice about workplace pensions from an independent financial adviser. You’ll usually have to pay for the advice.
For general questions on workplace pensions contact the DWP Workplace Pension Information Line.
DWP Workplace Pension Information Line
Telephone (English): 0345 600 1268
Telephone (Welsh): 0345 600 8187
Textphone: 0345 850 0363
Monday to Friday, 8am to 6pm
Find out about call charges
Only use the information line if you’re a worker - employers should contact The Pensions Regulator.
Problems with being ‘automatically enrolled’
Contact the The Pensions Regulator if you have concerns about the way your employer is dealing with automatic enrolment.
The Pensions Advisory Service may also be able to help you.
If you’re already paying into a personal pension
Check whether it’s better for you to:
carry on with just your personal pension
stop paying into your personal pension and join your workplace pension
keep paying into both
If you’re saving large amounts in pensions
You may have to pay a tax charge if your total savings in workplace pensions and any other personal pension scheme go above your:
lifetime allowance - £1.25 million
annual allowance - usually the lowest out of £40,000 or 100% of your annual income
If you start taking your pension pot your annual allowance could drop to as low as £10,000.
If your pension scheme is closing
This can happen if your employer decides they don’t want to use a scheme anymore or they can no longer pay their contributions. What happens to the money you paid in depends on the pension scheme you’ve joined.
If you’re getting a divorce
You and your spouse or partner will have to tell the court the value of each of your pension pots. You then have different options to work out what happens to your pension when you get a divorce.
Bet that took a while to type 
If you’re white/ English in your own country of England 
no money in the pot for you! keep voting suckers 
trucken:
Big Truck:
What if your company matched your pension weekly payments 100% or even 50%■■
You’d be a mug not to stay in works pension then!!!Thats exactly what my employer does. They match my contributions £ for £, plus I don’t pay tax on them, so every £1 I pay in is in effect worth £2.20 into the fund. On the strength of this, I’m could retire several years early
Ours is a bit better than that. For every £3 of contributions I make from my salary, my employer pays in £7. Plus of course there’s the tax relief which makes my £3 actually worth over a tenner. Pension provider’s charges are around 0.5% on our scheme. There’s no way sticking your cash in an ISA would yield anywhere near as much.
Roymondo:
Ours is a bit better than that. For every £3 of contributions I make from my salary, my employer pays in £7. Plus of course there’s the tax relief which makes my £3 actually worth over a tenner. Pension provider’s charges are around 0.5% on our scheme. There’s no way sticking your cash in an ISA would yield anywhere near as much.
Sounds like you have a decent employer, And that’s the way pensions should work with your employer putting in the lions share. You need to pay a lot of money in over many years to get a decent pension when you come to retire - from what I have been told, a 100k pot will only buy you an index linked annuity of about 4k if you retire at 65.
Seems to me that anyone whose employer makes a contribution to pension would be well advised to take advantage of that. It`s basically free money! And Roymondo is onto a good thing for sure.
Seems also that everyone should try to plan their own retirement funding. Aging population etc etc. and the existing State scheme is little more than a Ponzi scheme. Plus Governments, of all colours, move the goalposts every budget time, making long term planning impossible. Managing a pension, phone , internet contracts, looking for home insurance, motor insurance, finding good gas and electric suppliers, searching for cheaper banking and credit furnishers etc etc leaves little time to go out work!