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What if I move jobs?

You may be automatically enrolled into a new workplace pension. This will depend on the size of your new employer, when you move, and if you meet the criteria listed in question one. Very large employers will automatically enrol all new workers who meet the criteria from late 2012/early 2013 onwards. Smaller employers will ...

Posted 6 years ago at 14:33 by Common Questions

careerz 360 answered at 09:32 10-04-2018

exactly, you right .

I want to know more about workplace pensions:

There’s no perfect answer for where to put your money for later life. Each type of saving and investment works differently and has its own pros and cons. But for most people it’s better to do something, such as pay into a workplace pension scheme, than do nothing.

Posted 6 years ago at 14:37 by Common Questions

Are pensions safe?

No savings, including pensions, are never entirely risk-free. However, the government has put an increasing number of controls in place designed to minimise the risks. This means your money is better protected than in the past.

Posted 6 years ago at 14:36 by Common Questions

  What if I’m not sure it’s for me?

For many people, paying into a workplace pension scheme is a good idea - even if they have other financial commitments, such as a mortgage or a loan. This is because you’re not the only one putting money in. Your employer has to contribute too, provided you earn more than a certain amount (£5,668.00 a year in 2013-14).

Posted 6 years ago at 14:35 by Common Questions

I had a workplace pension in a previous job, what should I do about that?

You could leave it where it is. You will get it when you retire, so long as you were in the pension scheme long enough. The length of time needed will be in the pension scheme rules. Or you might be able to combine it with your new workplace pension. If you’re considering doing this, you need to check with your current pension ...

Posted 6 years ago at 14:35 by Common Questions

I’m paying into a personal pension already, what should I do?

It’s possible to have both a workplace pension and your own personal pension, so you could choose to continue paying into both. Or you might choose to continue with just one of them. It depends on your circumstances - for example, what you can afford and what your personal and workplace pension schemes are offering.

Posted 6 years ago at 14:35 by Common Questions

Can I take the money out

Currently, most people can’t take money from any pension scheme until they are aged at least 55. The exact age you get your pension depends on the rules of the scheme. To find out, check with whoever runs your pension scheme.

Posted 6 years ago at 14:34 by Common Questions

What happens to my pension if I die before retiring?

The rules vary depending on the type of scheme. Find out from whoever runs your pension whether you can nominate (choose) someone to receive the money if you die and how much they would get.If you can nominate someone, whoever runs your pension should ask you to confirm in writing who that person is when you first join the ...

Posted 6 years ago at 14:34 by Common Questions

What if I become self-employed or stop working?

Nowadays lots of people move jobs several times in their working lives, so it’s important to keep track of the pensions you have. Keeping your statements will help you do this. If you have lost track of a pension, the government’s Pension Tracing Service could help provide you with the contact details for that pension.

Posted 6 years ago at 14:34 by Common Questions

Will it be enough?

Being in a workplace pension means you’ve taken an important step towards giving yourself the lifestyle you would like in later life. You may want to start thinking about the things you will need money for in retirement such as paying bills, transport and buying food, and the things you may also want to do

Posted 6 years ago at 14:33 by Common Questions

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