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Workplace Pension FAQs

About Workplace Pensions

The government has introduced legislation designed to help people save more for their retirement. It requires all employers to enrol their workers into a workplace pension scheme, if they are not already in a qualifying one.

Benefits of Workplace Pension for Workers

You put in £60 + Employer puts in £45 + Tax relief £15 = £120 going into your pension pot.

The above statement is based on a worker receiving a monthly pensionable pay of £1,500; a 4% contribution from the worker; a 3% contribution from the employer and 1% in tax relief.

Important: The government has set minimum levels for what has to be paid in by the employer.

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