Pension - I need something to pay into every month

sillyspendy

Hi Guys

I am 31 and do not earn a lot and my company do not offer a pension. Is there a pension type scheme where I can add say £20 a month or something or am I better off just opening a savings account for my pension?

Thanks

Emma

McKneff

I think that your company have to offer you a pension, if it hasn't come in yet, its a about to happen soon.

Your_Hero

Your company will need to enrol you before the end of the auto-enrolment period (Feb 2018) or sooner depending on their PAYE reference number. They will also need to start contributing a percentage of your salary to your pension (the full contribution rates will be 8% total contribution, of which they need to pay 3%, and the rest is paid by you plus tax relief).

dunstonh

Is there a pension type scheme where I can add say £20 a month or something

Yes there is but £20 limits choice (as most have around £100pm as their minimum). £20 is not really worth the effort unless you are still in your teenage years or younger.

m I better off just opening a savings account for my pension?

That is a bad thing to use for long term retirement provision.
Note the comments in the post above about the auto-enrolment dates.

atush

You should have a savings acct, but not for your pension.

Try to up your contribs to 50 if you can to get better choice. Try cavendish online.

xylophone

https://www.gov.uk/workplace-pensions

When is your company's staging date?

http://www.cavendishonline.co.uk/pensions/