Does the employer have an obligation to inform staff about pension

PeacefulWaters

I'd say individuals have a responsibility to seek out details of their employer's pension provision.

But yes, employers have a responsible to raise awareness and auto-enrol.

SomeUser

It is the employer's obligation, written in statute with specific legislative requirements and prescribed timescales IF the employee meets the condition of being a "jobholder" either eligible or non-eligible (all others have a right to join a pension scheme though).

Qualifying employees should be enrolled automatically but they have a right to opt in before enrolment date.

The enrolment date can be "postponed" or scheduled for up to 3 months after becoming eligible. You must be informed that you are being automatically enrolled and you must be advised you can opt out. The communications must contain prescribed information.

However, the smallest companies have not yet all staged. Auto enrolment is being applied to them this year.

lukeboy13

Receiving a small pension from what is now Lloyds formerly worked for the Bank of Scotland.On receipt of my old age pension I now find this abated by 18% through the clawback scheme As this amounts to approx £62 a month really hacked off.Do all banks have same policy for clawback?

PeacefulWaters

lukeboy13 wrote: »

Receiving a small pension from what is now Lloyds formerly worked for the Bank of Scotland.On receipt of my old age pension I now find this abated by 18% through the clawback scheme As this amounts to approx £62 a month really hacked off.Do all banks have same policy for clawback?

Different pension schemes have a different approach. But this may be a mandatory thing.

You maybe better starting your own thread rather than piggy backing an unrelated one.

I assume your state pension has kicked in and this has triggered the reduction. Mrs PW has a similar clause from an old pension with HSBC that costs her a similar percentage. It dates back to pre-1988.