Clueless about auto enrolment

Thrugelmir

HappyBirthday said:

3. I think I will live longer than the average.

As you get older you'll be surprised at those that fall by the wayside around you. There's no rhyme or reason. 

kinger101

Albermarle said:

Pros
Stingy employer is forced to cough up 3% of my net salary in contributions to bump up the private pension.
I get some an extra £1 in tax relief for every £4 I put in.

I don't trust my employer to manage my money. Could they fiddle it somehow by having a relationship with the pension provider?

So you pay £4 and get £8. Probably pay 15% tax when you take it ( 25% tax free and the rest at 20%) so you are left with £6.80.
If you pay £4 into your ISA , you have £4 . Not sure what you are complaining about .

Your employer does not manage your money and if you leave the company the pension comes with you .

It's actually better than that.  OP is giving up £3.20 of net income now to get that £6.80 of net income in retirement. A 112.5% gain on day one.

p00hsticks

2. I have my own considerable 'pension pot' in ISA's.

If you have been abroad for 'many, many years' (and presumably not able to add to your ISAs in those years) and given the annual limits on ISA contributions, are you really confident that there is sufficient there to finance a 'longer than average' retirement ?

HappyBirthday

Thanks for the replies. It seems the general consensus is stay in. 
Does anyone why there are 4 parties? Me (the employee), the employer, Standard Life and a wealth management company. 

badmemory

Nothing to do with pensions but just wondering why, if you have so little trust in your employer that you think they may "steal" your (& their)  pension contributions - why are you going to work for them?  

JoeCrystal

HappyBirthday said:

Thanks for the replies. It seems the general consensus is stay in. 
Does anyone why there are 4 parties? Me (the employee), the employer, Standard Life and a wealth management company. 

Because it needs to be set up and maybe an adviser for the employer on how to do it? Perfectly normal.

HappyBirthday

badmemory said:

Nothing to do with pensions but just wondering why, if you have so little trust in your employer that you think they may "steal" your (& their)  pension contributions - why are you going to work for them?  

Your question assumes that I have a range of jobs and employers to choose from.

Also scepticism of the boss' intentions and actions is a long-standing British tradition.