Should i stay in?

flyeruk wrote: »

Im 61 and have been in the auto-enrolement since it started.I rent my property and earn rhe minimum wage,grossing £15,227 PA. I am paying £33.22 per month pension.
My question is,should i stay enrolled or opt out?Is it really going to be worth it in the end?
Any advice would be very much appreciated.

Your question can be translated as "should i give up on getting free money from my employer ".
Once you see it like that, you can answer the question yourself.

As a rough calculation, over 5 years you would put in just under £2k.
You would get another £500'ish in tax relief and your employer would add something around £1100.
There would hopefully be a bit of growth too.
If you put the money into a cash account you wouldn't earn that much interest over 5 years.
At that point it would still be a "small pot" so 1/4 would be tax free, and the rest taxed at your highest rate - so if you only had the state pension when you retire, you could probably have the lot tax free over a couple of tax years.