Please note: The Auto-enrolment sub-board is now closed. If you have a question around pensions, please post in the Pensions, Annuities and Retirement Planning board.
Forced to change pension scheme
cmr66
Posts: 1 Newbie
Hello,
We currently have a company pension scheme which is quiet good, if the employee pays in at least 1%, the employer pay in up to 8%, (dependant on age of employee).
We have been told that everyone will be auto enrolled onto the Govt Pension scheme and that the current scheme will be cancelled, no other details have been given to us yet, and were sure that the percentage that the employer pay in is going to decrease significantly.
The question is, can the employer force us into another scheme, in which we could be worse off ??
We currently have a company pension scheme which is quiet good, if the employee pays in at least 1%, the employer pay in up to 8%, (dependant on age of employee).
We have been told that everyone will be auto enrolled onto the Govt Pension scheme and that the current scheme will be cancelled, no other details have been given to us yet, and were sure that the percentage that the employer pay in is going to decrease significantly.
The question is, can the employer force us into another scheme, in which we could be worse off ??
0
Comments
-
Depends. It is however worth re-post this on main pension forum since hardly anyone looks into this sub forum. I would hazard a guess and say yes, they can.0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards