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  • FIRST POST
    • buel10
    • By buel10 30th Nov 17, 11:50 PM
    • 223Posts
    • 26Thanks
    buel10
    Friend has 2 'workplace pensions'???
    • #1
    • 30th Nov 17, 11:50 PM
    Friend has 2 'workplace pensions'??? 30th Nov 17 at 11:50 PM
    Hi all.
    Very briefly, a friend mentioned to me today that he has 'two workplace pensions'. When I asked him what he meant, he said "I have the company one that I signed up to when I joined up and the other one which is a workplace pension'. I asked what he meant as the one he signed up to when he joined the company was his workplace pension and he said "The other one is the one that you have to join and I can't opt out'.

    Please can I as if anyone has any idea what he could mean?
Page 1
    • Dazed and confused
    • By Dazed and confused 1st Dec 17, 2:44 AM
    • 2,629 Posts
    • 1,258 Thanks
    Dazed and confused
    • #2
    • 1st Dec 17, 2:44 AM
    • #2
    • 1st Dec 17, 2:44 AM
    "The other one is the one that you have to join and I can't opt out'.

    State Pension. If you're earning enough you can't avoid paying the National Insurance
    • enthusiasticsaver
    • By enthusiasticsaver 1st Dec 17, 8:23 AM
    • 6,601 Posts
    • 13,820 Thanks
    enthusiasticsaver
    • #3
    • 1st Dec 17, 8:23 AM
    • #3
    • 1st Dec 17, 8:23 AM
    Maybe he makes AVCs on top of his occupational pension?
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • xylophone
    • By xylophone 1st Dec 17, 9:47 AM
    • 25,555 Posts
    • 15,091 Thanks
    xylophone
    • #4
    • 1st Dec 17, 9:47 AM
    • #4
    • 1st Dec 17, 9:47 AM
    Perhaps there was originally a DB scheme which is closed and he now contributes to a DC Scheme?

    Perhaps an old DC scheme was closed and an auto enrolment compatible scheme opened?
    • choccielover
    • By choccielover 1st Dec 17, 5:33 PM
    • 384 Posts
    • 1,349 Thanks
    choccielover
    • #5
    • 1st Dec 17, 5:33 PM
    • #5
    • 1st Dec 17, 5:33 PM
    Unless he originally paid into a company pension scheme and then the company started an auto enrolment scheme and he either thinks he has one of these too or he was mistakenly enrolled into this also and so does have 2 schemes
    • TrustyOven
    • By TrustyOven 1st Dec 17, 6:45 PM
    • 709 Posts
    • 738 Thanks
    TrustyOven
    • #6
    • 1st Dec 17, 6:45 PM
    • #6
    • 1st Dec 17, 6:45 PM
    Unless he originally paid into a company pension scheme and then the company started an auto enrolment scheme and he either thinks he has one of these too or he was mistakenly enrolled into this also and so does have 2 schemes
    Originally posted by choccielover
    Why would that be a mistake though?
    Can't you have 2?
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    • buel10
    • By buel10 1st Dec 17, 6:49 PM
    • 223 Posts
    • 26 Thanks
    buel10
    • #7
    • 1st Dec 17, 6:49 PM
    • #7
    • 1st Dec 17, 6:49 PM
    Finally got it, my friends:
    One pension contribution was 'EE' and the other was 'ER'. Obviously I explained to my friend that one was Employer contribution and the other was Employee contribution. Drama over

    Sorry for the confusion.
    • MoneySavingUser
    • By MoneySavingUser 1st Dec 17, 8:34 PM
    • 1,625 Posts
    • 647 Thanks
    MoneySavingUser
    • #8
    • 1st Dec 17, 8:34 PM
    • #8
    • 1st Dec 17, 8:34 PM
    Finally got it, my friends:
    One pension contribution was 'EE' and the other was 'ER'. Obviously I explained to my friend that one was Employer contribution and the other was Employee contribution. Drama over

    Sorry for the confusion.
    Originally posted by buel10
    TBH what you originally described does seem somewhat common. I have come across people who were in one pension scheme when they joined. Then auto-enrolment came along and a new scheme was started and they are in both now!
    • capital0ne
    • By capital0ne 2nd Dec 17, 5:12 PM
    • 524 Posts
    • 254 Thanks
    capital0ne
    • #9
    • 2nd Dec 17, 5:12 PM
    • #9
    • 2nd Dec 17, 5:12 PM
    Ask to see the schemes handbooks
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