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Pension contribution
tali
Posts: 709 Forumite
Working part time i don't earn enough to auto enrol, but i want to contribute to a pension.
My employer says i can do 3% of qualified earnings , or a fixed amount of at least 3% -which option would be be better (i can afford to put away above the 3%)
However pension site says Your employer will not automatically enrol you into a workplace pension scheme but you can choose to join. If you do so, your employer will not be obliged to make contributions.
So, if my employer doesn't make contributions , i assume there is no point starting the pension?
My employer says i can do 3% of qualified earnings , or a fixed amount of at least 3% -which option would be be better (i can afford to put away above the 3%)
However pension site says Your employer will not automatically enrol you into a workplace pension scheme but you can choose to join. If you do so, your employer will not be obliged to make contributions.
So, if my employer doesn't make contributions , i assume there is no point starting the pension?
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Comments
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Working part time i don't earn enough to auto enrol, but i want to contribute to a pension.
So, if my employer doesn't make contributions , i assume there is no point starting the pension?
Why do you want to start a pension? Presumably to have some savings in later life, made in a tax efficient way. Even if your employer doesn't contribute, why not do just that for yourself - what's the better alternative?0 -
Working part time i don't earn enough to auto enrol, but i want to contribute to a pension.
My employer says i can do 3% of qualified earnings , or a fixed amount of at least 3% -which option would be be better (i can afford to put away above the 3%)
However pension site says Your employer will not automatically enrol you into a workplace pension scheme but you can choose to join. If you do so, your employer will not be obliged to make contributions.
So, if my employer doesn't make contributions , i assume there is no point starting the pension?
That means they don't have to, not that they won't.
A decent employer will - have you asked them (nicely)?The questions that get the best answers are the questions that give most detail....0 -
Which auto enrolment scheme is your employer using?0
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Why do you want to start a pension? Presumably to have some savings in later life, made in a tax efficient way. Even if your employer doesn't contribute, why not do just that for yourself - what's the better alternative?
The pension is being used as another layer of investment , as yes, i do have other savings and investments.
Employer has said they will contribute 2%0 -
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Who mentioned salary sacrifice?and NI relief
Without salary sacrifice there is no saving of NI.0
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