With auto enrolment, your employer sets up your pension scheme and both you and your employer will normally make contributions. When you reach 55, you then have choices around how you use your pension funds.
Employers don’t have to enrol everyone they employ. To qualify to be auto enrolled you must meet a set of criteria. If you don’t meet this criteria, but you’d still like to enrol in a workplace pension, just contact your employer who will be able to talk you through your options.
If you’re not sure how much you’ll be paying into your pension, your employer will be able to let you know.
Your employer might have chosen Welplan Pensions to fulfil their duties under auto enrolment. That means you might have been enrolled in a Welplan Pension, which gives you the added benefit of contributions from your employer. If you earn over a certain level of earnings, you might also qualify for tax relief from the government.
If you’d rather not be enrolled in a workplace pension, you can opt out. It’s worth remembering that, if you stop contributing towards your pension, your employer will stop contributing too.
Don’t worry if you move employer, you have lots of options that are explained