Pensions......Auto Enrolment......Tax relief. It all sounds a bit technical but don't worry it needn't be. Workplace Pensions are really simple.
Millions of workers are being automatically enrolled into a workplace pension by their employer. Once you’re enrolled, not only will you pay into it but so will your boss and you may also get tax relief from the Government.
This is to make it easier for you to start saving. If you are eligible, the earlier you start saving the more you’re likely to have when you reach retirement.
Saving into a workplace pension is easy – you don’t have to do anything as you will be automatically enrolled by your employer.
You can opt out if you want to, but that means losing out on employer and Government contributions – and if you stay in, you’ll have your own pension that you receive when you retire.