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Auto Enrolment Workplace Pensions a Win Win for Employees

  • Posted by Rizwan on April 19th, 2015 (Pensions)

Every eligible employee will be able to join a workforce pension, gaining tax relief on contributions and more importantly getting an employer contribution. For example if an employee contributes 80pence, they will receive 20 pence tax relief from the taxman and a further £1 contribution from their employer; suddenly this contribution of 80 pence turns into £2.

I completely understand that ever employee circumstances will be different and some of you may want to save a home or put your children through higher education; but I strongly believe workplace pensions are a good starting point for long term savings.

Another plus point is the freedom you now get taking your retirement benefits; the pension reform allows you to take money from your pension in a similar way to a bank account. Please bear in mind only the first 25% is tax free and the remaining is taxable at your marginal rate of tax.

Finally please do contact us if you are interested in attending our free seminar in London, Manchester and Preston on Workplace Pensions.

Written by Rizwan

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