View Full Version : Anybody else in this auto enrollment pension stuff? I am trying to opt out but it's a con
Pat Vegas
01-14-2014, 04:42 PM
I have been auto enrolled and have expressly told my work I do not want any part of it.
'you must be automatically enrolled to opt out' fair enough but they are not giving me a chance to opt out.
Apparently I can only opt out after the first payment is taken. for me this is complete and utter bull****. 'you will receive a refund the next month'
This is theft imo.
Ears are alight
01-14-2014, 04:45 PM
7evens
01-14-2014, 04:46 PM
7evens
01-14-2014, 04:47 PM
Pat Vegas
01-14-2014, 04:51 PM
months of moving abroad. Where I will then start a new one.
I just object to them taking the money first. It doesn't seem right or correct.
Mc Gooner
01-14-2014, 05:57 PM
Seriously :nod:
Bergkamp's Brain
01-14-2014, 07:27 PM
If they take about 5%, it should mean that your take home pay shouldn't change by more than £20 a month and you end up with a tax free investment.
Harry Balls
01-14-2014, 08:08 PM
Usually.
Mc Gooner
01-14-2014, 08:09 PM
It is salary sacrifice but the contributions get tax relief rather than are tax free
The employer also lobs in a few % (4 or 5 is typical) but the total is a bit higher because they don't pay employer NI on the amount
Anyway, as I said before and probably the only time is IS actually true, *****free money *****
Pat Vegas
01-14-2014, 09:18 PM
Pat Vegas
01-14-2014, 09:20 PM
period. I could carry it on abroad I suppose
Mc Gooner
01-15-2014, 11:25 AM
You can consolidate it with your next plan(s) if/when you start one/them
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