FAQs

If your workplace pension is your only source of income when you retire, apart from your State Pension, it’s quite likely that the minimum amounts paid in by you and your employer won’t be enough for a comfortable retirement.

If any of the details are incorrect for an employee and you’ve not yet submitted these, you can go back and amend them at any time.

After your one month opt-out period you won’t be able to access your funds until your normal minimum pension age unless on the grounds of serious ill health (life expectancy is less than 12 months).

This term refers to the limit on the amount you can save into your pension each tax year and get tax relief on.

If your pension contributions have been deducted from net pay (after tax has been deducted) and you’re a higher rate taxpayer (eg paying 40% tax), you can claim your tax back in two ways.

If the qualifying earnings basis is being used, the minimum contribution is 8% with at least 3% from the employer on qualifying earnings falling between upper and lower earnings limits of £6,240 and £50,270 a year.

You can ask your employer if they’re able to organise for you to reduce your contributions instead, to below the minimum contribution levels.

You can make sure your loved ones and/or a favourite charity receives your pension savings if you die before you take them.

Employees can leave the pension scheme – also known as ceasing contributions – at any time they choose.

"Can I pay more than just the minimum into my pension?"

"What if I make a mistake with an employee’s details?"

"Can I get my money back (that I’ve paid in)?"

"What’s the money purchase annual allowance (MPAA)?"

"How do I claim higher rate tax relief on my contributions?"

"How much do I need to pay into my employees’ pension?"

"Can I reduce my contributions?"

"What happens to my pension savings if I die?"

"How should I handle employees that leave the pension scheme?"