Workplace pensions

[Since64]

My son has worked for two small companies in the last six months the first for over four years neither offered him a workplace pension,just wondering cause l thought it was to become law to be offered one?

[Wales-Bales]

Wrong forum.

[Splott David]

My son has worked for two small companies in the last six months the first for over four years neither offered him a workplace pension,just wondering cause l thought it was to become law to be offered one?

This may be of interest to him.

https://www.crunch.co.uk/blog/freela...uto-enrolment/

[Since64]

This may be of interest to him.

https://www.crunch.co.uk/blog/freela...uto-enrolment/

Thanks for that l guess his employer his holding out till the last possible moment,but lm sure he knows it's the law.

[Since64]

Wrong forum.

Oh beg your pardon but l thought it was a question leaning more towards all things political more than all things CCFC

[Wales-Bales]

Oh beg your pardon but l thought it was a question leaning more towards all things political more than all things CCFC

I though it got moved here as anything non-football or non-iPhone gets shunted over here from the main forum

Besides that, your question is financial and not political, so you'd probably get better information on the main forum

[Since64]

I though it got moved here as anything non-football or non-iPhone gets shunted over here from the main forum

Besides that, your question is financial and not political, so you'd probably get better information on the main forum

Fair comment thanks

[Since64]

He'd be better off putting any pension contribution into a mortgage, I dont think returns you get for what you'd expect back justify the investment.

EG your son puts in 3% - the employer puts in 3% , average wage of 2k a month that is £120 contribution a month.
To get a liveable return on that money your pension company has to turn £120 into around £800 every month - Im not aware of any stocks or shares or any other investment that gives that level of return. With interest rates at a record low and inflation also low - bricks and mortar would be a better option - in my non financial adviser opinion - but what the feck do I know

Thanks for that any advice is welcome l guess even at my age you still worry about your kids

[Wales-Bales]

Thanks for that any advice is welcome l guess even at my age you still worry about your kids

You probably don't want to read any of the threads on this forum then, the end of the world is nigh

[Barry Dragon]

Its rolling out now. Not compulsory, though worth him speaking to his HR, or manager.

why is this in Politics forum?

[LordKenwyne]

The company I work for legally has to set up every scheme.

Then the employees choose whether to continue or opt out.

Big employers with huge work forces must be paying an absolute shed load of money on legal fees to set them yp.

[Barry Dragon]

The company I work for legally has to set up every scheme.

Then the employees choose whether to continue or opt out.

Big employers with huge work forces must be paying an absolute shed load of money on legal fees to set them yp.

Its being filtered in with the biggest employers having to have got this up and running already. Small and medium companies should by now be looking at getting this into place, but the deadline has not passed yet. So the OP's son will be offered one soon, but its not compulsory for smaller businesses

[Barry Dragon]

Just checked my date. Which I imagine as a 1 employee business would be one of the last to have to comply. I have to comply by 1 July 2017.