Workplace pensions in Tamworth

I recently received figures that show that around thousands of people across Tamworth are now enrolled in a workplace pension, saving for retirement.

Auto-enrolment was introduced so that workers can save more and have greater financial security and independence in their retirement.

By introducing automatic enrolment, we have enabled 10 million people, including 10,000 people in Tamworth to save for their future.

Our balanced approach to the economy as well as important changes to help people save more for their retirement, means more families can plan for the long-term with the security of a pension.

For a whole generation, workplace pension saving is now the new normal, but there is more to do to help more people than ever before build an enjoyable and secure retirement.

Workplace pensions are automatic and arranged by your employer.  They work by placing a percentage of your pay into the scheme every pay day, in most cases the employer will also add additional funds to the scheme for you.  The Government will usually also add more money in the form of tax relief.

Everybody classed as a worker, aged between 22 and state pension age and earning at least £10,000 a year is likely to be eligible. 

If you believe you should be in a scheme or would like more information call the DWP Workplace Pension Helpline on 0800 731 0372 or if you are an employer unsure who to add to the scheme, contact the Pensions Regulator.