Opting out

Being a member of your workplace pension now will help you save for life after work.

We'd like to tempt you to stay, before you opt out please read below what you could miss out on.

Auto Enrolment

Why was I enrolled?

All employers are required by law to set up and enrol all eligible employees into a qualifying pension.

If you do not wish to be a member of the Workplace Pension, you can choose to stop your contributions. If you opt out within one month of being automatically enrolled you will receive a refund of the contributions you have paid and you will be treated as if you never joined.

See what you could miss out on

8%

minimum contribution

You:

Taxman:

Employer:

£1,000

£250

£750

Total:

£2,000

double your money

Figures are based on a salary of £25,000, with a total 8% contribution - 4% of which is contributed by your employer and the tax man.

By contributing £1,000 over a year, equal to £83.33 per month, your contribution will be doubled by contributions from your employer and the tax man if you are eligible.

Find out more

Considerations before you opt out

You'll miss out on regular contributions

Will you have enough money when you retire

Your pension savings are likely to have better returns than bank accounts

Don't assume its too late for your to contribute. Even a small pension pot is better than none at all, especially when your employer, and potential tax relief uplift, is helping too.

Do you still wish to opt out? If so click the button below

Take me to Opt Out