26
Mar
2016
A question about : Auto Enrolment Query
My wife has been offered what of the face of it seems a good deal by her employer under auto enrollment where she will pay in 8% of her salary and they would put in 16% of her salary into her pot.
She would come out of SP2 where she has built up quite a good second state pension My main concern is that as she only has 2 1/2 years until she retires the final pot will not be be very large so will she be better off opting out and staying in SP2????
Best answers:
- I have just looked at the paperwork again and there are 3 different levels only the one I have described (the top level) is a DB scheme
the pension is accrued at 1/60 average earnings so she will only build up 2/60 of earnings which is not a lot!
She can opt for this screme or take the other options where she can pay between 1% & 4% of salary into a DC account
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