Future Education – Pension Letter


Dear Jessica,


Automatic enrolment into a workplace pension


Automatic enrolment is a new legislation which means that all employers must enroll their workers into a workplace pension scheme automatically. I am writing to you to inform you about this legislation and that it affects Future Education Ltd from 01/10/2015.


A workplace pension is a way of saving for your retirement that’s arranged by your employer. Your employer and the government also add money into the pension scheme for you. The money is then used to pay you an income for the rest of your life when you retire.


Who does it affect?


This legislation affects all UK workers who are not already in a qualifying pension scheme, who are aged between 22 years old and State Pension Age, and who earn more than £10,000-year gross, i.e. Before tax and national insurance deductions.


Why should I pay into a pension?


Most of us are living longer and not saving enough to have the income we’d like in retirement. The state pension is a foundation for your retirement, but you may want more. Saving into a workplace pension means you can continue to enjoy the things you like when you retire.


When you pay into your pension, your employer and the government will too. As your employer will automatically enroll eligible workers into a workplace pension, it’s a hassle-free way of saving while you earn.


Starting to make pension contributions sooner makes saving more manageable – saving smaller amounts over a longer time has less impact on your current lifestyle. Starting sooner also means your pension will be bigger – the earlier you start, the more time your money has to grow.


If I don’t meet the criteria, can I still join pension scheme?


Even if you’re not being automatically enrolled into a workplace pension, you can still ask to join. You might also be eligible to get a contribution from your employer and the government too.





What happens next?


If you qualify, you will automatically be enrolled into Future Education’s workplace pension scheme with NEST pensions. www.nestpensions.org.uk , the work-based pension scheme set up by the government.

If you aren’t eligible to be automatically enrolled, we’ll let you know what your pension saving options are.

If you chose to opt-out of the scheme, please discuss this further with the pension representative at Future Education Ltd.



Yours sincerely,


Pension Administration @ Future Education Ltd