A change in the law that affects you
To help people save more for their retirement, the government requires employers to enrol their workers into a workplace pension scheme. This applies to those workers who aren’t already in one, and who
- earn over £10,000 a year (£833 a month or £192 per week); and
- are aged 22 or over; and
- are under State Pension age.
Hanson UK is enrolling these workers into our workplace pension scheme on 1 August 2014.
Why is this happening?
The government’s aim is to get more people to have another income, on top of the State Pension, when they come to retire. The full basic State Pension in 2014-15 is £113.10 a week for a single person.
Employers are enrolling their workers automatically into a scheme to make it easier for people to start saving.
What you need to do now
- If you want to stay in the pension scheme you don’t have to do anything. Your personal details will be passed to Capita Employee Benefits, and your pension will start building from your first payday after 1 August 2014, when the first pension payments will be made. You will be able to see this on your payslip.
- You can choose to opt out of the pension scheme
In addition to the documents linked from the top right hand column see: