# workplace pension ..



## sideswipe (Jan 19, 2012)

Hi , My employer has basically told us that this new scheme isn't worth the money and it's only there to top your existing state pension..Been advised to opt out and sort of been told it's either pay into it or have pay rises cannot have both!!They are looking out for their future not ours it seems,what to do ??
thanks ..


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## empsburna (Apr 5, 2006)

Get some independent advice from a decent financial advisor.


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## stuartr (Mar 11, 2014)

Any additional pension is better than none. You get tax relief on contributions and if your employer contributes then even better.


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## R7KY D (Feb 16, 2010)

Try this , It will confirm exactly what your employer said ....NOT

https://www.moneyadviceservice.org.uk/en/tools/workplace-pension-contribution-calculator


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## kh904 (Dec 18, 2006)

I will be opting out of the workplace pension.
It's more worth it if your are a high rate tax payer but for the average employer on the basic tax rate will benefit little if at all one you take into account inflation.

Even the head of finance (ACCA accountant, auditor etc) and head of HR at my work are opting out. They have said the same thing. The only guaranteed winners are the fund managers and stock market.

Also watch out for the fact that your contribution increases over the years, so you need to think of opportunity costs.

Having said that, everyone's situation is different, and do some proper research on the pros and cons.


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