Your employer is legally required to enrol all eligible employees into a qualifying workplace pension scheme; this is part of the UK government’s automatic enrolment legislation designed to help you save for retirement.
Being enrolled doesn't mean you're locked in. If you decide a pension isn’t right for you at the moment, you have the option to opt out within one month of being enrolled, or cease contributions at any time afterward.
However, it’s important to understand the implications:
You’ll miss out on employer contributions, which are essentially extra money added to your pension pot.
You’ll lose out on tax relief from the government – another boost to your savings.
Future retirement savings may be affected, as pensions are one of the most effective ways to build long-term financial security.
We’re here to help you make informed choices – if you have questions or need support, our team is just a message away.