The Company operates an occupational pension scheme (defined contribution) and will automatically enrol you into this scheme once you’ve been employed by the Company for 13 weeks/3 months, provided that you are aged between 22 and the state pension age and are a UK tax payer. (Even if you do not currently meet these eligibility criteria you can still join the pension scheme but you will have to request this via the HR department as you will not be automatically enrolled).
Once you have been automatically enrolled, you and the Company are both required to make contributions into this scheme at the minimum levels required by the current pension regulations.
If you remain a member of the pension scheme for a minimum continuous period of 12 months (from the date of your automatic enrolment) you will be given the opportunity to benefit from a considerably enhanced employer contribution through increasing your own contributions. Please note there are 2 entry points in the year (currently May and November) and you will be given the opportunity to benefit from these higher rate contributions at the first entry point after completing 12 months’ in the auto enrolment scheme.
You may choose to opt out of the pension scheme at any time after you have been automatically enrolled. Details on how to do this will be provided directly by the scheme provider upon your auto enrolment.
Further information on pensions, including the current contribution levels, is provided by the HR department during the new employee induction process.