The state pension isn’t likely to go very far in funding a comfortable retirement, so a pension scheme can be essential in ensuring you have enough cash to spare in your later years.
The government has recently introduced legislation that will require all employers to enroll their staff in a pension scheme automatically by 2018. Both employer and staff will have to pay a minimum of 1% of your salary into the scheme and you will have to opt-out if you don’t want to be part of it.
Defined Benefit Schemes
‘Defined Benefit’ schemes are one of the...