PENSION SCHEME
It may feel like a really long way off, but the sooner you start saving for your pension, the more money you’ll have when you retire. Scrutton Bland offer their workplace pension through Scottish Widows and all employees are automatically enrolled onto the scheme once you meet the eligibility criteria. Please refer to the Workplace Pension Legislation to find out more. Rather than operate a pension scheme where your contributions are deducted from net pay (referred to as tax relief at source), Scrutton Bland has established a salary sacrifice scheme, meaning that your contributions are deducted directly from your wages. The minimum total contribution to your pension is 8%. When you join the scheme, this will be made up by 3% from Scrutton Bland and 5% by you (the employee) if you are below M3 level. If you are at M3 level or above the Scrutton Bland employer contribution will be 5%. If you are an employee under M3 level once you have two years of service the contribution from Scrutton Bland will increase to 5%. You are able to adjust your workplace pension contributions at any time by emailing employeebenefits@scruttonbland.co.uk. On joining the pension scheme, Scottish Widows will write to you to confirm the detail of the pension plan. If you wish to transfer another pension to your new scheme, they will include details on how to do this. If you don’t meet the eligibility criteria and wish to join the pension scheme please email employeebenefits@scruttonbland.co.uk. Please note: By law we are unable to provide you with pension advice and you should contact an Independent Financial Adviser for guidance and information on pensions. Alternatively, please see the resources below: Click here for a video from Scottish Widows on how much you should be saving each month. A short video provides information on the Lifetime Allowance. You can find out more by scanning the QR code above.
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