Active discussions

Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Talk
Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Original poster

Question about topping up/adding to work pension

5 replies

Bucolicky · 30/11/2020 00:28

I'd like to boost my pension, and wonder how to go about adding more (it's a pension set up through my employer). Can anybody point me in the right direction of how to go about doing this?

Thank you

OP posts:
CayrolBaaaskin · 30/11/2020 01:23

Ask your employer and/or the provider of the workplace pension. No one on here can tell you!

Dashel · 30/11/2020 08:18

My employer sent a letter with the details to me at home with log in details for the pension. It’s with Standard Life and the website is really user friendly and you can make one off payments through the website but when I wanted to increase my contribution automatically I had to email my payroll department work.

nannynick · 30/11/2020 08:32

Is it a Defined Benefit pension with an AVC or is it a Defined Contribution pension?

Does it have good fund choices at low cost? If not then you may want to look at using a separate personal pension scheme. Some workplace schemes are quite high cost, others are not, so you really need to know about the scheme you are in and the fund selection.

Some employers provide salary sacrifice scheme which when paid to pension is more tax efficient. So you need to know how payments into the scheme are made and if you can change the amount that is deducted from your salary.

Talk to payroll/HR/pension scheme administrator. You need to gather information about the particular scheme provided by your employer.

HipHipHooray7 · 30/11/2020 08:44

Hi OP! I just did this last week. My company has an internal internet page which, on the HR section, has a link to the pension providers page where I can log on, find out how much is in my pot and change my contribution choices. There is also an app so I can pop on and see how much it is worth (I know there is no need as can't access it anyway but I find it really fun and motivating being able to see it so that it hasn't just disappeared into thin air from my wages)
Definitely a good move as the money should go into your pension before tax so automatic saving.
As other posters have said, HR should be able to point you in the right direction.

Original poster
Bucolicky · 30/11/2020 17:16

Thanks all - I'll contact HR at my work

OP posts:
New posts on this thread. Refresh page
Swipe left for the next trending thread