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Pension when employed as well as self-employed

3 replies

Jokat · 26/04/2024 11:19

I hope someone can shed some light. I've been self-employed for many years. But in the last few years, I have also been employed part time, where I automatically pay into a pension scheme. This is not something I set up, it just automatically gets paid before my earnings hit my account, just like everybody else who works there.

As a self-employed person, I know I will be entitled to a state pension. I contacted them recently to find out how much I will be receiving. The lady told me and said, in x number amount of years I will have worked long enough to be entitled to this, and after that I will still have to pay National insurance, but the amount of pension won't increase any further.

Here's my question (which I forgot to ask her at the time): Is the pension I'm paying into via my employment also state pension (and therefore isn't adding to its value), or is it something different and will be added to the amount of state pension I will receive for my self-employed work?

Many thanks for reading.

OP posts:
Jokat · 26/04/2024 11:22

By the way, I'm always setting 10% of my self-employed earnings aside into a pension pot as well, so I won't just be relying on the state pension.

OP posts:
ChessieFL · 26/04/2024 11:27

The pension through your employment is a workplace pension scheme which is on top of your state pension. You should find out where this is held and get the details so you know how much it’s worth.

Jokat · 26/04/2024 11:37

I do have some paperwork from that company. I wasn't sure if that company is just handling it for the state, if you know what I mean.
This is great news, thank you! I shall find out how much it will be. It won't be a lot as I haven't been there that long, but every little helps!

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