My small business is merging with another larger business and we are losing quite a lot of our (small) benefits, but, it is what it is.
I’m quite naive about pensions- I currently pay in £81 per month and my employer contributes £75.
My new employer is offering to pay £253 per month as a contribution if I increase my contribution to £150 per month.
Is this a wise move? Short term my cash flow isn’t Great (£30k salary) and on my own with kids with additional needs and costs, so I wouldn’t normally choose to increase my contribution by £70 per month but is it worth it given the increase my new employer is offering?
(if I don’t agree to increase my payment their contribution will stay the same as my current employer contributes)
I know pensions are a Rocky area so I’m not sure what’s best to do. Thank you.