4 reasons you might not have a pension from that job
Mar 7, 2024
‘Last week, on Penny’s micro blog’…
-cue the 2-minute recap awash with explosions, smooches and one liners-
…Ok maybe not. Oh well, a micro blogger can dream. 🤩
Anyway, if you can remember, in a previous blog, we learnt all about the joys of auto enrolment. There are, however, some exemptions and the main 4 are as follows:
If you’re under the age of 22, you do not qualify. Feel free to set up your own savings plan though. One less jager-bomb on Friday night and you’ll be grateful when you’re older. Trust me.
Similarly, if you earn less than £10k per year in the job, you are also out of the scheme. Unlucky part timers.
If you were working at the job before the Government launched auto-enrolment, it’s unlikely you have a pension. Sorry old-timers.
Ultimately you can opt out. We’d really recommend thinking twice before you do this, but it is your money at the end of the day so it’s up to you.
If you’re not sure if you qualify and all this is giving you 4 reasons to scratch your head, just sign up to Penny and we’ll find out for you. It’s what we do. 😊