Your Pension Options

As part of our workplace pension scheme, you are entitled to automatic enrolment if you meet the eligibility criteria. You also have the option to opt in to the pension scheme or opt out if you do not wish to join.

Qualifying Earnings and Contributions (Weekly Pay)

Your pension contributions are based on your qualifying earnings, which is the portion of your weekly pay between £120 and £967.12.
Contributions will be deducted from your pay each week.

As part of the workplace pension scheme:

– Employer contribution (Us): 3% of your qualifying earnings

– Employee contribution (You): 5% of your qualifying earnings

Example:

If an employee earns £500 in a week:

– Qualifying earnings = £500 − £120 = £380

– Employee contribution (5%)= £19

– Employer contribution (3%)= £11.40

– Total pension contribution: £30.40 for that week

Contributions are calculated weekly based on your qualifying earnings for that pay period.