How do I find out how much my workplace pension is worth?
How much pension do employers pay?
Date Employer minimum contribution Total minimum contribution
------------------------------------ ----------------------------- ------------------------------------
Up until 5 April 2018 1% 2% (including 1% staff contribution)
6 April 2018 to 5 April 2019 2% 5% (including 3% staff contribution)
Current rates - 6 April 2019 onwards 3% 8% (including 5% staff contribution)
How is workplace pension paid out?
In most schemes you can take 25 per cent of your pension pot as a tax-free lump sum. You'll then have 6 months to start taking the remaining 75 per cent - you can usually: get regular payments (an 'annuity') invest the money in a fund that lets you make withdrawals ('drawdown')
How do I contact Standard Life pensions department?
- 0345 606 0835. I want to take money from my Standard Life pension plan. Online (Recommended option)
- 0345 084 5000. Outside the UK:
- 0800 634 7477. Outside the UK:
- 0345 606 0093. Outside the UK:
- 0345 084 5000. Outside the UK:
- 0345 606 0093. Outside the UK:
- 0345 084 5000. Outside the UK:
- 0345 606 0093. Outside the UK:
You can usually start taking lump sums from your pension plan once you reach age 55 (subject to change). You decide how much to take and when to take it, you can even take the full value of your pension plan in one go.
Is Standard Life now Aviva?
Aviva has said it will offer its clients "stability" as Standard Life Aberdeen sells off its life business to focus on asset management. Phoenix will buy Standard Life Aberdeen's book of insurance contracts, including annuities and workplace pensions, as part of a £3bn deal announced last month.9 Mar 2018
Do employers pay pension on all earnings?
Pension contributions are based on earnings that normally include salary or wages, but may exclude variable amounts such as commissions, bonuses and overtime. At a minimum this should include basic pay unless the employer has chosen to base calculations on total earnings.
How often do pensions get paid?
How is it paid? It's usually paid every four weeks in arrears. State Pension is taxable but paid before any tax is taken.