Company Pension

Will your company help out? If you are an employee then your company may well have a good pension scheme you can join – all firms with at least five employees must either run a pension or direct you to a specially nominated scheme so ask for details. Signing up to your company’s plan brings plenty of benefits.



First it might make contributions on your behalf so the money you pay in is topped up to produce an even bigger pension pot. Second, it might be the kind of pension when your retirement income is based on your salary, not on stock market performance – this can be a very valuable proposition. Thirdly, if you’ve got an in-house scheme then your company is likely to cover its admin costs and charges even if it won’t make contributions on your behalf. So you get a benefit that way at least. If you are a civil servant or in the public sector then your pension is likely to be among the best around – it’s hard to come up with a single reason why you shouldn’t join it.

We’ve got a lot more detail on different types of company pension schemes later on.