💡 Heads up, UK workers! Martin Lewis just revealed a crucial pension tip that many might not know about! 🚨
Did you know if you earn over £10,000 a year, your employer is required to automatically enrol you in a pension scheme? Under current rules, you’ll typically contribute 5% of your salary, with your employer chipping in another 3%. However, Lewis shares an extra nugget for those aged 18 and over earning upwards of £6,500: opt-in and your employer still has to do the matching contributions! 💰
Here’s the lowdown:
👉 If you’re 22 or older and making more than £10k a year, you’re entitled to automatic pension enrolment.
👉 Employers must match your contributions—totaling at least 8% of your salary into the pension—though you can always contribute more!
👉 If you’re 18+ and earning over about £6,500, choose to opt-in, and your employer must pitch in.
Lewis argues the system should start enrolling people even younger and make everyone eligible, regardless of their income. 📈 Why not start early and let your pension pot grow over time?
So, if you’re new to the workforce or just haven’t taken the pension plunge yet, it might be time to check out your entitlements! 🧐
💬 What do you think—should the pension rules be expanded to benefit even more workers? Share your thoughts below! 👇 #PensionTips #MartinLewis #AutoEnrolment #FinancialAdvice