Saving for retirement is something you do bit by bit, over time. Put simply, the longer you pay contributions and the longer they have to grow the more you could have when the time comes to retire.
It’s always a good idea to check in and look at how much you are paying and how much the Partnership is paying too.
Do you know that the Partnership will match your contribution by up to 8%. So, you could benefit from a contribution to your pension pot of up to 16%.
When you join the Partnership, you’re automatically enrolled in the DC Section, you pay 4% and the Partnership pays 4% too.
But you can get even more by increasing your contribution and you’ll get more from the Partnership too!
And once you’ve been at the Partnership for four years, the company will put in an extra 4% each month. So, you could get a contribution of up to 20%!
You can check how much you’re paying into your pension pot on your monthly payslip.
If you would like to know your contribution rate, this can be found on Workday, and instructions on how to change your contributions can be found under ‘Managing your Contributions’ on OnePlace.
