Qualified advisers answering your
Financial Questions
for FREE within 60 minutes*

Are pensions compulsory ?

Around 268,000 employees in the UK don't have a pension. At the moment, having a pension is not compulsory; however this is subject to change and suggested schemes such as the Government’s Personal Account could mean that in the future we are required to hold a pension scheme. As an example, the Personal Account scheme would have an "opt out" option, but every employee in the UK will be enrolled into the scheme initially which will demand a payment of 4% of earnings.

However something that those in the financial advice industry, as well as those within the Government, are trying hard to communicate is that although pensions are not currently compulsory, everyone should start a scheme as soon as they possibly can in order to receive the maximum benefits from the growth of the fund.

Share this..

Related stories

Ask your question now!

Ask your question in the box below

Contact details are required so we can respond to your question

Allow 60 minutes* for a response from our UK qualified advisers

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Winter money saving tips

Sometimes in winter all you want to do is turn the heating up, snuggle under a blanket and stay inside- but this can be an expensive habit. We have spoken to two dedicated parent bloggers, Cat and Helen, who have provided us with their best winter money saving tips.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details