Pension - Can I opt out?

triggerthat · 21 Dec 2015 at 20:40

Hi,

I was given the option to opt out, which I did. However, after opening my payslip, I noticed they deducted 4%. What can I do?

fendi · 21 Dec 2015 at 20:42

speak to your payroll/pensions department.. or post on the internet.

jpod · 21 Dec 2015 at 20:43

Do 4% less work this month

Diddums · 21 Dec 2015 at 20:46

Go to head office and take 4% of everything there. 4% of their staples, paper, coffee cups, tea bags, the lot.

That'll learn 'em.

Caged · 21 Dec 2015 at 20:47

fendi said:
post on the internet

norm · 21 Dec 2015 at 20:47

http://forums.overclockers.co.uk/showpost.php?p=23630730&postcount=33

Mr Badger · 21 Dec 2015 at 20:47

Look forward to a grim old age of grinding poverty?

muttclugg · 21 Dec 2015 at 20:47

Yes - pretty sure you can opt out. Talk to HR/Payroll/the boss.

JBuk · 21 Dec 2015 at 20:47

Diddums said:
Go to head office and take 4% of everything there. 4% of their staples, paper, coffee cups, tea bags, the lot.

That'll learn 'em.

So 100% then?

Freefaller · 21 Dec 2015 at 20:50

What is your reasoning to opt out out of interest?

Mr Badger · 21 Dec 2015 at 20:52

Freefaller said:
What is your reasoning to opt out out of interest?

Presumably it's paying contributions that he wants to opt out of, rather than the interest?

kayomani · 21 Dec 2015 at 20:58

There is probably a reason the gov is opting people into pensions and I am going to guess its not completely to help them in the short term

triggerthat · 21 Dec 2015 at 20:59

Freefaller said:
What is your reasoning to opt out out of interest?

Waiting to be convinced to opt in.

Glaucus · 21 Dec 2015 at 21:03

triggerthat said:
Waiting to be convinced to opt in.

WTF, that you need a pension and company pension is usually by far the best option, as most(not all) match your donations upto a certain percentage.
There shouldn't be an opt out option, far to many people living longer with only state pension.

Trifid · 21 Dec 2015 at 21:07

Mr Badger said:
Look forward to a grim old age of grinding poverty?

At 4% (and at the age of 30) that is hardly going to change... (although every little helps. Would be a little better if the employer matches the contributions too)

ikillbears · 21 Dec 2015 at 22:21

jpod said:
Do 4% less work this month

this is the correct answer

danielanthony · 21 Dec 2015 at 22:30

'Like'

MrMoonX · 21 Dec 2015 at 22:37

i pay 6.7% and my employer 10%, I'm gonna be sweet when I'm 67 or what ever age they change it too when I get there, and you for opting out at 30 are gonna be poor and eating baked beans. Opting out of a company pension at 30 is pretty retarded

Skeeter · 21 Dec 2015 at 22:41

My pension is taken pre tax and my employer matches my contribution. Opting out would be foolish.

Macro · 21 Dec 2015 at 22:43

triggerthat said:
Waiting to be convinced to opt in.