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    Quick pension question

    Hi all,

    I've just received an job offer for a job I'm very keen to take. However, the details in the offer letter state that the company will only start pension contributions "on reaching the age of 30, with one full years service".

    Does this seem unusual? It is a FTSE 250 company with a good reputation...I didn't think that companies stipulated when they would contribute to pensions based on age? I'm still young and this could mean me potentially working there for 9 years without pension...

    Advice would be greatly appreciated.

    Many thanks

    Andrew

    6 Comments

    Doesn't matter wether it is unusual or not does it? If that is their rules then that is what you get

    No company is obliged to offer pensions but they do as a benefit / perk and most outsource them these days anyway. It's up to you to decide whether the pension is a dealbreaker or not. If it's a good job and you're only 21 I'd be tempted to take it rather than gamble on waiting for one with a pension you can start now. That way you gain experience but can still look for another job later on if it really bothers you.

    I can sort of see their point, they're probably trying to save some cash as they would probably have to contribute 3% or so.

    At the end of the day, count yourself lucky to be offered a job you want :-D

    tallpete33;8564033

    No company is obliged to offer pensions but they do as a benefit / perk … No company is obliged to offer pensions but they do as a benefit / perk and most outsource them these days anyway.



    If a firm employs 5 or more employees they may have to make a stakeholder pension scheme available to their staff.

    linuxlinks;8564248

    If a firm employs 5 or more employees they may have to make a stakeholder … If a firm employs 5 or more employees they may have to make a stakeholder pension scheme available to their staff.



    Yes, but does the company HAVE to contribute? They can make one available, and subtract the employee's contribution for them directly, but I don't think there's anything that forces a company to invest.

    Penny Saver;8564285

    Yes, but does the company HAVE to contribute? They can make one … Yes, but does the company HAVE to contribute? They can make one available, and subtract the employee's contribution for them directly, but I don't think there's anything that forces a company to invest.



    I didn't say the firm had to contribute...:whistling:

    Why not take out a private pension?
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