I am being automatically-enrolled/re-enrolled
When you are first automatically-enrolled or when you are
re-enrolled you have important decisions to make about whether you
choose to remain in the Scheme.
Small regular amounts add up over time
You may not have much spare money when you are
automatically-enrolled or re-enrolled, and saving for your
retirement might not be high on your list of priorities at that
Being able to join the LGPS can be an advantage, helping you on
your way to a reasonable level of income when you retire. But the
pension you eventually receive and any other pensions you might
have built up may not be enough for you to retire comfortably
If you can afford it, it may be worth putting away a bit of
extra into your pension each pay day. It doesn't even need to be
much, but whatever you put in will build up over time and, you
could be thanking yourself later on.
out how you can pay extra into your pension.
Whatever decisions you reach about remaining in the Scheme or
opting back out of it you should make sure you receive proper
financial advice before making any decisions.
Get your pension together
You should keep track of all your pension savings during your
career and take time every now and then to plan how much monthly
income you think you will need in retirement. The younger you are
the harder it will be to plan what you might need, but try to work
it out and keep it under review. As you get older you will get a
better idea of how much pension you think you will need and if you
have planned well it will be easier to reach your goal.