5
Workplace schemes: money purchase
What topics are covered in this chapter?
- Will my workplace pension be enough?
- Occupational money purchase schemes
- Group personal pensions and group stakeholder pensions
- Recoup unclaimed higher rate tax relief
- Security of workplace money purchase schemes
- Auto-enrolment and Nest
Money purchase pensions are the fastest-growing type of retirement plan among UK employers. Companies that close down final salary pensions usually replace them with a money purchase scheme, usually with a lower level of contributions. Like personal pensions, they leave the individual exposed to the volatility of the stock market. How much pension you get depends on how much you and your employer contribute, how well your investments ...
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