Eligible UK employees are automatically enrolled into the Company's workplace pension scheme from the date they become eligible, in line with the automatic enrolment duties under the Pensions Act 2008. Employees may choose to opt out within the statutory window, and can re-join or opt in later.
The Company contributes 6% of qualifying basic salary where the employee contributes at least 4%, which is above the statutory minimum employer contribution of 3%. Qualifying earnings bands, contribution rates and the re-enrolment cycle are set out in the scheme documentation provided by the pension administrator.
Employees approaching retirement are offered guidance on the options available, including the possibility of phased retirement or reduced hours, and can request information about their pension benefits at any time.