The first time someone mentioned the word "pension" to me I had recently graduated from the university and I was shocked. I was only 22 and this person was asking about my pension. I couldn't be bothered. Little did I knew that time flies! Now,aged over 35, mother of two children, I know the importance of pensions.
Recently the UK governement has made some changes to the pension system. This new legislation requires all employers to automatically enrol some or all members of their workforce (depending on age and salary level) into a pension scheme that meets certain minimum standards. NOW Pensions is an organization set up on a not for profit basis and in collaboration with ATP of Denmark – one of the largest pensions funds in Europe, NOW: Pensions has set out to bring cost-efficiency, performance and simplicity to the UK pensions industry.
NOW: Pensions prides itself on keeping things simple, being straightforward and making it as easy as it can be for both employers and employees.According to a survey
from NOW: Pensions retirement is no longer a rosy prospect for millions of Brits, with one in four (27%) believing that they will face a shortfall in their pension savings. NOW:Pensions suggests that Brits can turn this around with a contribution of 8% which could give you c.42% of your salary when you retire. You can find out more by visiting their website.