Frequently asked questions.

What State Pension will I receive?

On 6th April 2016 the State Pension was fundamentally changed for people whose State Pension Age falls on or after that date. Your entitlement to State Pension, and when you will receive it depends on a number of factors. The simplest way to get more information including a forecast of your State Pension entitlement is through the Government website.

What kind of pension scheme has my employer provided?

To complement your state pension your employer has set up a private pension with Legal & General to help you save for your retirement. This website contains useful documents to help you decide if saving into this particular pension is right for you.

With this pension, you can pay contributions regularly which are invested to build up your own pension pot.

How much is it going to cost me?

This will depend on the contribution rates that have been set by your employer for the scheme and on the amount you earn. To find out how much it's going to cost you each month please refer to your scheme documents or talk to your employer.

How much will I have available in my pension pot when I retire?

This will depend on a number of factors, including the number of years that you contribute to your pension, how much is paid into your pension pot over that period of time, the charges deducted, and any investment growth.

The more contributions that are paid into your pension pot, the more you're likely to have available at retirement. You can normally take up to 25% of your pot tax-free with the rest taxable as income.

Use the Retirement Planner to see how much pension pot you could have available when you retire based on your monthly contributions.

Can I contribute more to my pension scheme?

You may have the opportunity to pay higher contributions to your pension by increasing your monthly contributions or by making a one off lump sum payment. Please contact your employer for more information.

What happens if/when I leave my current employer?

Legal & General will contact you to tell you all the options that are available to you.

How do I change my retirement age?

Your employer may have set your retirement age for you, for example to age 65, but you can change it to a different age. The earliest you can choose is your 55th birthday.

Your retirement age is used for illustration purposes (estimating how much you'll get when you come to take your pension), and is also used in conjunction with a lifestyle investment option. It is therefore important that your retirement age reflects your plans.

So, if at any time you'd like to change your retirement age all you need to do is call the Legal & General helpline which you can find on the Contact us page.

What should I do if I’m close to retirement age?

When you come to access your pot, free and impartial guidance is available to you from an independent government service called Pension Wise to help you understand your options. Visit their website for more information.

If you’re still unsure about your options we recommend you speak to a financial adviser. You can find one in your local area by visiting Unbiased. Please note, financial advisers will usually charge a fee for their services.

How do I join my workplace pension scheme if I’m not already a member?

You should contact your employer if you are not already a member of their workplace scheme and they will tell you when and how you are able to join.

What if I still need help?

There are some useful tools that you can use to help you plan your finances.

If you have any other questions then please call the Legal & General helpline which you can find on the Contact us page.

My contact details have changed, what do I do?

You can log onto Manage Your Account and 'Manage your details' options from the 'Your details' menu at the top of the page. You will then be able to advise us electronically of your change in circumstances.

Alternatively you can write to us at the following address;

Workplace DC Pension
Legal & General Investment Management
The Control Team
Knox Court
10 Fitzalan Place
Cardiff
CF24 0TL

You may also wish to inform your employer.

Why have I received an enrolment letter?

You have received an enrolment letter as a result of your employer assessing your eligibility for automatic enrolment and deciding you met the requirements for being an eligible jobholder. The criteria for this include being aged between 22 and State Pension Age and having earnings above the current earnings threshold.

For more information you can go to the Pensions Advisory Service website.

What if I don't want to be in a workplace pension scheme?

You're only entitled to opt out within one month of receiving your automatic enrolment letter. Any contributions you have made will be returned to you.

Opting out is easy:

To opt out immediately you can visit WorkSave Choice where you can log on using your enrolment code that was provided on your enrolment letter and follow the easy steps.

Or, if you don't have online access you can call Legal & General on 0345 026 8982 to request that an opt out form is sent to you at your home address. Call charges will vary. We may record and monitor calls.

Please note:  you aren't able to opt out over the phone as by law your decision to opt out needs your online or written confirmation.

If you decide to opt out from your workplace pension scheme, your employer is required to automatically enrol you again every three years if you are still eligible. You will have the right to opt out again.

What happens after I have opted out?

If you opted out online you will receive an instant confirmation that your request to opt out has been successful.

If you opted out by completing and returning the opt out form to Legal & General, you will only receive confirmation of opting out if a pension contribution has been made.

You will either receive your contribution back from your employer or from Legal & General directly, so we recommend you check your bank statement or payslip the month after you’ve received your opt out confirmation.

Your employer is required to automatically enrol you again every three years into the workplace pension scheme if you are still eligible. You will have the right to opt out again.

What do I do if I want to stay in the workplace scheme?

If you want to stay in the scheme then you don't need to do anything, but it's recommended that you read through all the information provided in your scheme documents.

What happens if I want to stop contributing to the workplace scheme after the opt out period has ended?

You can tell your employer that you wish to leave the scheme and they will stop deducting contributions from your salary.

If you decide to leave the workplace scheme, your employer is required to automatically enrol you again every three years if you are still eligible and not a member of the scheme. You will have the right to opt out again.

Can I opt into my workplace pension scheme?

If you're an employee aged between 16 and 74, then you can join and your employer will have to contribute if you currently earn more than the earnings threshold amount.

If you earn less than the lower earnings amount, you can still join but your employer does not have to contribute.

For more information about this and the values that apply in the current tax year go to the Pensions Advisory Service website.

Why have I been enrolled again?

Your employer is required to enrol you every three years if you're still eligible and not a current member of the scheme. That's as long as you're between 22 and below State Pension Age, and are earning over the earnings threshold amount.

If you've previously opted out of the scheme or taken a payment holiday, re-enrolment is a reminder to start saving into your pension pot. Being re-enrolled does not affect your right to opt out.

For more information about this and the values that apply in the current tax year go to the Pensions Advisory Service website.

Useful links

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