Auto-enrolment (short for automatic enrolment) offers workers the chance to join a workplace pension.
All employers must auto-enrol eligible staff into a pension scheme. This move is being introduced gradually, depending on the size of the company.
As a new starter, you are being auto-enrolled because you:
Even if you don’t meet the above criteria, you may be able to opt-in or join. Speak to your employer to find out if they will approve your application.
Once you’re auto-enrolled, both you and your employer pay regular contributions into the RPS. These are taken from your pay before tax,so that you benefit from tax relief.
Your employer manages the payroll process so you don’t have to worry about setting up payments and paying in.
Log into your RPS account to view your latest estimate.
Complete a Nomination form to tell the Scheme's administrator Railpen who you would like to receive any lump sum that may be payable if you die while working for your Section, by logging into your myRPS account.
This lump sum is paid out to your dependants or beneficiaries and could be worth up to four times your average pay.
If you are auto-enrolled into the IWDC section, remember that you can choose to have your investment funds selected for you, or choose them yourself. Whatever you decide to do, it’s important to keep track of your funds to make sure they’re right for you.
There's a one-month ‘cooling-off’ period after auto-enrolment when you can opt out if you want to.
However, you can still leave at any time, subject to your Section’s Rules. Speak to your employer first. You will get the chance to auto-enrol again in three years’ time.
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