FAQs

In what circumstances will you automatically enrol me into a pension?

We are obliged by law to automatically enrol you into a pension scheme if you’re aged between 22 and State Pension age and earn over a certain amount.

If you’re paid weekly, this amount is £192. If it’s fortnightly, you need to earn £384. Or if you’re paid monthly, it’s £833.

We don’t enrol you straight away – we wait for three months after you join Key Portfolio. This gives you time to get started as a contractor and get a realistic picture of your typical earnings. Once this date has passed, the trigger for us to automatically enrol you is the next time your pensionable earnings reach £192 in a week.

When you became an employee (or when we first introduced the pension scheme in May 2017), we sent either an email or letter to tell you that this would happen. You’ll also receive a reminder when the date is approaching.

If you asked to join the pension scheme within three months of joining Key Portfolio, the waiting period no longer applies to you. You’ll be automatically enrolled as soon as you meet the criteria, even if you’ve set up direct debit payments to NEST in the meantime.

For third-party information on automatic enrolment, please see The Money Advice Service or The Pensions Advisory Service.

We hope this pension scheme makes it a little easier to save for your retirement. However, if you’d rather not be a member, you can leave at any time.

 These figures are correct for the 2020/21 tax year.