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Ben Jones
Ben Jones, UK Lawyer
Category: Employment Law
Satisfied Customers: 47368
Experience:  Qualified Employment Solicitor - Please start your question with 'For Ben Jones'
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I AM PLANNING TO CHANGE MY WORK PATERN TO REDUCED WORK REDUCED

Resolved Question:

I AM PLANNING TO CHANGE MY WORK PATERN TO REDUCED WORK REDUCED HOURS TO GIVE ME FREE TIME TO SUPPORT MY SON BETTER. HOW WOULD THIS AFFECT MY EMPLOYMENT BENEFIT SUCH AS PENSION. I AM OVER 50 YEARS OLD, AN OLDER MOTHER!
Submitted: 2 years ago.
Category: Employment Law
Expert:  Ben Jones replied 2 years ago.
Ben Jones :

Hello, my name is ***** ***** it is my pleasure to assist you with your question today. Do you pay a company pension and does the employer make contributions too?

Customer:

yes

Customer:

yes, I pay into my workplace pension scheme and my employer contribute

Ben Jones :

If you reduce your hours then your pension contributions may be reduced as well especially if they are based on a percentage of your earnings.Usually you ad the employer pay a percentage of hat you earn into your pension, so if your earnings are reduced so will your pension contributions. You may be able to increase your contributions so they remain the same but it is unlikely that the employer would do the same so overall you may get less money contributed to your pension. But it would not affect the right to be entitled to it when you retire

Ben Jones :

I hope this clarifies your position? If you could please quickly let me know that would be great, as it is important for us to keep track of customer satisfaction. Thank you

Customer:

I don't really understand what additiona pension contribution will buy me in retirement, addtional years or additional value?

Ben Jones :

additional value, say before the changes you are contributing a fixed 3% of your earnings into a pension, and the employer would contribute a fixed 5%. If your earnings reduce then the equivalent contributions would also reduce and overall you would be contributing less towards your pension. So if it is allowable under the policy you may seek to increase your ontributions to say 5% (or whatever amount you wish or are allowed to choose) to compensate for that shortfall.

Ben Jones :

Does this clarify things a bit more for you?

Customer:

I have 3 occupational pensions. Should I merge them to one? if so how? what will be effect of doing this?

Ben Jones :

this is diverging to pensions advice now I'm afraid and that is separate to employment law so I cannot help with that, you will need to post a separate query specific to the pensions advice you require

Customer:

ok thanks

Ben Jones :

you are welcome

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