How do I change contributions or take a break from paying into my company pension?Fri Dec 05 15:41:35 GMT 2014
Changing the value of regular contributions
You can change the value of regular contributions at any time, as long as you still meet the minimum contribution level. Please be aware, your employer’s contribution may depend on you maintaining a certain level of contribution.
You can stop or take a break from paying contributions at any time and leave your fund in the plan. Any contribution break is likely to reduce your future pension. You should speak to your employer to find out more if you’re thinking of taking a contribution break. Your policy conditions will give you more details.
If you’re automatically enrolled and you decide to take a break from paying contributions, it means you’re opting out of the scheme and you may not be able to re-join at a time of your choosing. If you opt out or pay below the minimum required, your employer will automatically enrol you back into the plan at some stage, over the following three years, if you’re eligible.