Umbrella Enrolled me in NEST

[Yonmons]

Okay just to close it, managed to Opt out, getting onto the Nest site was not as straight forwards as in the letter they sent 2 phone calls later I`m in, took the Opt Out option (despite the dire warnings of doom and armagedden, ) got official email confirmation from Paystream that I have opted out. Complete and utter paper exercise.

[LisaContractorUmbrella]

Unfortunately this was the Government's idea - all employers now have to have a workplace pension scheme under auto-enrolment - this includes umbrella companies. You will have the option to opt-out but you have to be opted-in first - mad I know but there you are

[Yonmons]

Okay, quiet morning been googling apparently you can opt out in the first month with a refund of all contributions. If you fail to opt out in the first month you cant get your money back until you are at least 55. So there you go answered my own question !

[Yonmons]

I am with Paystream who have been doing a good job for me for the last 3 and a half months. Yesterday I got an auto notification from them that they have enrolled me in NEST and will be receiving a pack through the post. I understand this may be a legal obligation with the UK Pension Regs as they now stand, my question is am I legally obliged to sign up for the Pension scheme ? I am the big Six Zero this year, already have an occupational pension, and really what I can pay into the pot with my advance years will reveal no benefit to me ? I can fully accept the value of the scheme for some people but I think I am one of those whom cannot derive any benefit whatsoever.

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