5 things you need to know of Pension Calculators: Check for auto-enrollment into a pension scheme

It has become the norm with UK employees to automatically enroll workers to a workplace pension scheme. Workers can then choose to opt out if they have a better private or alternative pension plan. This kind of arrangement initially started with large pension schemes but has become common even with small and medium-sized companies. Auto-enrolled employees usually have 1% of their pay deducted and put into a pension scheme with the employer contributing an equal or higher amount.