Intro

On your first day at Accurx we enrol you into a workplace pension scheme that meets legal standards.

We’ve chosen Nest as our workplace pension scheme to meet our employer duties and help you put money aside for your retirement. Nest is a straightforward pension scheme that gives you one retirement pot for life.

If you’d like to know more about Nest you can visit their website at www.nestpensions.org.uk or search online for Nest pensions. Once you’ve been enrolled you’ll be able to activate an online account that lets you take control of your retirement pot.

Statutory Benefit

• Total contribution must be 8% with the minimum employer contribution set at 3%.
  • Minimum employer contribution =3%
  • Employee contribution = 5%
  • Total minimum contribution = 8%

Additional

• At Accurx, we match pension contributions up to 6% of your salary
• As the statutory employee minimum contribution is set at 5%, Accurx will match 5%.
• If you decide to increase your minimum contribution to 6% or more, Accurx will match that up to 6%
• If you’d like to increase your contribution you can do so through the Maji platform.

We calculate contributions based on your total earnings.

If you have any questions about contributions or your enrolment, please contact [email protected]

Tax relief

When you pay into a pension, the government usually gives you a ‘top up’ in the form of tax relief, to encourage you to save for the future. Tax relief is available on your pension contributions at the highest rate of income tax that you pay.

Please note: if you're eligible for tax relief, the amount that you'll see deducted in your payslip as your contribution will be 20% less than the contribution %. Nest will then claim the tax relief back for you from HMRC and add it to your pot. This will then bring the final contribution from you up to employee contribution % when you review it in the Nest portal.

If you pay tax at a higher rate, you may be able to get more tax relief on your contributions. You’ll need to claim this yourself by contacting HMRC at www.hmrc.gov.uk.

Opting out

If you decide that you don’t want to put money aside for your retirement just yet, you have the right to opt out. You must do this within your one month opt-out period, which starts three days after you’ve been enrolled into Nest.  Your welcome pack should arrive around this time and will include information on how to opt out and the date your opt-out period ends.