Does my employer legally have to provide a pension scheme?

Question

I have 6 answers saying NO and one saying YES. My understanding before asking this was the answer was YES. Can anyone else confirm????

Answer 1

If you are in the UK, then yes they do as long as the company more than 5 employees; however, they do not have to pay into it for you if they choose to a stakeholder pension.

Answer 2

Pension plans come under the heading of "Benefits"

Benefits are like extra inducements companies offer in order to attract talented ( and therefore valuable) employees. Union members may have "guaranteed" pensions, although these are largely funded by the workers and administered by Union Brass. Your money may be used to fund causes you don't agree with...

Benefits are optional. You can either offer health insurance or not, offer pensions or not. The law generally does not require such beneficence.

If you're not getting the benefits you feel you deserve then I reccommend testing the employment waters and seeing if anyone is offering a better deal to people with skills like your own.

You can always rely on yourself, and open an IRA (Independent Retirement Account) which allows you to save a considerable chunk of your income tax defered for retirement.

Answer 3

I do not think employers are legally obliged to provide a pension scheme. It is something that should have been discussed when you took the job so that you could have looked into opting for a private pension scheme if one was not available through your employer.

Answer 4

I am not sure which country you are in but as a general rule of law companies are not legally bound to provide pension schemes. As organisations grow and understands the importance of good HR best practices they inevitably do so but they are under no legal requirement to do as such. However while they are not obliged to legally many people believe it is their moral obligation to do so. You work all the hours god sends ,devote most of your working life to them and when you retire you are expected to live off a state pension ???? In the future - If a company wants to be seen as an employer of choice they will definitely need to all star thinking about offering good tand effective pension schemes. IN the meantime - talk to your trade unione / HR rep / manager and raise the issue !! Good luck

Answer 5

NOT in the USA. The employer does have to pay half of your social security taxes, half of your medicare taxes and all of your unemployment taxes. Are you paying any of their taxes? If the company goes belly up, are you gonna be sure the owner's retirement scheme is covered? Life is risky. You gotta be smart, work hard and carry a lot of people who aren't and don't.

Answer 6

under employment law it is not a legal requirement for your employer to make you assign for a pension scheme

Answer 7

In the UK, a company has to offer you a Pension Sceme (as long as they have over 5 employees) but does not have to pay anything into it themselves.
in USA, companies are not legally binded to offer you anything.
Hope this helps! xxx

Answer 8

Nope

Answer 9

Nope

Answer 10

Noone really cares what atheists do & we certainly wouldnt call down fire from heaven. God is perfectly able to handle atheists when he is ready. Cause atheists are not really going against christians. They are going against God. Christians continue to worship God & do what they know they should do, no matter what atheist rant. Everyone have their own cross to bear & their own choices to make. Once they also understand that they also have to bear the consequences & responsibilities of the choices they make.