Why have I been put into a pension scheme?
All employers now have to put their workers into a pension scheme if they earn over £10,000 per year, are aged 22 or over and are under state pension age. This is the law, because the government wants to get more people to have another income in addition to the state pension when they retire.
When will my contributions begin?
The pay period will depend on your hire date. However, pension contributions will be based on earnings as of your start date.
Generally, if you’re hired in the first week of the month, your contributions will begin with your first pay period. If they do not begin with your first pay period, they will be processed in the next month payroll based on earnings from your start date.
What if I don’t want to join the scheme?
If you don’t want to join the scheme, you need to ask to leave it. You can choose to leave the scheme in the one-month period starting on the date you were put in (after your first contribution). You do this by completing the form available from our pension provider, Aviva.
The opt-out instructions will be enclosed within the welcome pack you received soon after you started at Intuit. Your opt-out election will be communicated back to Intuit and reflected in the Darwin system on the backend. This can take up to two payroll cycles.
Aviva will also be able to tell you when the one-month period started, if you aren’t sure.
If you leave the scheme during this period, any money you’ve already paid into your pension will be refunded and you won’t have become a member of the scheme on this occasion.
If you want to stop paying into your pension after the end of this one-month period, you can decide to leave the scheme by accessing Darwin, Your Benefits Administrator.
What if I ask to leave the scheme but then change my mind in the future?
You can rejoin the scheme any time by accessing Darwin, Your Benefits Administrator.
From the Select Benefits menu on the homepage, you can access the Benefit Summary page and enter your desired contribution for the Pension Scheme.
The cut-off date is the 5th of the month if you want the change to take effect for that month’s payroll.
If I ask to leave the scheme, what happens after that?
Anyone who asks to leave, or stops paying into, the scheme will be put back into it at a later date (usually every three years if they meet certain criteria). This is required by law, and is because your circumstances may have changed and it may be the right time for you to start saving. We will contact you when this happens, and you can ask to leave the scheme at that time.
If I want to stay in the scheme, do I have to pay in?
You will be automatically enrolled to contribute 3% of your earnings each pay period. This will be taken directly from your pay and may include tax relief from the government. Intuit will also pay in 6% of your earnings each pay period. Therefore, the total amount put into your pension pot will be 9% of your earnings.
Will my contribution amounts change?
As the money you pay in is a percentage of your pay, the amounts will automatically go up or down if your earnings do.
You can also choose to change your percentage contribution at any time by logging into the Darwin, Your Benefits Administrator portal. The cut-off date is the 5th of the month if you want the change to take effect that month’s payroll.