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Iron Mountain has chosen Aviva to help you make the most of your savings.
Iron Mountain provides you with your own pension to save for your retirement. Your pension enables you to build up pension savings that can be used when you retire. It gives you a tax-efficient way to invest, and you could benefit from a regular employer contribution.
For more details about how your pension works, read the ‘Key features’ and ‘Terms and conditions’ in 'Your company pension scheme - An essential guide for employees' on the documents page.
Please note that tax rules may change, and your tax treatment will depend on your personal circumstances.
You will automatically be enrolled into the company pension when you begin your employment. You can find out more about the company pension by reading the documents on the Documents page.
If you’re not yet a member of the workplace pension scheme, you’ll fall into one of three categories depending on your age and how much you earn. Your employer will provide more information about the category that applies to you.
This means pension contributions will automatically be taken from your salary and you'll also start to receive employer pension contributions.
You can choose to opt in; you'll start to pay pension contributions and receive contributions from your employer.
You can choose to join; you'll pay in pension contributions from your salary and start saving towards your retirement, but you won't necessarily receive pension contributions.
For a start, automatic enrolment is intended to make it easier for you to invest for your retirement. Rather than you having to take steps to join a pension, most employees will be signed up as a matter of course.
But perhaps the biggest benefit is that if you’re automatically enrolled, your employer will contribute to your pension as well as you.
Whether you are automatically enrolled, or you choose to opt in or join, you will benefit from tax relief from the government on any contribution you make. For every 80p you pay into your pension, the government adds 20p in tax relief, increasing it to a total contribution of £1. So, if you paid £80 into your pension each month, the government would boost it to £100. Your employer may have opted for salary sacrifice, or exchange. This is an arrangement between you and your employer. Please contact your employer for more information.
Please note that tax rules may change and your tax treatment will depend on your personal circumstances. The value of your investments can go down as well as up, and you may get back less than has been invested.
Staying in or opting out - you're in control
If you're auto-enrolled you can opt out if you want to. If you do so within a month, any contributions already paid will be refunded. If you opt out later, this money will stay in your pension.
If you opt out, you will miss out on employer contributions and any tax relief from the government. However, you may be able to change your mind and opt back in.
If you stay opted out, your employer will normally put you back into the pension in around three years. But you can again choose whether to opt out. Remember that the sooner you join, the better your chance of a more comfortable retirement.
Got a question? We are here to help
Name: Global HR Service Support Team
email: irmHR.EMEA@ironmountain.com
website https://irm.service-now.com/mymap
Phone number:+44 0800 2797620
This site does not provide financial advice.
A good place to start is MoneyHelper, the government-backed free guidance service. The MoneyHelper service won't tell you what you should do, but they'll provide you with information to help you understand your options.
For financial advice please contact your financial adviser. You may be charged for this. MoneyHelper can help you find an adviser in your area.
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