Auto Enrolment Q&A week

Millions of workers in the UK will gradually see a slice of their pay packet being automatically diverted to a savings pot for their pension.

Employers are obliged to pay in as well, with the government adding a little extra through tax relief.

The system – called automatic enrolment – started at the beginning of October 2012 with staff who work for the biggest businesses, with others being signed up over the following six years.

Those who already save in a workplace pension scheme or are self-employed will not be signed up.

Experts and ministers say it is vital people make a start at an early stage in their working lives, to eventually have savings that will top up the state pension.

Q&As coming for the rest of the week….