Our policy is to enroll all new starters into the SGN Group Personal Pension Plan (GPPP) at the standard 6% contribution rate (you can opt out of the scheme altogether or opt to reduce your contribution rate to below 6%). For every £1 you contribute, you can end with over £3 going into your pension scheme each month.
Pensionable salary: £25,000 a year
GPPP contribution: 6% per month
In this event you will contribute £100 of your own money (after tax relief) into the GPPP each month, the Government will pay £25 into the GPPP on your behalf (as tax relief), and we, SGN, will match your full 6% contribution by paying a further £125 into the GPPP on your behalf.
So, although it actually only costs you £100 per month, a total of £250 (£100 + £25 + £125) will be invested in the GPPP each and every month for your retirement.