Joining the RPS

I'm being auto-enrolled

Auto-enrolled into the Scheme

 

Pensions can seem daunting - but joining the RPS through auto-enrolment is simple and quick.

What it means

Auto-enrolment came into force in October 2012, and offers all eligible workers the chance to join a workplace pension.

 

Action has been taken because millions of people don’t have access to a pension scheme and aren’t currently saving enough for retirement.

 

All employers must automatically enrol eligible staff into a pension scheme if they don’t already have one set up. This move is being introduced gradually, depending on the size of the company.

 

Why me?


As a new starter, your employer has chosen this route into the RPS for you.

This is because you:

  • are above the ‘earnings’ threshold
  • are at least 22 (but under State Pension age)
  • usually work in the UK

Even if you don’t meet these criteria, you may be able to opt-in or join. Speak to your employer to find out if they will approve your application.

 
How it works

 

Once you’re auto-enrolled, both you and your employer pay regular contributions into the RPS. These are taken from your pay before tax, meaning more savings for you.

 

Your employer manages the payroll process so you don’t have to worry about setting up payments and paying in.

 

If you are in the RPS, you can check the benefits you are building up via your Annual Pension Estimate - log in to view it online. 

Estimates are also sent out to RPS and IWDC members every year, as long as you joined the Scheme before 1 April of that year.

 

Lump sum


Complete a Nomination form to tell the Scheme's administrator RPMI who you would like to receive any lump sum that may be payable if you die while working for your Section.

This lump sum is paid out to your dependants or beneficiaries and could be worth up to four times your average pay.  

Investments


If you are auto-enrolled into the IWDC section, remember that you can choose to have your investment funds selected for you, or choose them yourself. Whatever you decide to do, it’s important to keep track of your funds to make sure they’re right for you. 
 

Auto-enrolment lifecycle

Can I opt out?

Paying into a pension scheme might not be right for you at the moment. The good news is that you can opt out. There’s a ‘cooling-off’ period of around one month when you’re first auto-enrolled when you can do this.

You can however still leave at any time, subject to your Section’s Rules. Speak to your employer about the process for opting out.

To complete the opt-out process, download the opt-out notice in the forms section; telephone the Helpline on 0800 2 343434or email csu@rpmi.co.uk.  Please include your pension reference number in all communications with RPMI.

Remember! You will get the chance to auto-enrol again in three years’ time.

 
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Watch and learn

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Auto-enrolment: the facts

Watch and learn

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Auto-enrolment: your options