Odd Pension arrangement in job offer

[option click]

I've been offered a new job, and there is an unusual pension arrangement as part of the package.
It states that I would be eligible to join the company pension scheme (with employer contributions) but only after 2 years of service.

I'm no expert, but I thought that with recent legislation, employers are obliged to offer membership of a company pension scheme straight away?

Can anyone offer any advice on this? I've already queried this through my agent so will be interesting to hear what comes back.

[prand]

option click said:

I've been offered a new job, and there is an unusual pension arrangement as part of the package.
It states that I would be eligible to join the company pension scheme (with employer contributions) but only after 2 years of service.

I'm no expert, but I thought that with recent legislation, employers are obliged to offer membership of a company pension scheme straight away?

Can anyone offer any advice on this? I've already queried this through my agent so will be interesting to hear what comes back.

Can't help you really, as I'd agree with you, there may well be a statutory minimum contributory pension. I'd not be too happy to put 2 years or pensionable service on hold while I wait. Is it particularly gold plated?

[option click]

Not especially. It represents a reasonable increase in my basic salary, but that would be negated slightly if I had to top up on existing pension contributions for a couple of years

Have proposed a higher basic salary if the pension aspect can't/won't be changed.

[mr_spock]

Enforced enrollment depends on the size of the company, and your PAYE reference. Check here:

http://www.thepensionsregulator.gov.uk/automatic-e...

Ask if they will let you pay your contribs by salary sacrifice, you can save a bunch of money, especially if they'll contribute the saved employer's NI.

[Terminator X]

In my old job you had to wait 6 months before being eligible for their pension scheme, I think it was set to weed out the people that flit from one job to another 2 years seems a long time though albeit perhaps has been set to coincide with the new 2 year period before employment rights kick in?

TX.

[PurpleMoonlight]

Workplace pension reform/auto enrollment is different to what the employer may offer as part of their employment contract (although if the latter complies with the former the latter can be used as an opt out for the former).

So it is currently quite legal for the employer to have a 2 year waiting period for their 'sponsored' pension scheme, but they will still be required to comply with thier auto enrollment obligations from their staging date (different dates for different employers as previously stated).

[edc]

It is peculiar to have a 2 year joining stipulation for the pension scheme. As noted this might just be an outdated clause that could be affected by the auto-enrolment requirements. Typically, eligibility for entry to he scheme and for the company contributions is linked to a probationary period.