Pension saving can be achieved in a number of ways, but perhaps the most common is through the workplace arrangements. It is now the law for companies to enrol their eligible employees into a workplace pension in a process known as auto-enrolment. Auto-enrolment has pushed many more people into retirement saving through an opt-out policy.
It requires employers to put forward contributions to match those of their workers in an effort to help with retirement planning.
However, with many work plans changing as a result of the pandemic, pension saving could be under threat.
Many people are now considering part-time or more flexible working arrangements to suit their needs after COVID-19.
Indeed, others have been forced to reevaluate their working pattern either due to losing employment, or health needs.
Bearing this in mind, Express.co.uk spoke to Peter Glancy, Head of Policy, Pensions and Investments at Scottish Widows.
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But before individuals even reach this point, there is an important consideration…
