How Will Auto-Enrolment Affect Me If I Am a Member of a GE Pension Scheme?
Frequently Asked Questions
How will auto-enrolment affect me if I am a member of a GE pension scheme?
All the GE pension schemes will be qualifying schemes for auto-enrolment. This means that, as long as you are a member, auto-enrolment will not affect you unless you choose to flex your benefits (see more information below). However, if you later choose to leave the scheme then GE may be required to automatically enrol you in the future. If this happens, we will write to you with further information.
If you are a Pension Saver member and you have chosen, or choose in the future, to flex your benefits so that your total contributions to the scheme are below the government’s minimum standards for an auto-enrolment scheme, then we may be required to re-enrol you into the Pension Saver at See the FAQ below (“If I am a Pension Saver member but my total contributions are less than 3%, can I continue to contribute at this rate?”) for further information.
If I am a Pension Saver member but my total contributions are less than 3%, can I continue to contribute at this rate?
If your total contributions to the Pension Saver are less than 3% of your salary and you meet the criteria for automatic enrolment, we will enrol you into the Pension Saver at the default auto-enrolment contribution levels: 0% employee contributions and 3% employer contributions (to be deducted from your Flex Fund).
How will auto-enrolment affect me if I’m not a member of a GE pension scheme?
If you meet the auto-enrolment criteria on the relevant date (either 1 December 2013 or 10 December 2013 depending on your employer), we will enrol you into the Pension Saver at the default auto-enrolment contribution levels. We are required to do this even if you have your own private pension arrangements outside GE.
The default contribution rates for employees joining the Pension Saver through auto-enrolment will be 0% employee contributions and 3% employer contributions (to be deducted from your Flex Fund), but you should be aware that these contributions will increase to a maximum
You can opt out of the Pension Saver if you want to.
How do I know whether I “usually work in the UK”?
If you are based in the UK, short business trips abroad won’t affect this assessment and you will still be considered to work in the UK.
If your role requires you to work overseas on a routine basis, or if you are from an overseas GE company and are temporarily based in the UK, then in order to determine whether you are ordinarily working in the UK, GE has to consider a number of factors. As a general rule, employees who are based in the UK but go on temporary secondment overseas will still be considered usually to work in the UK and employees from overseas offices who are based in the UK temporarily will be considered not to work in the UK.
I am younger than 22 and am not a member of a GE pension scheme. What happens when I reach 22?
If you are earning over the earnings threshold for auto-enrolment on your 22nd birthday then we will enrol you into the Pension Saver. The earnings threshold is currently £9,440 a year (£787 a month) but this figure is likely to change in the future. We will write to you with further information at around the time of your 22nd birthday.
I don’t earn over £9,440 a year (£787 a month). What will happen if I earn more in the future?
If you start to earn more than the earnings threshold for auto-enrolment, and you are aged 22 or over but under your State Pension Age, then we will enrol you into the Pension Saver. The earnings threshold is currently £9,440 a year (£787 a month) but this figure is likely to change in the future. We will write to you with further information if this happens.
You can opt out of the Pension Saver if you want to.
Why will people who are employed by GE Caledonian Limited be enrolled on a different date from other employees?
GE Caledonian Limited, for historic reasons, uses a different payroll date from all the other GE companies. Because of this, the auto-enrolment date for employees of GE Caledonian Limited will be 10 December 2013. This is for administrative reasons, to align the auto-enrolment date with the start of the pay period so that the payroll provider can carry out the necessary calculations. Otherwise, you will be treated in exactly the same way as all other GE employees, and because the contributions to the Pension Saver will be deducted from your Flex Fund there’s no financial disadvantage to being auto-enrolled at the slightly later date. You are entitled to join the Pension Saver at any time before 10 December 2013 if you choose to.
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