Pension

[Hotdog1]

Hi after what seems like forever - finally got into the payslips page on the app- (dont ask).
 Anyway - upon looking at payslip, it shows against my pension payment  a 'Minus' ??  what does that mean please ?
does anyone know ? Thankyou

[rupert7]

In summary, the "Minus" you see on your payslip against your pension payment represents the deduction made for your pension contributions, which ultimately impacts your tax liability

[quicksilver]

Just a quick one really,
Do you automatically enrol in the tesco pension scheme when you start with the company as I've had my induction and there was no mention of anything to do with the pension scheme and I didn't think to ask.
T.I.A.

[rupert7]

Tesco automatically enrolls eligible employees in the Tesco Retirement Savings Plan if they meet certain criteria. Here are the details:

Eligibility: You will be automatically enrolled in the plan if you are between the ages of 22 and your State Pension Age1.
Opt-Out Rate: The vast majority of Tesco colleagues remain in the scheme, with a very low opt-out rate of approximately 5-6% per annum2.
Life Cover: In addition to retirement savings, the plan provides valuable life cover for every member2.
If you have any specific questions or need further assistance, you can contact the Tesco Pension Helpline at 0345 070 11131. Remember that responsible investing is important, and Tesco aims to align its investments with environmental and societal priorities3. 🌱💡

Summary: Tesco automatically enrolls eligible employees in the Tesco Retirement Savings Plan, providing both retirement savings and life cover

[quicksilver]

rupert7 many thanks for the info 👍