Since 2018, it’s been a legal requirement for UK employers to offer a workplace pension scheme to help employees save for retirement. These schemes are a tax-efficient way to save and offer access to a range of investment options.
Understanding workplace pensions
- Your employer automatically enrols you into the scheme. This is called auto-enrolment.
- Both you and your employer make regular contributions.
- Contributions are generally deducted directly from your pay. But they may also be made through salary exchange or salary sacrifice arrangements.
- The government may add tax relief to your contributions to boost your savings. Tax rules can change and the impact of taxation (and any tax relief) depends on your circumstances.
Workplace pension schemes are managed in two ways. They’re either
- Trust-based: where trustees look after the pension plan in line with the scheme rules, or
- A provider-based workplace pension: a pension plan managed by a pension provider, like us.
Whether you’re eligible for a workplace pension will depend on your age and earnings.
If you’re eligible, your employer is required to give you details about auto-enrolment. So, if you're employed and not yet part of your employer’s pension scheme, ask them if auto-enrolment applies and how to join.
You can visit your scheme-specific website if you're a member of a public sector AVC - Local Government, NHS or Teacher.
If you became a member through an employer, visit the Group AVC website.
If you're an employer, please visit the employer website.
The charges that apply to your pension are detailed in your Annual Benefit Statement. If your workplace pension is supported by our Online Service, you can log in to view it.
If you have a Money Purchase Plan, you may also find information on your charges by searching for your scheme. You'll need your scheme name or scheme ID to do this. You can find your Scheme name and Scheme ID on your Annual Benefit Statement.
General workplace pension product guidance
Your employer will enrol you in a workplace pension if you
- aren’t already in another company pension scheme
- are aged 22 or over, but below State Pension age
- earn more than £10,000 a year, and
- work in the UK.
If you’re already saving for retirement, you may want to check that your current payments will be enough to meet your income needs in retirement. It’s important that you consider taking professional financial advice as you plan your retirement. Visit our Retirement Hub for more.
If your employer’s scheme is set up under trust:
The trustees have a duty to monitor the scheme, including whether it offers value for money. For more about this, contact the trustees of your employer’s scheme.
Prudential Corporate Pensions Trustee Limited (PCPTL) is a corporate trustee company and acts as trustee for some employer’s schemes. Your scheme literature will let you know if this is the case for your employer’s scheme.
If your employer’s scheme is a workplace pension:
It’s been a requirement since 6 April 2015, for your pension provider to set up an Independent Governance Committee (IGC). Like trustees, an IGC has a duty to monitor the scheme, including checking that it offers value for money.
Find out more about our Prudential IGC.
Supported workplace pension products
You can use our Online Service if you're a member of
- Money Purchase Plan - set up after 2003
- Group Personal Pension (GPP) - set up after 1 September 2001
- Premier Group Personal Pension
- Additional Voluntary Contributions (AVCs)
- Stakeholder Pension
Registering is quick and easy
It takes about five minutes. All you’ll need is your policy number (found on any letter we've sent you).
What you can do online
Once registered, you can start using the service straight away to
- view important information about your product
- download your latest annual statement
- view the current value of your product
- contact us by secure message
- update your address, and
- update your bank details.
Already registered?
If your workplace pension is supported by our Online Service, you can log in view your Annual Benefit Statement (ABS) and current pension value. Otherwise, please contact us directly.
If your workplace pension is supported by our Online Service, you can log in to update your UK bank or building society details. Otherwise, please contact us directly.
To update your name, please send us a signed letter that includes:
- Your previous and new name
- Your plan number
- One original document as proof of the change:
- Marriage Certificate
- Civil Partnership Certificate
- Decree Absolute
- Final Order
- Deed Poll
We’ll return your original document once we’ve processed the change.
Send your letter to: Prudential, Lancing, BN15 8GB
Whether you're wanting to stop, pause, reduce or increase your pension contributions, or access your pension savings, it's important to understand your options and any tax implications.
You can change your current funds and investments. There’s no charge to make these changes.
If you're thinking of paying more money in by doing a top-up, then:
- You should speak to your employer so that the impact of any changes to your pension is fully understood.
- We recommend you get financial advice to help you carefully consider your options before making decisions about your pension savings and your retirement options.
We’ll be in touch six months before your retirement date with information about your retirement options. In the meantime, you can visit our Retirement Hub for more.
Our workplace pension products
Accessing your pension savings
Before your access your pension
- We recommend you carefully consider your options, including your tax position.
- Please make sure you understand your options and how they might affect your plan.
- Taking money out is a big decision and one that’s best made with an adviser. So we recommend you get financial advice. See ‘Getting financial advice’ for more information about this.
- Remember, the value of your investment can go down as well as up, so you might not get back the amount you put in.
More information
A person appointed to manage and safeguard the assets of a trust.
Visit the government's workplace pensions website for more information.
Getting financial advice
Further support
Contact us
If you can't find the answer you're looking for here or in our Online Service, please contact us.
| Money Purchase Plan | 0345 300 2634 | Monday to Friday, 9:00 – 17:00 | |
| Group Personal Pension | 0345 075 2244 | Monday to Friday, 9:00 – 17:30 | gpp@prudential-pensions.co.uk |
| Premier Group Personal Pension | 0808 234 3030 | Monday to Friday, 8.30 – 18:00 | |
Prudential Grouped and Flexible Personal Pension | 0330 123 5407 | Monday to Friday, 9:00 – 17:30 | Prudential.Pensions@equiniti.com |
| AVC | 0345 600 0343 | Monday to Friday, 8.30 – 18:00 | |
| Group AVC | 0345 600 0383 | Monday to Friday, 8.30 – 18:00 |
We're not available on public holidays.
We might record your call for training and quality purposes. To find out more about how we use your personal data please visit My Data page.
