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5:00Pension Fund Plumbing: From Payslip to a Payment 40 Years Later
A few pounds vanish from your payslip each month and reappear, decades later, as income you can live on. In between sit your employer, the taxman, a trustee, a fund manager and the entire global stock market.
A workplace pension is not a piggy bank with your name on it; it is a long pipeline with three jobs, paying in, growing, and paying out, that runs for forty years or more. The UK version is built on automatic enrolment: since 2012 your employer must put you into a scheme and you must actively opt out to leave.
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