Once you've chosen how much to pay in, making the most of your money is all about keeping an eye on progress and making changes when you need to. Saving for as long as you can gives your money time to grow.
You have a choice when it comes to where your savings pot is invested. There’s always risk associated with investing, so it’s really about what feels comfortable for you and how you want to manage it.
Initially, where your savings pot is invested will be chosen for you, and it will be placed in a 'Target Date Fund'. This fund will automatically change where your savings pot is invested the closer you get to your retirement age. Remember, you can choose where your savings pot is invested if you want to.Find out more
It's good practice to regularly review your investment choices, even if you don't make any changes. Here are some things to think about, and details of the charges that might apply.Find out more
There are different investment options to choose from. It’s about what’s right for you and your future plans. Have a look at the options available.Find out more
Sometimes, working out what you can afford to pay into the Scheme can be difficult. Try the modeller on your online DC account to help you work out what you can pay in, and what you might get when you want to access it.
The amount you and your employer pay in each month benefits from tax relief from the Government. You can also take 25% of your retirement savings tax free when you choose to access them. So altogether, it’s a tax-efficient way of saving for your future.
If you choose to leave the Scheme, then the options available to you depend on how long you have been a member and your age.
If you’ve been auto enrolled and a member for less than 30 days, the payments you have made will be refunded, and it’ll be like you never joined.
If you've been in the Scheme longer than 30 days, you can leave your savings pot with TPT until you choose to take it.
If you haven't registered for your online DC account yet, click here to find out how you can do it