What is auto-enrolment?
Auto-enrolment was introduced by the Government to encourage people to save for their retirement. It requires all employers to enrol employees who meet certain criteria into their workplace pension arrangements. Vodafone automatically enrols all new employees into LifeSight within three months of starting work. You can join LifeSight immediately after you start employment, if you wish, by visiting MyChoices. If, after you have been enrolled into LifeSight, you choose to stop contributing you may be re-enrolled by Vodafone in the future in line with legislative requirements.
Why was auto-enrolment introduced?
The Government introduced auto-enrolment for a number of reasons:
- To encourage people to save for their life after work.
- To help people prepare for a longer retirement - people are living longer, which means that they need to save more.
- To reduce reliance on the State Pension.
Can I stop auto-enrolment before it happens?
No. You can stop your contributions as soon as you have been enrolled, but not before.
When will I be auto-enrolled?
Vodafone enrols all new employees into LifeSight within three months of starting work, but you can join sooner if you wish. You will receive an email from MyChoices shortly after you join Vodafone.
What happens if I don't contribute to LifeSight?
If you don't want to save for later life in LifeSight, you can stop paying contributions. However, you will miss out on Vodafone’s contributions to your retirement. Vodafone will not pay contributions into any other pension arrangement.
I previously stopped making contributions, why have I been re-enrolled?
From April 2013, there has been a legal requirement for Vodafone to automatically enrol employees into a suitable pension plan, unless they are already members of such a plan. Every three years Vodafone is required to re-enrol employees who have opted out of the pension plan, the last re-enrolment took place in April 2019.
Can I opt out of making contributions into LifeSight?
Yes, you can opt out of making contributions if you don’t want to save for your retirement in LifeSight. However, if you opt out you'll be missing out on extra money from Vodafone paid directly into your LifeSight Account every month. Vodafone will not pay contributions into any other pension arrangement.
I've opted out, can I start making contributions again?
Yes. You can start making contributions into LifeSight at any time. Please visit MyChoices and go to the Pensions & Life Cover section under the Benefits tab.