The period for employees to use the “Your Choices” system to select their “flexible benefits” closes on Wednesday 30th November, with changes effective from 1st January 2012.
Points to look out for:
- If you’re in the Fujitsu UK Pension Plan, you need to make sure that you have selected an additional contribution (often as an “ASC”) of at least 2% on top of the base contribution of 3% if you want your total contribution to be 5%. If you only contribute the base 3% you will miss out on 4% company contributions – it seems quite a few people have missed this by mistake.
- There have been some issues with confirmation statements not showing pension contributions correctly, so check yours carefully.
- If you currently use Retail Vouchers, any remaining balance in your account will be sent to you after 28th January 2012 in £5 denominations, and any balance below £5 will be sent to charity, so if you want all your money back, you need to use the web site to top up your account to a multiple of £5 before that date.