There’s a few changes to pension rules that actors need to be aware of.
New legislation (auto-enrolment) mean that employers will need to make a pension contribution for many of their employees to a scheme of the employers choice.
For lots of workers that could be a good thing. But for actors – who work for lots of different companies – it could mean that they end up with lots of little pensions. This could make keeping track of your savings a nightmare – and could even mean you lose out if you lose track of your different schemes.
You can avoid this by joining the Equity Pension Scheme (EPS) and keeping all your pension money together in one place.
Also, the contribution levels of the EPS are much higher than what you would currently get with auto-enrolment.
For example – many employers will contribute 5% to the EPS but only 1% to an auto-enrolment scheme.
You can learn more about the EPS and auto-enrolment from First Act who administer the scheme on behalf of Equity. Link – Pensions for actors
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