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Originally Posted by Womble
Crazy. Here there's a requirement for employers to offer a workplace pension scheme and they have to contribute at least 3 percent of your salary if the employee contributes. If you're a professional you can expect anywhere from a 5% to 12% employer contribution. Also the government guarantees 90% of your total pension amount if you're in receipt of a defined benefit pension and the pension scheme goes tits up. Although there aren't many defined benefit pension schemes offered anymore. British communism has its benefits.
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Most companies of 50 or more employees offer a defined contribution plan which many have an employer match like you are stating. Also, those that do still offer a defined benefit traditional pension, it is fully guaranteed by the Pension Benefit Guaranty Corporation which is federally chartered. So very similar to your structure.