Why am I being put into the Kingfisher Pension Scheme (KPS) on 31 March 2025?

• All employers now have to put their workers into a pension scheme if they earn over £10,000 per year, are aged 22 or over and are under state pension age. This is the law, because the government wants to get more people to have another income in addition to the state pension when they retire. Even if you leave the KPS, we must put you back in if you meet the criteria on 31 March 2025.  You should remember that by being in the KPS, you are also covered for a four times basic salary death-in-service benefit.

What if I don’t want to join the KPS?

• If you don’t want to join the KPS, you need to ask to leave it. You can choose to leave the KPS in the one month period starting on the date you receive your letter or email from Legal & General, our pension provider.  You can do this by following their instructions on the letter or email which will arrive with you on or around 31 March 2025.
• If you leave the KPS during this period any money you have already paid into your pension will be refunded and you won’t have become a member of the KPS on this occasion.
• If you want to stop paying into your pension after the end of this one month period you can but any contributions you have paid won’t be refunded.

What if I ask to leave the KPS but then change my mind in the future?

• You can ask to rejoin the KPS at any time by filling in an online form here

If I ask to leave the KPS, what happens after that?

• Anyone who asks to leave, or stops paying into, the KPS will be put back into it at a later date (next re-enrolment will be 31 March 2028 if you meet certain criteria). This is because your circumstances may have changed and it may be the right time for you to start saving. We will contact you when this happens and you can ask to leave the KPS again if you don’t want to re-join.

If I want to stay in the KPS do I have to pay in?

• You will pay in 5% of your basic pay each month. This will be taken directly from your pay and may include tax relief from the government (if you’re eligible). B&Q/Screwfix or Kingfisher will also pay in 5% of your pay each month.  Therefore, the total amount put into your pension pot will be 10%.

Will this amount change?

• As the money you pay in is a percentage of your pay, the amounts will automatically go up if for example you get a pay increase or down if you reduce your hours. You can also elect to pay in more than the 5% and you can complete an online form here