FAQs - Employees

Am I eligible?

On the date your employer is legally required under the Act to provide you with access to a pension scheme, you will be immediately eligible if you: 

  • are over the age of 15; 
  • have worked for your employer for one year or more; and 
  • have gross earnings from that employment of £10,000 or more per year. 

If not eligible immediately, you will become eligible as and when you meet the three requirements.

By what date does my employer have to provide a pension scheme?

Under the Act, all employers in Gibraltar will be legally required to provide access to a pension scheme by 1st July 2027. However, this obligation starts earlier for larger employers. The below table sets out the dates the requirements apply to each category of employer:

Category of employers  No. of employees  Date requirements apply 
Enterprise 251+ 1 August 2021
Large 101-250 1 July 2022
Medium 51-100 1 July 2025
Small 15-50 1 July 2026
Micro 14 or less 1 July 2027

Do I have to join my employer’s pension scheme?

No. You may opt-out, for example if you are already saving for your retirement in another way. If you wish to opt-out, either your employer or the administrator of the pension scheme will provide you with the form needed to do this.

Do I have to contribute?

Yes, a minimum 2% of your gross earnings from your employment. However, some employers, although under no obligation under the Act, may choose to pay this on their employee’s behalf.

My employer already provides a pension scheme. Will this change?

Probably not. If your employer already has a pension scheme in place, so long as it meets the minimum requirements under the Act, then nothing should change.

Who do I contact if I want more information? 

We recommend that you speak to your employer or the pension scheme administrator.

I have a complaint relating to my pension scheme, how do I make a complaint?

In the first instance raise your complaint with your employer or the administrator of the scheme.  If you are not satisfied with the outcome you may wish to contact the Financial Services Ombudsman.