I'm a foreign national who just started working in the UK, and I need to decide how much to put into my workplace defined contribution pension.
The consensus seems to be that even though there's no access to a UK private pension before 55 or likely later, it's simply too good of a deal to pass up maximizing the employer's match.
However, my employer lets me take the unused portion of their contribution as cash. Effectively, my salary is higher, but there's no employer match, all contributions are from my side ( + tax relief).
Being a higher rate (40%) tax payer, tax relief still makes it seem attractive, but as a foreign national unsure whether I'll be living in the UK in 20 years (when I'll be 55), I wonder whether I should account for additional risks in tying up money in a pension.
What are your thoughts?