A new tax year brings new pension contribution changes. In celebration of a raise in minimum auto-enrolment pension contributions, Professional Adviser has put together five of the most interest facts about automatic enrolment (AE).
Today, minimum workplace pension contributions have risen to 5% after being at 2% of qualifying earnings since the inception of the government policy in 2012. Employers now have a duty to contribute a minimum of 2%, and employees will make up the further 3% to reach 5%. However, if an employer chooses to contribution more, for example, 3%, the employee will only have to contribute 2% to bring them up to the threshold. In April 2019, minimum contributions are set to rise again to a minimum of 8%. In celebration, Professional Adviser has put together five key facts about the polic...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
