Government will not 'force pace of change' in AE

The pensions and financial inclusion minister yesterday (19 February) told the House of Commons that the government needed to understand the impact of other elements of AE before modifying the programme any further. It comes as minimum total contribution rates are set to rise from 5% to 8% in April, having risen last year from 2%. Employees will face a higher proportion of the overall contribution rate, with this rising from 1% pre-2018, to 3% last April, to 5% this April. In its 2017 review of AE, the government committed to reducing the lower earnings threshold and lowering the age ...