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AE CONTRIBUTIONS NOW AT 5%
Auto-enrolment contributions have increased to 5%, in the second round of planned increases.
Last year’s increase had virtually no impact on scheme opt-out rates, but the latest hike could make people think twice about paying into their pension.
For someone on an average wage of £27,000, paying the minimum into their pension, their personal contribution after April has increased by over £400, to top £1,000.
If you need help telling your employees about the latest changes, get in touch. We’re working with some of the biggest names on the high street to make the case for staying put.
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