How much is enough for pension contributions?
Pension contributions have recently risen for many people, but the increase may still not be enough to fund a comfortable retirement. The latest round of pre-planned increases to minimum pension contribution rates under automatic enrolment (AE) workplace...
Auto Enrolment Six Years On
Pension savings have grown after six years of automatic enrolment, but more progress is required to provide most people with adequate funds for retirement.
Next stage of automatic enrolment
Since 2012 employer and employee automatic enrolment contributions have totalled 2% of ‘band earnings’, with the employer having to pay at least 1%. From 6 April this year, the minimum contributions will rise to 5%, with 2% from the employer.