Automatic enrolment minimum contribution increases and pay

Document type
Briefing
Author(s)
Jethwa, Chetan
Publisher
Pensions Policy Institute
Date of publication
4 April 2019
Subject(s)
Social Policy, Poverty Alleviation Welfare Benefits and Financial Inclusion
Collection
Social welfare
Material type
Reports

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From April 2019, the minimum Automatic Enrolment (AE) pension contributions will increase from 5% to 8% of band earnings, altering the level of take-home pay and total remuneration to members in workplace pension schemes. This could potentially change employees’ attitudes to AE and there is debate as to whether this could lead to a high number of employees stopping saving into a pension scheme, or conversely be of benefit to more adequate incomes in retirement.

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