New workplace pension limits from 6 April 2019

posted on March 5, 2019in the Blog Category

New workplace pension limits from 6 April 2019

The amounts that employers and workers will be required to pay into workplace pensions are due to increase from 6 April unless the worker opts out. The new limits will be 5% from the worker and 3% from the employer. The total minimum contribution will therefore increase from the current 5% overall to 8%.

In some schemes, your employer has the option to pay in more than the legal minimum. In these schemes, you can pay in less as long as your employer puts in enough to meet the total minimum contribution of 8%.

Do you want to have a more in depth understanding of the changes, we recommend reading this.

Please get in touch if you have any further questions, Sue, Jacque and Stella in our Payroll department are happy help.

AvatarWritten By: MBL Marketing

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