This April sees a further increase in the level of pension contributions required to be made by both employers and employees. The total minimum contribution will rise from 5% total to 8%, with the employees contributions rising to 5% of gross pay and the employers contribution rising to 3%.
It will be interesting to see, with this latest increase, whether more employees choose to opt out as the payroll deductions becomes more noticeable.
You can find more information about ongoing employer duties and the increase in minimum contributions on The Pensions Regulator webpage.
