Important Notice February 2019
Minimum workplace pension contributions will soon be increasing
We are writing to let you know that the minimum amount paid into your workplace pension, both by you and by us, is going to increase. This is a nationwide change, involving millions of people and their employers across the country. Changes take place in April 2019 – it’s the law.
The table below shows what the base contributions are, and the dates they will rise. You can also choose to give more than the minimum amount should you wish.
|Date effective||Employer minimum contribution||Employee minimum contribution||Total minimum contribution|
|Currently until 5 April 2019||2%||3%||5%|
|6 April 2019 and onwards||3%||5%||8%|
Remember, your workplace pension is a simple way to help you save for your future so that you will have more money to continue doing the things you enjoy when you retire. And the earlier you start to save, the more money you will have when you come to retire, as your money has had time to grow.
Get to know the benefits and find out more if you have any questions at: http://www.workplacepensions.gov.uk/employee/
Please note we are unable to give advice or answer questions on your personal pension in any capacity, please contact your provider NOW Pensions
Scattergoods Agency Ltd