Auto-enrolment: Five fascinating facts as minimum contributions rise

Today, minimum workplace pension contributions have risen to 5% after being at 2% of qualifying earnings since the inception of the government policy in 2012. Employers now have a duty to contribute a minimum of 2%, and employees will make up the further 3% to reach 5%. However, if an employer chooses to contribution more, for example, 3%, the employee will only have to contribute 2% to bring them up to the threshold. In April 2019, minimum contributions are set to rise again to a minimum of 8%. In celebration, Professional Adviser has put together five key facts about the polic...