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Briefing Note 112 - Automatic enrolment minimum contribution increases and pay
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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