Not sure on something?
On 6 April 2018, contributions into pensions will be increasing, with employees having to make up whatever shortfall remains of the new total minimum contribution.
Contribution levels will continue to rise until the employer is paying a minimum of 3% towards the pension and total minimum contribution levels reach 8% again with the employee making up the 5%
If the employer pays the same as the total minimum contribution then the employee does not need to pay any contributions, unless the scheme rules require a contribution.
If the employer contributes more than their required minimum amount – but less than the total minimum amount – then the staff member only needs to make up the shortfall between the total minimum and the employer contribution.
|Date effective||Employer minimum contribution||Staff contribution||Total minimum contribution|
|Currently until 5 April 2018||1%||1%||2%|
|6 April 2018 to 5 April 2019||2%||3%||5%|
|6 April 2019 onwards||3%||5%||8%|