The minimum contributions employers and their staff must pay into their automatic enrolment workplace pension scheme increased with effect from 6 April 2019. From that date, the employer minimum contribution has risen from 2% to 3%, while the staff contribution also increased from 3% to 5%. As part of the ‘phasing’ process, the increases mean…
Tag Archives: pensions
From April this year it will be possible to take money purchase pensions benefits as virtually any mix of lump sum and income. The details are still being worked out but many people are not aware that there are tax implications to this.