Auto Enrolment Pensions

With auto enrolment in to a pension scheme now being available for most employees in the UK I thought it was time we looked at what this potential pot of money could become and will it give you enough money to live in retirement.

The UK scheme initially had a minimum contribution rate of 2% this was shared between the employer and employee at 1% each this was effective until April 2018. From April 2018 – April 2019 the minimum contribution rate is 5% with 2% from the employer and 3% from the employee. From April 2019 the final increase will take the minimum contribution rate to 8% with an employer contribution of 3% and an employee contribution of 5%. read more