Workplace Pension

Workplace Pension

What is Workplace Pension?

A workplace pension is a way of planning for retirement set up by an employer.

Contributions are deducted from the employee’s salary and deposited into your pension scheme. Generally, your employer will contribute to your pension too.

Participating in a workplace pension

Any employer is required to provide a workplace pension plan. It is known as ‘automatic enrolment’.

If any of the following apply, the employer is required to automatically enrol you in a pension scheme and make pension payments on your behalf:

● You are working as a ‘worker’.
● You are between the ages of 22 and State Pension age. 
● You receive at least £10,000 a year, and 
● You ordinarily work in the UK.

Workplace Pension contribution

Contributions are payments made to a pension scheme. There are minimum contributions for the employers and the employees.

DateEmployer minimum contributionTotal minimum contribution
Before 5 April 20181%2%
6 April 2018 – 5 April 20192%5%
6 April 2019 onward3%8%

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