{"id":507,"date":"2025-03-14T11:13:00","date_gmt":"2025-03-14T11:13:00","guid":{"rendered":"https:\/\/www.experlu.co.uk\/dictionary\/?p=507"},"modified":"2025-03-26T08:36:15","modified_gmt":"2025-03-26T08:36:15","slug":"workplace-pension","status":"publish","type":"post","link":"https:\/\/www.experlu.co.uk\/dictionary\/workplace-pension\/","title":{"rendered":"Workplace Pension"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">What is Workplace Pension?<\/h2>\n\n\n\n<p>A workplace pension is a way of planning for retirement set up by an employer. Contributions are deducted from the employee&#8217;s salary and deposited into your pension scheme. Generally, your employer will contribute to your pension too.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Participating in a workplace pension<\/h2>\n\n\n\n<p>Any employer is required to provide a workplace pension plan. It is known as &#8216;automatic enrolment&#8217;.<\/p>\n\n\n\n<p>If any of the following apply, the employer is required to automatically enrol you in a <strong><a href=\"https:\/\/www.experlu.co.uk\/blog\/how-to-minimise-your-pensions-tax-bill\/\">pension scheme<\/a><\/strong> and make pension payments on your behalf:<\/p>\n\n\n\n<p>\u25cf You are working as a &#8216;worker&#8217;.<br>\u25cf You are between the ages of 22 and State Pension age.\u00a0<br>\u25cf You receive at least \u00a310,000 a year, and\u00a0<br>\u25cf You ordinarily work in the UK.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Workplace Pension contribution<\/h2>\n\n\n\n<p>Contributions are payments made to a pension scheme. There are minimum contributions for the employers and the employees.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-background\" style=\"background-color:#fcf0ef\"><tbody><tr><td><strong>Date<\/strong><\/td><td><strong>Employer minimum contribution<\/strong><\/td><td><strong>Total minimum contribution<\/strong><\/td><\/tr><tr><td>Before 5 April 2018<\/td><td>1%<\/td><td>2%<\/td><\/tr><tr><td>6 April 2018 \u2013 5 April 2019<\/td><td>2%<\/td><td>5%<\/td><\/tr><tr><td>6 April 2019 onward<\/td><td>3%<\/td><td>8%<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[62],"class_list":["post-507","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-workplace-pension"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is workplace pension?<\/title>\n<meta name=\"description\" content=\"Planning for retirement? 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