Workers' pension deductions triple to 2.4% - but those sticking with auto-enrolment could see retirement pots quadruple



Millions of workers face a tripling of pension contributions to 2.4 per cent of their wages under auto-enrolment changes starting today.
The move is aimed at helping people build a bigger pot towards a comfortable retirement, but experts say the hike could feel like a 'harsh jolt' when people get their pay packets this month.
On top of your own increased payment, your employer's free top-up will rise to 2 per cent of your salary, and the Government throws in a further 0.6 per cent in tax relief - bringing your total contributions to 5 per cent of qualifying earnings. Read a fuller... read more

 
6 April 2018 in Business, Views: 50
Source: Daily Mail
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