Following the government’s announcement that an estimated 7 million people in the UK are not saving enough money for their retirement the law on workplace pensions has changed, with the government’s aim for more people to have an additional income post retirement on top of the State Pension. The government has passed legislation that employers automatically have to provide a pension for all their employees to make it easier for people to start saving.
From 1st February 2017, Larbey Evans is delighted to announce that all of our employees will be automatically enrolled, meaning that the minimum payments into pensions each payday will be:
• A minimum total contribution of at least 2% of your qualifying earnings,
• Of which our contribution will be at least 1% of your qualifying earnings.
• This will include tax relief, if applicable.