Everything you need to know from today's DWP auto-enrolment review...
The earnings threshold at which an individual is automatically enrolled into a workplace pension will be increased and aligned with the income tax personal allowance. This is currently set at £7,475 for 2011. Thresholds at which pension contributions become payable are aligned with the National Insurance primary threshold. Workers can opt in to saving and receive an employer contribution if they earn between these two thresholds. Auto-enrolment will apply to everyone in employment aged 22 to state pension age, which will reach 66 by 2020. The automatic enrolment duties should apply ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes