Monday, 15 October 2012

Low paid workers could miss out on pension auto-enrolment

by agency reporter on Ekklesia: a new way of thinking

Over half a million low-paid workers, 80 per cent of whom are women, could lose thousands of pounds in employer pension contributions for people to be auto-enrolled into workplace pensions, the TUC has warned today (12 October).

Under pensions auto-enrolment, which started for staff in big companies earlier this month, employers and employees will pay contributions on earnings above £5,564, but only if staff earn above £8,105.

However, the government is currently consulting on raising the lower earnings limit and the earnings trigger to £5,720 and £9,205 respectively.

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