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Auto-enrolment update Over one million workers have now been auto-enrolled into workplace pensions. The money employees save into their pension is being matched by contributions from their employers and topped-up by tax relief, helping them put money aside for their retirement, many for the first time. Auto-enrolment will be operational in all organisations by 2018 and applies to workers aged 22 and over (but under state pension age), who earn more than £9,940 per year and are not already in a qualifying pension scheme. The minimum auto-enrolment contribution is currently 2 per cent – with an employer contribution of at least a 1 per cent. But the required overall contribution is set to increase to 8 per cent in the future. If you have not been required to auto-enrol yet it is useful to make sure the appropriate systems are in place and that you have the right people up to speed on the matter. You will be notified by the Pensions Regulator of your staging date. Don’t let auto-enrolment creep up on you – make sure you’re ready.

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