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Chartered Certified Accountants
and Business Advisors

01530 267320

Pensions

The contributions into workplace pensions will rise to a 2% employer minimum and 5% total. They are currently 1% and 2% so when your employer’s contributions rises to 2%, employees will need to make a 3% contribution.

There has been no announcement yet on the auto-enrolment earnings threshold for 2018/19 (the qualifying earnings bands are linked to the NI thresholds).

The lifetime allowance rises to £1,030,00 in April 2018 and will rise by inflation each tax year thereafter. There are no changes to the annual allowance of £40,000, the tapered annual allowance of £10,000 or the money purchase annual allowance of £4,000 for those who have withdrawn money from a money purchase pension scheme after the age of 55.

20 Feb 2018

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