From 2012, as a UK employee, you will be forced to pay into a company pension scheme under the new National Pension Savings Scheme (NPSS), also called Personal Accounts.

Under the new NPSS system:

• employees will pay 4% of their salary into a pension scheme
• employers will have to contribute 3% (earnings will be banded, approximately £5,000-£33,000)
• the Government will contribute 1% in tax relief.

All UK employees will automatically be enrolled - unless you are a member of an existing occupational pension scheme which has contribution rates above those of NPSS. Your occupational scheme must meet minimum standards.

For more help to understand NPSS, call us on 01202 312288 or fill in the email contact form below...

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