Pensions Accounts - Budget 2009
Pensions Accounts - Budget 2009
by Ashley Clark, Director
Pensions Accounts: New Compulsory 'Private' Pensions Start in April 2012
If you do not currently pay into a pensions scheme, you soon will be forced to. Changes have been made in the Pre-Budget 2009 report to Pension Accounts as follows:
- Employer contributions start at 1% of salary. This rate will increase to 2% in 2016 and 3% in 2017 (originally hitting 3% by 2016).
- There will now also be concessions for new companies that start up as well as additional help for very small businesses.
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