Contributions: Employer Anyone and Pension System

contributions: Recent changes to the pension system have boosted the number of employees who save into one and benefit from contributions made by their employer, according to The Guardian. Anyone earning more than 10,000 from their firm is automatically enrolled into a pension, and their employer makes contributions, currently worth 1% of earnings. The pensions minister, Richard Harrington, has indicated that he is considering ways to include self-employed workers into the flagship auto-enrolment scheme, but he has not confirmed whether this will be part of a review planned for next year. However, those in self-employment or doing a patchwork of low-paid jobs are not able to save through the scheme. It is not sustainable government policy to exclude the self-employed, who are no longer made up solely of the traditional small business owner but now include a fast-growing contractor population, he said. The Guardian view on golden oldies time to move over Editorial Read more Steven Cameron, pensions director at insurer Aegon, said the changing nature of self-employment meant that the government needed to act. (news.financializer.com). As reported in the news.