EXCLUSIVE: Majority of employers contribute above auto-enrolment minimum

auto-enrolment minimum

EXCLUSIVE: The majority of employers are contributing higher rates into their employees’ pensions than the minimum amounts required under auto-enrolment, according to research by Employee Benefits.

The Employee Benefits/Wealth at Work Pensions research 2019 was conducted during October 2019 among 135 HR decision makers.

Legislation calls for employers to contribute at least 3% of an individual’s qualifying earnings, with a 5% input from the employee; however, 25% of respondents’ organisations contribute 5%, 21% provide between 6% and 10%, and 12% make a contribution of more than 10% of an employee’s salary each month.

Promisingly, 48% of respondents have 90% or more employees enrolled in their primary pension scheme, a figure which has fluctuated very little since auto-enrolment was introduced.