21 February 2018

Dear Customers,

Please note that from April 2018 the minimum contributions for Pension Auto Enrolment will be increasing from 1% gross of salary contributed by the Employer and 1% gross salary contributed by the Employee to a 2% contribution by the Employer and 3% by the Employee.

The contribution rates will then increase again from April 2019 to a 3% Employer contribution and a 5% Employee contribution.

It is not a mandatory requirement to inform staff of the increase, however it is suggested as a professional courtesy.

If the employee does not wish to pay this increased contribution and your pension scheme is with Nest, then they would need to Opt out of the scheme.