Currently there has been no change to legislation, so the current statutory minimums remain the same. If you’re currently paying employees above the minimum, you can reduce this, but contributions must remain above the minimum levels. You can find out what those levels are on our website.
Some employees may decide that they wish to stay in the scheme but lower their contribution rate below the minimums. We can help you set this up, but you can’t impose this on your employees as that would be breaking the regulations.
If an employee decides they can’t afford any contributions, they will need to opt out; either online, by phone or by form directly with The People’s Pension. You can’t influence your employees on this decisions as that would be a breach of the regulations.