We pay more than the statutory minimum contributions, can we reduce this?

If you use a defined contribution (DC) pension scheme and your employer contribution under your scheme is more than the statutory minimum, you may be able to decrease it to the statutory minimum.  However, you cannot legally reduce your contributions to below the statutory minimum.

Please note that employers with at least 50 employees with a DC pension scheme, are legally required to consult with members if they’re making changes that decrease employer contributions.

You can stay up to date by visiting The Pensions Regulator’s website.

Was this article helpful?

Please score it so we can improve and offer you more

7 people found this helpful