Contributions are the amounts of money that get added to your pension pot – usually on a regular basis.
- Usually, you’ll pay a small percentage from your wages, and your employer will pay some more.
- And, if you were auto-enrolled, your employer’s payment must meet at least the government’s minimum percentage.
- A lot of employers set the percentages at the auto-enrolment minimum levels, but some give you more.
The other thing to note is that, if you are auto-enrolled, an employer’s contributions are often only based on the part of your salary that’s between £6,240 and £50,270 – although some employers do go above the upper limit.