Contributions are the amounts of money that get added into your pension pot – usually on a regular basis.
- Usually you’ll pay a small percentage from your wages, and your employer pays some more.
- And your employer’s payment has to meet at least the government’s minimum percentage.
- A lot of employers set the percentages at these minimum levels, but some give you more.
The other thing to note is that 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.