The government’s furlough scheme has hit pension contributions by 25%, higher than the 20% wage cut the scheme offers, according to research by Now Pensions.
The pension provider revealed the effect of furlough had reduced pension contributions by a quarter, due to the mathematics of the system, meaning the first £120 of weekly pay is not pensionable. ...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
