Pension gap to narrow following boost in living wage

An extra £150 a year in contributions could benefit some lower earners on the living wage

Jasmine Urquhart
clock • 2 min read
The 9.8% growth in the living wage for those aged 21 and over should have a positive effect on pension contributions, commentators have said
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The 9.8% growth in the living wage for those aged 21 and over should have a positive effect on pension contributions, commentators have said

Today’s increase in the National Living Wage could contribute to a closing of pensions gap for lower earners, industry commentators have said.

Ahead of the Autumn Statement today (22 November), chancellor Jeremy Hunt confirmed the living wage would increase by 9.8% to £11.44 from 1 April 2024 (for those aged 21 and over), with separate in...

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