Buzz People

Ten million people face higher pension payments

Ten million workers in the UK will now see a bigger chunk of their wages automatically diverted to a pension, starting with their next pay packet.
New rates taking effect on Saturday mean employees, employers and the government will all contribute more to these pension pots.
That will mean less take-home pay for many people who are automatically enrolled into a workplace pension.
However, workers have the option of opting out of the scheme at any time.
This creates a choice between saving for the future or taking money now.
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