Minimum wage: Brits could get pension benefit thanks to National Living Wage rise | Personal Finance | Finance


“Currently, eligible employees working full-time on the National Living Wage will have a total pension contribution of £884, which will increase to £1,018.

“While this may not seem a lot, with compound investment growth over many years even a small increase will prove very beneficial to future retirement savings, especially for those early in their careers.

“In a workplace pension scheme, employees also benefit from ‘free’ money from their employer which is added to their pension pot.”

Earlier today, the Low Pay Commission published a report into the status of, and forecasts for, the National Living Wage.



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