Friday, Aug 11, 2017

Auto enrollment torpedo incoming

CityAM: The pensions submarine will sink low earners with auto-enrolment torpedos

By 2019 wage costs for employers are going to rise, while at the same time wages received by employees is going to fall. Consider this with the previous post.

Posted by stillthinking @ 02:16 AM (2321 views) Add Comment

2 Comments

1. mombers said...

Not to mention the new 0.5% payroll tax for apprenticeships. This brings total obfuscated taxes on earned incomes to a whopping 16.3% - pushing the effective marginal tax rate to 41.5% on earnings over £11k. I wrote to my MP and said just be honest and tack it onto the EMPLOYEE's earned income tax a.k.a. National Insurance... Working for a salary is a mug's game, best to dress up income as dividends + capital gains and pay a lower rate than people on minimum wage.

Friday, August 11, 2017 12:43PM Report Comment
 

2. jack c said...

The opt out rate on auto enrolment pensions has been surprisingly low so far however I expect this to rise potentially quite dramatically as the contribution rate increases.

Friday, August 11, 2017 04:48PM Report Comment
 

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