Maximum amount that can be paid into auto enrolment pension

vet8

I cannot find this information on any site, but is there a maximum amount that an employer and staff member can pay into an auto enrolment scheme? It would be financially beneficial for me to pay in a large percentage from my own small company. I will also be over the state retirement age, but I assume I can still pay in if I want to.


Thanks

Paul_Herring

I'd suggest that you ask this on the main (parent) pension board - this one is rarely visited by people so your audience is likely to be small.

But in general, the only legal limits are those mandated by the government (e.g. £40K/gross wage (whichever is less.))

Individual auto-enrolment schemes/employers may impose their own limits on top of that of course, but they are (to belabor the point) scheme specific.

The only other limit, if going with salary sacrifice, is that you may not contribute more than gross wage minus minimum wage

mania112

If you're thinking of contributing significant amounts you'd probably want to ensure it's a half-decent pension.

The qualifying 'auto-enrolment' pensions tend to be lower end - in terms of quality. So you might want to find a GPP or PP which is ALSO qualifying.

But to answer your question, there shouldn't be any different rules (so max is £40k or 100% of salary), you just might have provider-specific restrictions depending on who the pension is with.

Brightspark87

also - make the contributions from the company not you personally if you have the PAYE income to cover it. You save the employers and employees NI.