When will the changes affect you?

What is a pension?

To find out what workplace pensions are, how they work and what they mean for you visit: Pensions explained

Your employer could choose to start using NEST before the new employer duties apply to them.

Large employers will have to comply with the new workplace pension duties first, with medium and smaller employers having to comply later.

From 2012 the minimum contribution will be 2 per cent of a worker’s qualifying earnings. Of this, your employer will need to pay at least 1 per cent, though they can pay more if they want to.

When the duties start to apply, this limit will be the same but will rise gradually to 8 per cent of which your employer will need to pay 3 per cent.