How much does it cost?

Pension contributions

As an employer, you will have to contribute a percentage of your employee’s salary to their pension pot.

The table below shows the minimum contributions you and your employees will need to pay, but you can choose to pay in more if you want to.

Date	Employer Minimum Contribution	Employee Contribution	Total Minimum Contribution
Current rate: 6 April 2019 onwards	3%	5%	8%
Previous rate: 6 April 2018 to 5 April 2019	2%	3%	5%

Member charges

Contribution charge

A contribution charge is deducted on each contribution going into the pension fund. This is 1.8%. For example: £80 is added to the fund each month. The contribution charge would then be £1.44 per month or a total of £17.28 per year.

Annual Management Charge (AMC)

An AMC is deducted off the value of the pension fund each year. This is 0.3%. For example: If the fund is worth £5,000 this means that the AMC for that year would be £15.

Investment Switching charges

Members who have chosen the Freestyle Option are entitled to switch investments twice per annum without an administration charge. Subsequent requests within a 12 month period may incur a charge, a decision which lies with the Trustee.

If you were on the Enhance scheme which is now WPTE then please see this page for charges information

The Scheme’s Board of Trustee Directors reviews the charging structure on a regular basis.