You may be forgiven for thinking that members are free to pay whatever contributions they wish to their workplace pension scheme. Unfortunately, this is often not the case and many providers insist on minimum amounts, or impose restrictions which can mean that members are unable to use the scheme to their best advantage.
One Scheme allows complete flexibility within the legislation in force at any particular time.
- No minimum contributions levels, other than those required under auto-enrolment.
- Maximum contributions according to relevant legislation (currently £40,000 pa).
- One Scheme caters for payment of contributions via salary-exchange.
- Contributions may be altered at any time.
- Transfers into and out of the scheme are allowed.