Living Pension Guidance and FAQs

when calculating the Living Pension? Does both the employer and the employee need to contribute to the pension to meet the Living Pension 12................... [...] Do employers need to be Living Wage accredited to be Living Pension accredited? Yes, employers need to be Living Wage accredited to be Living Pension accredited. [...] What do Living Pension communications to employees need to cover? Communications must be issued to all employees annually covering the basic Living Pension standard and highlighting the need to plan individually, with signposting to the methodology, MoneyHelper and Retirement Living Standards for more information. [...] How often is the Living Pension Standard reviewed? Or how often and when will the Living Pension Standard change? As the cash target is linked to the Living Wage (12% of a full-time Living Wage based on a 37.5 hour week), the cash target will be reviewed each year in line with the Living Wage. [...] Does both the employer and the employee need to contribute to the pension to meet the Living Pension standard? At enrolment, the employer must contribute at least 7% to the employees pension and the remaining amount can come from the employee to meet the standard of 12%.