Employment contract cites repealed legislation

[jadlk]

I have had an employment contract come through that cites, under pension, Section 640-640A of the Income and Corporation Taxes Act 1988. This legislation has been repealed. What has it been replaced with?

The pension is paid into 'the scheme' monthly, and is of an annual amount, which is the "lesser" of:

- 6% of salary, not to exceed the earnings cap in Section 640A of the above act; and
- maximum amount which may be deducted from my earnings pursuant to 640 of the above act.

Is this normal, or have the company made an error by not updating their employment contract?
Can somebody explains what these pension 'rules' mean citing the legislation that has superseded it? I don't seem to be able to find what the earnings cap is anymore.

Cheers

[ULA]

This section has most certainly been repealed. What is in place now for company pension schemes is auto enrolment which currently requires a minimum of 8% of salary to be put into a company pension scheme, 5% by employee and 3% by employer. An employee can put in more than 5% if they wish but there is a maximum amount you can put in each year currently £40k I believe.

Not sure if that has answered your question.

[jadlk]

This section has most certainly been repealed. What is in place now for company pension schemes is auto enrolment which currently requires a minimum of 8% of salary to be put into a company pension scheme, 5% by employee and 3% by employer. An employee can put in more than 5% if they wish but there is a maximum amount you can put in each year currently £40k I believe.

Not sure if that has answered your question.

Thanks, ULA. So, should I ask them to re-write this contract of employment to replace the outdated terms or simply sign it knowing that it's superceded by Pensions Act 2014 or similar?

[ULA]

If it was me, I would not sign a contract with outdated terms and I would ask them to update accordingly.