A hike in pension contributions will take a little more out of pay cheques, effective this month.According to Department of Social Insurance, the new weekly rate has increased from $60.80 to $64.14 — divided equally between employer and employee at $32.07 each.Bermuda Employers Council President Keith Jensen said called even small increases unwelcome during a recession.“It’s a concern not only to business but to staff,” he said — especially in cases of reduced hours, reduced wages or fewer household members working.“Consequently, everyone looks to see what they can do to minimise expense, or cut out some expense so they can cover this one.”According to a spokeswoman, the increase is in accordance with the Contributory Pensions (Amendment of Contributions and Benefits) Order 2011.The new rate went into effect on August 6.