Auto Enrolment

- Tuesday, April 17, 2018

Don't get caught...

 

It's the NEW tax year so don't forget that the minimum contributions for Auto Enrolment are going up for both the employee and the employer.

As of the 6th of April 2018, employers must increase the amount of their contribution towards their staff's pension to 2% of qualifying earnings. Employees will have to make up the difference to meet the new total minimum contribution of 5%.

Be advised that the minimum contribution will rise again on the 6th April 2019, with the employer contributing a minimum of 3% towards the pension, with the employee contributing 5% to meet the minimum contribution of 8%.

Both the employer and staff member may choose to contribute a higher amount to the pension if they wish.