Payroll News - Auto Enrolment: Increase to Minimum Pension Contributions
Posted 1st March 2018
The minimum employers have to contribute into their staff’s pensions goes up from 1% to 2% of qualifying earnings from 6 April 2018. The overall minimum will increase from 2% to 5%, meaning if the employer pays 2%, the staff member will have to pay at least 3%.
The next increase will take place in April 2019, rising to a minimum 3% for employer contributions, and 5% for staff.
We have a qualified and experienced payroll team who would be happy to assist you with any queries you may have.