Increase to Auto-Enrolment Pension Contribution Rates

Is your auto-enrolment scheme set up with the employer paying a minimum pension contribution so as to comply with government rules?

If so, you will have to make changes in April 2018.

Minimum Pension Contribution:

From April 2018 the total minimum contribution increases from 2% to 5%. The employer pays a minimum 2%.

From April 2019 the total minimum contribution increases from 5% to 8%. The employer pays a minimum 3%.

Further reading:

You can get some more information from The Pensions Regulator’s website┬áhere.

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