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Workplace pension contributions rise takes effect

2019-09-02T11:29:03+01:00July 1st, 2019|Categories: Articles & Guides, Blog|Tags: , |

An increase in the minimum contributions employers and their staff must pay into their automatic enrolment workplace pension scheme took effect from 6 April 2019. From that date, the employer minimum contribution has risen from 2% to 3%, while the staff contribution also increased from 3% to 5%. As part of the ‘phasing’ process, the increases mean that total contributions for employees have gone up from 5% to 8%. It is the employer’s responsibility to ensure that these increases are properly implemented. The increases do not apply to employers using defined benefits pension schemes. The amount that the employer [...]

Minimum workplace pension contributions rise

2019-09-02T11:22:22+01:00May 3rd, 2019|Categories: Blog, PAYE|Tags: , , |

The minimum contributions employers and their staff must pay into their automatic enrolment workplace pension scheme increased with effect from 6 April 2019. From that date, the employer minimum contribution has risen from 2% to 3%, while the staff contribution also increased from 3% to 5%. As part of the 'phasing' process, the increases mean that total contributions for employees have gone up from 5% to 8%. All employers with staff in a pension scheme for automatic enrolment must ensure that they implement the changes and ensure that at least the new minimum amounts are being paid into their pension [...]