Pensions auto enrolment contributions to rise

Pensions auto enrolment contributions to rise

From 6 April 2019 the minimum pension contributions due to be paid by employers and their employees into their auto-enrolment pension schemes are to increase to a minimum of 8% (total). The total contribution of 8% must include a minimum 3% employer contribution.

Duration Employer minimum Total minimum contribution 
Current contributions 2% 5%
6 April 2019 onwards 3% 8%

 

The Pensions Regulator has produced guidance for employers on dealing with the increase including a letter template to advise employees of the change.  

Contact us if you would like help with auto enrolment.

Internet link: TPR increases

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