Pension Contribution Rate Changes

Related imageMinimum Contribution Rates for Workplace Pensions are changing

This table shows the minimum contributions you must pay and the date when they must increase

Date Employer minimum contribution Staff contribution Total minimum contribution
Until 5 April 2018 1% 1% 2%
6 April 2018 to 5 April 2019 2% 3% 5%
6 April 2019 onwards 3% 5% 8%

More information can be found here, including a letter template to send to staff

Increase of Automatic Enrolment Pension Contributions

The minimum contributions that you and your staff pay into your automatic enrolment workplace pension scheme are increasing.

Minimum contributions are increasing in two phases. The first increase must be in place from 6 April 2018 and the second from 6 April 2019.

Most employers use pension schemes that currently require a total minimum of 2% contribution to be paid. The calculation for this type of scheme is based on a specific range of earnings. For the 2017/18 tax year this range is between £5,876 and £45,000 a year (£490 and £3750 a month, or £113 and £866 a week).

This table shows the minimum contributions you must pay and the date when they must increase:

Date Employer minimum contribution Staff contribution Total minimum contribution
Until 5 April 2018 1% 1% 2%
6 April 2018 to 5 April 2019 2% 3% 5%
6 April 2019 onwards 3% 5% 8%

The staff contribution rate may vary depending on the type of tax relief applied by your scheme. If you are unsure check your scheme documents.

The Pensions Regulator gives more details here

Pensions Auto Enrolment

Our advertised information morning on

Wednesday 16th September 2015

is already attracting interest.

Guest speaker Darren Wheatcroft, a local Independent Financial Advisor, will guide us through legislation which will have a major impact on all employers whether we like it or not!

Darren will also explain the pension freedoms brought about by the new legislation

To book a place, please contact us here

Autumn Training Courses

Our training courses in September are fast filling up, so don’t forget to book your place here

Tuesday 16th September 10am – 12 Noon

Pensions Auto Enrolment with Darren Wheatcroft

———————————————————————————————————- Wednesday 24th September 9:45am – 12:30pm

Charity Law and how it effects your group

Both of these courses will be at the Derby Bosnia & Herzegovena Centre  DE1 1LN where there is FREE PARKING available.

Auto-Enrolment Seminar

We are running a seminar on one of the most significant pieces of government legislation ever to affect employers.  On Tuesday 16th September our guest speaker, Darren Wheatcroft, will be informing us of all we need to know to be able to comply with the legislation.

Bosnia Herzegovena Centre

Bosnia and Herzegovena Centre

The venue will be Derby Bosnia and Herzegovina Community Centre, 99 Curzon Street  DE1 1LN.

The Seminar will start at 10am and will conclude at 12 noon.  Park at the venue for FREE!!

To book your place, please call us on 01332 364784, or contact us by email.