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:
||Employer minimum contribution
||Total minimum contribution
|Until 5 April 2018
|6 April 2018 to 5 April 2019
|6 April 2019 onwards
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
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
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.
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 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.
Our new Summer 2014 newsletter is now available. If you have not received your copy, or would like to look again, then you can access the newsletter here
Hopefully you will all have received our Spring newsletter.
In it we covered:
Automatic Enrolment for Pensions, Tax and National Insurance Thresholds for the current tax year, and Conflicts of Interest.
You can download a copy here.