4th January 2018
Increase in minimum contributions for Automatic Enrolment Pensions
Filed Under: Accounting, Business News, Tax
Under the Pension Act 2008, from 6 April 2018 the minimum contributions employers and employees must pay into their workplace pension scheme will increase to:
- Employer minimum contribution – 2%
- Employee minimum contribution – 3%
- Total minimum contribution – 5%
All employers must take action to make sure at least the minimum amounts are being paid into their Automatic Enrolment pension schemes.
For any queries, please contact our Payroll Manager on 01903 300230.
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