Wettone Matthews

 
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Pension Contributions to Increase in 2018 & 2019


By law, on 6 April 2018, you are required to increase the amount of minimum contributions that you make into your staff's automatic enrolment pension to at least of 2% of qualifying earnings. 

Members of staff will have to pay the shortfall needed to make the total minimum contribution up to 5%, including your contribution.

The minimum contribution levels will rise again on 6 April 2019, with you paying a minimum of 3% towards the pension, and the total minimum contribution reaching 8% - with your staff making up the difference.

Please see below a summary of the required current and future contributions;

​Date Effective ​Employer minimum contribution ​Staff contribution ​Total minimum contribution
Currently until 5 April 2018 ​1% ​1% 2%​
​6 April 2018 to 5 April 2019 ​2%3%​​5%
​6 April 2019 onwards 3%​5%​8%​

​If you would like to discuss this further, or are concerned about keeping up to date with the upcoming changes, then do not hesitate to contact us.

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