Wettone Matthews

 

Wettone Matthews news

Welcome to our blog where we will share our latest news, commentary on financial current affairs and share useful information.

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.

Tax planning - Upcoming fall in the tax-free Divid...
Save the Children - Christmas Jumper Day

Related Posts

Call us now on
01420 543001 to book a free consultation, or ask us about our price guarantee

guarantee new