Minimum Pension Contributions Will Increase On 6Th April 19
The minimum amounts you and your staff pay into your automatic enrolment pension scheme will increase from 6th April 19.
How this applies to you:
- If you have eligible staff in an automatic enrolment pension scheme you will need to make sure that at least the minimum amount is paid by you and your staff into the scheme
- If you don’t have any staff in an automatic enrolment pension scheme, you don’t need to take any further action
The table below shows the minimum contributions payable and the date when they must increase:
|Date Effective||Employer Contribution Minimum||Staff Contribution||Total Minimum Contribution|
|New Rate: 6/4/19 onwards||3%||5%||8%|
|Current Rate: 6/4/18-5/4/19||2%||3%||5%|
You may have agreed with your pension provider to calculate the minimum contributions in a different way. If this is the case, you will need to apply different increases. To find out what these increases are go to: www.tpr.gove.uk/certified-psn.
From 6th April 19 you must increase the contributions you pay into your pension scheme. Your pension provider and us as your payroll provider will deal with the increases.
It is your responsibility under the Pensions Act 2008, to make sure the right minimum contributions are being paid for your staff. You should let your staff know about any increases being applied to their contributions.
If you are already paying above the increased amounts, you do not need to take further action.
 Source: The Pensions Regulator