AUTOMATIC ENROLMENT PENSIONS
MINIMUM CONTRIBUTION INCREASES FROM 6 APRIL 2019
With effect from 6 April 2019, the minimum automatic enrolment contributions are:
Employer minimum contribution 3%
Employee minimum contribution 5%*
*Employee contributions are effectively 4% after 20% tax relief.
As an employer, if you do not comply The Pensions Regulator will issue statutory notices, followed by penalty notices. Deliberately failing to enrol eligible employees and knowingly including false information on your declarations are criminal offences. For more detailed information on auto enrolment responsibilities and penalties go to The Pension Regulator.
As always, please contact us if you require more information.