HR Update on Auto Enrolment Workplace Pension Contributions from April 2019
What is changing?
From 6 April 2019 the following will come into force:
- Auto Enrolment Workplace Pension contributions will increase as follows:
- Employee minimum contributions will be 5% of salary (from 3%)
- Employer minimum contributions will be 3% of salary (from 2%)
What do I need to do?
- Ensure the increased minimum contributions are made and passed on to your pension provider through your payroll system.
- Inform your employees of the increase in contributions. Apart from being a legal requirement to inform employees, notification in advance of the increase could help employees with their household and disposable income planning.
Where Can I Find Further Information?
To discuss how the team at Greens Consultancy can support you in addressing these areas, contact us by phone or email. Contact us on 0116 216 9224 or at email@example.com