Here is a reminder that the minimum automatic enrolment contributions will be increasing from the pay reference period that includes 6 April 2018. This is the first of two phased increases to minimum contributions, the increase for the second phase being from 6 April 2019.
The current minimum contributions are 1% Employer and 1% Employee. These are increasing as detailed below:
|Date||Employer minimum contribution||Staff contribution||Total minimum contribution|
|Until 5 April 2018||1%||1%||2%|
|6 April 2018 to 5 April 2019||2%||3%||5%|
|6 April 2019 onwards||3%||5%||8%|
Employers don’t need to take any further action if you don’t have any staff in a pension scheme for automatic enrolment, or you are already paying above the increased minimum amounts.
If you are a Robson Laidler client RL Payroll will increase contributions automatically on your behalf.
If you become an employer for the first time on or after 1 October 2017, your legal duties to comply with automatic enrolment begins the day the first member of staff started working for you.
For help and advice please contact Amanda Cowie, Robson Laidler Wealth firstname.lastname@example.org
If you would like help with your payroll please contact Michael Rivett, Robson Laidler Payroll email@example.com