Updated: Jan 18, 2018
The Pensions Regulator has confirmed the minimum increases due in 2018 and 2019, it will see employee minimum pension contributions rise from 1% to 3% on 6th April 2018 and then a further Increase from 6th April 2019 to 5%. Employers will also see a rise in the minimum contributions from the current 1% to 2% in April 2018 and then a further increase to 3% in April 2019.
By law on 6th April 2018 all employers are required to increase their contributions into their staff’s automatic enrolment to at least 2%. Employers who fail to meet their duties are at risk of having a visit from The Pension Regulator, this is part of The Pension Regulators ongoing enforcement activity to ensure employers are meeting their automatic enrolment duties.
Certain people are excluded from the employer’s automatic enrolment duties, such as directors who are not working under an employment contract, trustees and directors who are the only employee in their company. If all of an employer’s staff are excluded, then the employer will have no automatic enrolment duties. If they have received a letter from The Pensions Regulator with a staging date, they should go to TPR’s website to tell them that they are not an employer.
If you’re still not sure or don’t feel comfortable RollPay provide a simple pension service, branded as your business (your clients think you’re doing it!) we can organize postponement, pension setup and ongoing AE obligations including assessment, calculation, letters, and pension data sync.
Contact me today for an informal chat on 0800 1310131 or email firstname.lastname@example.org