Auto Enrolment Pension Contribution Increase in April 2019
Auto enrolment pension contributions will increase with effect from 6th April 2019.
What are the increases?
The amount you and your staff pay into the pension scheme will vary depending which type of scheme you have chosen. You can normally find this information from your pension provider. For 2018/19 tax year total minimum contribution was 5%, this will increase to 8% in total.
|Date||Employer Minimum Contribution||Staff Contribution||Total Minimum Contribution|
|6th April 2019||3%||5%||8%|
Who does this affect?
All employers with employees that pay into your pension scheme. You will need to make sure that you are paying the minimum pension contributions as stated above.
If you would like more information on the minimum pension contribution increase please see the pension regulator website.