Employers are reminded that the minimum required contribution levels to auto-enrolment pension schemes or qualifying workplace pension schemes (based on a worker's 'qualifying earnings') increase from 6 April 2018.
From that date, the employer minimum contribution rate will be 2 per cent and the staff minimum contribution rate will be 3 per cent.
There will be a further increase from 6 April 2019, when the employer minimum contribution rate will rise to 3 per cent and the staff minimum contribution rate will rise to 5 per cent.
Failure to comply will mean that the pension scheme will no longer be a qualifying scheme for existing members and cannot be used for automatic enrolment.
Further information and detailed guidance for employers can be found on the website of the Pensions Regulator.
For help or guidance on this or other related employment matter, please contact 0121 746 3300.
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