Automatic Enrolment is about to change… are you ready?
By law, the total minimum contributions rates for automatic enrolment are increasing. This is known as ‘phasing’.
On the 6th April 2018, employers are required to increase the total contributions into their employee’s pension pot from 2% to 5%. Employers will be required to contribute a minimum of 2% with the employee contributing the remaining 3%.
Minimum contributions will undergo a further increase next year on the 6th April 2019, with the total minimum contributions increasing from 5% to 8%, representing a 3% employer and 5% employee contribution.
To businesses who we work with – if you wish for us to assist you with this, please provide us with instruction in writing via letter or email. You can find all of our details on our contact page.
If you could benefit from an accountant that gives you more than just numbers,
then its time to get in touch!
Call DP Accounting today on 01246 451 133
We look forward to hearing from you!