As part of the compulsory employment pensions the minimum contributions are increasing.
An employing business’s responsibility is to automatically enrol workers into a workplace pension – unless they choose to opt out.
From 6 April more of your employees pay will have to be deducted. This will mean that your employees will receive less in their take-home pay and it is advisable to warn them in advance of the change.
|April 6 2019 onwards||3%||5%||8%|
This is the last rate increase set in place when workplace pensions were implemented. Tax relief is received on such pension contributions for both employee and employer and if you would like to discuss pension contributions or tax planning in general please do contact us.
If you need help managing your Payroll speak to us! Our payroll bureau experts are waiting to help you with anything, including pension auto-enrolment.
- Outsourcing Your Payroll
Paying employees can be a hassle with deductions from salary, pension auto-enrolment and reporting benefits to be considered.
- Managing automatic re-enrolment
Once you’ve been running auto-enrolment for three years you’ll
have to re-enrol workers.
- Payroll issues for employers
A detailed guide for employers to the current concerns regarding payroll including auto-enrolment.
- Auto-Enrolment Payroll Service
How we help to make sure you avoid penalties from the Pensions Regulator
- Automatic Enrolment Guide
A Guide on how employers will be affected by the changes in Workplace Pensions