Pension rate changes – April 2019
The minimum contributions the employer and your staff pay into your automatic enrolment workplace pension scheme will increase from 6 April 2019.
| Employer minimum contribution |
Staff Contribution |
TOTAL minimum contribution |
|
|---|---|---|---|
| New rate: 6 April 2019 onwards |
3% | 5% | 8% |
| Old rate: 6 April 2018 to 5 April 2019 |
2% | 3% | 5% |
By law a total minimum amount of contributions must be paid into the scheme. The employer, must make at least the minimum employer contribution towards this amount and your staff member must make up the difference. If the employer decides to cover the total minimum contribution required, your staff won’t need to pay anything.
Further information is available from your pension provider and from The Pensions Regulator:
www.thepensionsregulator.gov.uk/en/employers/increase-of-automatic-enrolment-contributions
