Workplace pension contributions are increasing 6 April 2018

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By Randall Payne

RPayne
30 Nov 2017

Workplace pension contributions are increasing 6 April 2018

The minimum amount that you and your staff need to pay into the pension scheme is going up.

On 6 April 2018, the minimum amount you will have to pay in will be 2% of your staff’s pay, and the amount your staff put in will rise to 3%. On 6 April 2019, this will rise again to 3% contribution from you and 5% contribution from your staff member.

You and your staff member can choose to pay more than the minimum contributions if you wish.

You don’t need to take any further action if you are already paying above the increased minimum amounts. These increases don’t apply to staff who asked to be put into a scheme that you don’t have to pay into.

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