Pension Automatic Enrolment Updates
The minimum automatic enrolment pension contributions will be increasing again from 6 April 2019. The total contribution of the employer and employee combined will increase to a minimum of 8%. Of that 8% this must be made up of a minimum of a 3% employer contribution and the remainder to be made up of employee contributions.
Employers are also required to re-enrol for automatic enrolment purposes every three years from the anniversary of their staging date. This will mean re-enrolling any of your employees who chose to opt out of the pension even though they are eligible. This re-enrolment process can be completed in the period three months prior and the three months after your three year anniversary of your staging date so you have a total of six months to complete it.
Employees can continue to opt out of the pension if they wish but this must be done directly with the pension provider. As employers you issue your employees with opt out forms. Once the opt out process has been completed between the pension provider and employee the pension provider will issue a refund for any pension payments that have been made.
Alice Gay ACCA ACIPP
Chartered Certified Accountant
Alice joined Evolution ABS in July 2013 after completing her A Levels at the Woodroffe School. She has completed her AAT with Richard Huish College, and was nominated for higher apprentice of the year in Somerset and finished in the top 3. Alice has recently passed all of her ACCA exams and officially qualified in May 2018, since this, Alice has now completed her Payroll Technician Certificate.
In her spare time she is an active member of Axminster Young Farmers, and enjoys riding her horse and walking her dog. She lives at home with her family who have a dairy farm in East Devon and enjoys being outside in the countryside whenever possible.