Posts Tagged ‘Auto enrolment’

Image courtesy of Flickr_Sheila Sund

Next stage of automatic enrolment

Since 2012 employer and employee automatic enrolment contributions have totaled 2% of ‘band earnings’, with the employer having to pay at least 1%. From 6 April this year, the minimum contributions will rise to 5%, with 2% from the employer. The extra outlay could be significant, especially for employees. Taking someone earning £26,000 a year [...]

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Auto-enrolment moves to the next stage in April: are you ready?

Automatic enrolment of employees into workplace pensions has been much more of a success story than predicted. In the last three years, over 8.5 million people have begun saving for their retirement and almost 800,000 employers have successfully complied with their automatic enrolment duties, according to The Pensions Regulator. A key factor that helped the [...]

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Image courtesy of Flickr_Pink Sherbert Photography

Auto-enrol fines spike as firms miss deadlines

The Pensions Regulator issued 576 escalating penalty notices to employers that failed to comply with auto-enrolment rules between July and September, more than 15 times the amount in the previous three months. Between April and June, TPR handed out 38 escalating penalty notices. Employers that receive such a notice will receive a penalty of between [...]

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