If you’re an employer with staff in an auto-enrolled pension scheme, there are a few changes to contributions in April that you need to be aware of.

Below is a summary of the new contributions for employers and their employees.

Firms with employees in auto-enrolment pension schemes will need to ensure that their schemes comply with the new minimum pension contribution requirements taking effect on 6th April 2019.

However, companies do not need to take further action if either they don’t have any staff in a pension scheme for automatic enrolment, or if they are already paying at or above the increased minimum amounts.

The contributions paid into a pension scheme by firms and their employees will vary depending on the sort of scheme in place.

If you’d like to find out more about updating your pension schemes in Oracle EBS, via a Managed Services provider that puts your interests first, contact Claremont to discover how we can help you.

References:

https://www.thepensionsregulator.gov.uk/en/employers/increase-of-automatic-enrolment-contributions

 

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