Clients’ automatic enrolment duties include increasing the amounts they and their staff pay into the pension over a number of years. This is known as ‘phasing’.
The date the minimum contributions were due to be increased has changed in order to align with the tax year.
So now, instead of contributions increasing from 2% to 5% in October 2017, and from 5% to 8% in October 2018, they will now rise in April 2018 and 2019.
It should be noted this is not a delay to automatic enrolment, and employers’ staging dates will remain the same.
Our clients do not need to take any action, we will automatically increase the pension contributions in April 2018 and 2019.