Do I have to contribute to my workers’ pension?
Article ID
11743
Article Name
Do I have to contribute to my workers’ pension?
Created Date
15th June 2017
Product
IRIS PAYE-Master, IRIS Payroll Business, IRIS Bureau Payroll, IRIS GP Payroll, IRIS Payroll Professional, Earnie, IRIS Earnie IQ
Problem
Do I have to contribute to my workers’ pension?
Resolution
As an employer you must contribute to the pension of your Eligible Jobholders and any Non-eligible Jobholders who opt in.
What are the minimum contributions?
To comply with the legislation you must meet the minimum contribution rates for automatic enrolment. Initially, the minimum contribution is 2% of the employees’ pensionable earnings. This must include at least 1% contribution from the employer.
The Pensions Regulator plan to increase the minimum contribution over the next few years.
For more information see the Pension Guides
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