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PH NEWS

WORKPLACE PENSION/AUTO ENROLMENT CONTRIBUTIONS

Currently any member of staff in a workplace pension scheme must pay 1% which is matched by the employer.

This is set to change on 6 th April 2018 to a new total minimum contributions amount of 5%, this will consist of 3% from the employee and 2% from the employer.

Contributions will yet again increase on 6th April 2019 to a total of 8% being contributed. 5% must be contributed from the employee with 3% as the minimum from employers.  Please ensure that your workplace pension scheme is in place before your staging date.

If your staging date has passed we recommend looking closely each pay period for any changes that would make your employee eligible for auto enrolment. If this occurs then the employer will need to setup the pension scheme at the earliest point. 

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MPH Accountants

We offer a friendly and professional service to our clients. Our client base is wide and varied ranging from small one-man bands to large limited companies, and our business principle is the same in that each client, no matter what size, has their own individual requirements.

Whitstable - 01227 277 667
Thanet - 01843 230 256
Email: admin@mphaccountants.co.uk