Auto Enrolment Workplace Pensions | TPT Retirement Solutions

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Pension Auto-Enrolment

The minimum amount employers and employees must pay into their Defined Contribution (DC) schemes is increasing. From 6 April 2019 the total minimum contribution will be 8%, with the employer contributing at least 3%. The current total minimum contribution is 5%, with the employer contributing at least 2%.

All employers with staff in an auto-enrolment pension scheme, must make sure that they are paying at least the minimum amounts into their pension scheme, whether they are using a pre-existing scheme or one that they set up for auto-enrolment. The document below provides more information on current and future contribution rates and how they will impact your workplace pension scheme.

Auto-Enrolment contribution rates

What is Workplace Pension Auto-Enrolment?

To help people save for retirement, employers have a legal requirement to auto-enrol their eligible employees into a workplace pension scheme.

Introduced by the Government in 2012, the legislation was first rolled out to large employers, followed by medium-sized, and then small employers. All new and existing employers should now auto-enrol their eligible employees unless they choose to opt out.

The contributions employers and employees must make each month has been increasing in phases, with the next increase scheduled for 6 April 2019.

Employers must auto-enrol employees who: