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New Pension Minimum Contributions Increase from April 2018

According to the current law, the auto-enrolment pension contributions are going to change in April 2018 and further in April 2019. If you are an employer, be prepared to take steps to increase your minimum contributions from 1% to 2%. Thus, the total minimum contributions will increase from 2% to 5%, where employers will contribute 2% and employees will contribute 3%. The further increase is expected from April the 6th 2019, from 5% to 8%, with employers share of 3% and employees having to contribute 5%.

However, employers can start contributing the full 5% from April 2018 and 8% from April 2019. In such case, employees will not have to contribute at all.