Auto Enrolment Contribution Changes announced in Autumn Statement

Thursday 26 November, 2015

In the Autumn Statement George Osborne announced that the Government will delay the next two scheduled increases in automatic enrolment minimum contribution rates by 6 months each. The rationale behind this change is to align the changes with the start of the tax year.

The revised timescale is:

	Employer	Employee
Currently	1%	1%
From 6 April 2018	2%	3%
From 6 April 2019	3%	5%

Richard Porter, Director & Financial Adviser at Lonsdale Services said: ‘The auto enrolment changes are not significant, albeit they save the Government £840m in tax relief, but are the first to be made to the Government’s workplace pensions timetable since the auto enrolment roll out started three years ago, and perhaps open the door for further delays in the future.’

Richard Porter is a Financial Adviser at our St Albans office. Lonsdale Services has already advised many companies on their auto enrolment project. If you require any auto enrolment & workplace pensions advice please contact Richard on 01727 845500 or email enquiries@lonsdaleservices.co.uk

"The Financial Conduct Authority does not regulate some elements of Automatic Enrolment."

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