Each company has been assigned staging dates which is the date that they must auto enrol their eligible workers and commence contributions into a Qualifying Workplace Pension Scheme.
There is a lot of work to do before then to ensure that the company is fully compliant with all the regulations and has the necessary systems in place to commence with auto enrolment. We recommend that your business should start planning for auto enrolment a minimum 18 months before your Staging Date, ideally two years.
Each company can find their date by clicking here
Pension contributions are effective from this date, initially at a lower required level and increasing over the next 5 years:
The pension contributions payable are a percentage of qualifying earnings, a band of gross annual earnings. Currently these are the upper and lower national insurance thresholds but this could change in the future.
Employers need not consider any amount workers earn above the upper earnings threshold.
