The minimum amounts companies and staff pay into their automatic enrolment pension schemes will soon be increasing, as planned in April 2018.

From 6 April 2018 the employer minimum contribution will increase from 1% to 2%; and the staff contribution from 1% to 3%, bringing the total minimum contribution up to 5%. Then again from 6 April 2019 onwards the employer minimum contribution will increase to 3% and the staff contribution to 5%, meaning that the total minimum contribution will increase to 8% by April 2019.

If you have put your staff into a pension scheme for automatic enrolment, you will need to ensure that at least the minimum required amount is paid by you and your staff into the scheme, and this will need to be increased by April 2018. If you do not have any staff in the automatic enrolment pension scheme then you do not need to take any further action.