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Auto Enrolment “Workplace Pensions” Contribution Rates Increase

The current minimum contributions to “Workplace Pensions” are 1% for both the Employer and Employees. However from 1 April 2018, the rate that Employers need to contribute will be increasing to 2% and the rate that Employees contribute will increase to 3%.

Practices may wish to budget for these increases, and also, for further increases from April 2019, when the Employer’s contribution will rise to 3%, and the Employees contribution will be 5%.