The Autumn statement – effect on auto enrolment.
How Osborne has
changed auto enrol
Just when you were getting used to auto enrol arrangements, the inevitable has happened. The Chancellor has gone and changed them! In truth, there was only a minor tweak in the recent autumn statement. Nevertheless, it’s significant:
• Employer and employee contributions are scheduled to increase from 1% to 2%, and then year on year until the ‘steady state’ is reached.
• Instead of this happening in October 2016 it will now be the following April – ie. 2017
• It means your clients now have another 6 months before they have to pay higher contributions
• This can be a useful acclimatisation period for those with late staging dates as they get to stay on the 1% rate longer
Also the companies that did offer free set up for Auto enrolment for Small companies have now changed so if you would like some more information on this please get in touch.
NB We have now successfully moved into our new premises at
75 Buccleuch Street
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